Credit and Collection News and Troutman Sanders’ Consumer Financial Services group present
“CFPB, State Regulators and Compliance”
February 18-19, 2014
CCN and Troutman Sanders have created a seminar filled with rich and relevant content designed to meet the challenges of collecting in today’s economy, given the highly-regulated nature of the debt collection industry.
This day and a half presentation will support senior level consumer collection and risk management professionals.
February 18, 2014 – Workshops 9:00AM – 6:30PM
February 19, 2014 – Workshops 9:00AM – 12:00PM
Minimum Continuing Legal Education (MCLE) & DBA International Certification Education Credit available.
With the CFPB actively increasing its efforts to reform the debt collection industry, it is critical for those involved in financial services activities to properly prepare themselves for inquiries by the CFPB. Furthermore, the CFPB appears to be in active pursuit of large financial penalties from companies that demonstrate noncompliance. In addition, the CFPB is in the process of gathering information for its consumer “library,” a database of consumer complaints about financial products and services. Finally, given the concurrent authority granted to the state Attorneys General in enforcing the Dodd-Frank Act, the Bureau will be engaging in a coordinated, aggressive and proactive effort with state Attorneys General to reform the debt collection industry. Indeed, the historic first civil and criminal enforcement actions filed in court by the CFPB was against a debt collection law firm and reflects the priority the CFPB has placed on “reforming” this industry. Further, in recent months, the New York City Department of Consumer Affairs (DCA) has been involved in an enforcement “sweep,” of debt collection agencies and debt buyers seeking to renew their licenses to operate in New York City.
Learn what your company should anticipate before, during and after a CFPB examination; how to prepare for and respond to state AG or other state regulator investigations; and how to handle the DCA licensure concerns, by attending one of the sessions of this multi-city touring seminar, “The CFPB, State Regulators, and Compliance” presented in collaboration by Credit and Collections News and Troutman Sanders LLP. This day and a half seminar will discuss where the CFPB has been, where it is currently, and where it is headed.
The presenters will explain how your company can proactively prepare for a CFPB enforcement action, including a CID, and will address the process of a CFPB examination, including what to expect throughout this high-risk process. Lawyers from Troutman Sanders LLP, who have actively participated in state and federal investigations, including those of the CFPB, will be available to address your questions during a readiness review session. Finally, the seminar will delve into the possible results of a CFPB audit and how to properly address any issues that may result from an examination.
You will not want to miss this unique and valuable opportunity to gain insightful knowledge that is specific to your company, its needs, and current risks regarding the CFPB from key legal experts.
To register or for additional information regarding the program, please contact firstname.lastname@example.org or call 760.438.1741. The cost is $1295 per person and space is limited.