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Course Details

Navigating Risks, Threats, And Lawsuits In The Credit And Collection Industry

Webinar: ID# 1022821
Recorded CD
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About This Course:
Members of the credit and collection industry face a variety of new challenges as they attempt to navigate the aggressive regulatory schemes created by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and Federal Communications Commission (FCC) among others.

The threat of civil investigations and enforcement actions have many companies in the accounts receivable industry updating their compliance management systems.

On top of these regulatory challenges, the plaintiff's bar has increasingly utilized the class action device to challenge wholesale company practices and engage in complex civil litigation under the Telephone Consumer Protection Act (TCPA), Fair Credit Reporting Act (FCRA), and Fair Debt Collection Practices Act (FDCPA).

This webinar analyzes the hot-button issues facing the accounts receivable management industry from both a compliance and litigation management perspective. The course focuses on popular individual and class action claims, as well as potential litigation strategies to reduce exposure. It also provides takeaways from regulatory activities involving the CFPB, OCC and FTC - including lessons learned to reduce the risk of an enforcement action going forward.

Agenda

Fair Debt Collection Practices Act
  • Data Integrity
  • Key Statutes and Regulation
  • Affidavits Used in Support of Collections
  • Dialing Frequency
  • Cell Phone Calls, Text Messaging, Emails
  • Strict Liability and Compliance
  • Role of Call Recordings
  • Telephone Calls
  • Validation Notices
  • Demand Letters
  • Selected State Requirements
  • Time Barred Debts
  • Class Actions
  • CFPB
  • FTC
  • OCC Consent Order With JPMorgan Chase
Fair Credit Reporting Act
  • FCRA Overview
  • Statute Requirements and Definitions
  • Hyper-Technical Interpretations
  • Furnisher's Duties
  • Rise of Class Actions
  • Lessons From Recent Cases
Telephone Consumer Protection Act
  • History of TCPA; Requirements of TCPA
  • Prior Express Consent
  • ATDS
  • Special Rules for Telemarketing
  • FCC Declaratory Ruling
  • Strategies for Defeating Class Actions
Wrap-up
  • Lessons Learned and Summary of Litigation Risks
About The Presenters

Virginia B. Flynn
  • Trial lawyer in the Consumer Financial Services Group and specifically within the Financial Services Litigation Practice of Troutman Sanders LLP
  • Represents clients in federal and state court, both at the trial and appellate level in the areas of complex litigation and business disputes, financial services litigation and consumer litigation
  • National TCPA counsel for one of the country’s largest health care companies
  • Has written on several topics related to her areas of expertise
  • Provides ongoing analysis and commentary on developments in consumer financial services industry through the Consumer Financial Services Law Monitor blog
  • Graduate, College of Charleston; graduate, Washington and Lee University School of Law
H. Scott Kelly
  • Trial lawyer in the Consumer Financial Services Group and specifically with the Financial Services Litigation Practice of Troutman Sanders LLP
  • Experience representing clients in complex, national class actions – most notably in Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA) and Securities Exchange Act litigation
  • Serves as lead counsel handling all incoming litigation matters for a national debt collector
  • Served as counsel to a Fortune 200 banking corporation with regard to numerous claims asserted under the Magnuson-Moss Warranty Act, FTC Holder Rule, and various state consumer protection statutes in Virginia, Nevada, Michigan, California, Missouri, Ohio, Pennsylvania, New York and New Jersey
  • Provides ongoing analysis and commentary on developments in consumer financial services industry through the Consumer Financial Services Law Monitor blog
  • Graduate, University of Virginia; graduate, Washington and Lee University School of Law, where he served on the board of appeals
Ethan G. Ostroff
  • Trial lawyer with Troutman Sanders LLP whose practice emphasizes all aspects of the consumer financial services industry, in which he represents debt buyers, debt collectors, law firms, national, regional and local banks, consumer reporting agencies, and other related consumer finance entities in federal and state consumer litigation, including claims under the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA), Electronic Fund Transfer Act (EFTA), Equal Credit Opportunity Act (ECOA), other federal and state statutes, and common law; regularly counsel clients on compliance issues, with a focus on the FDCPA, FCRA and EFTA
  • Counsel to one of the world’s largest debt buyers and for a national collection agency, for whom he handles individual and class action threats and lawsuits, as well as a range of compliance questions, arising under the FDCPA, FCRA, TCPA and related state laws
  • Selected as a Rising Star in Consumer Law by Law & Politics' Virginia Super Lawyers magazine (2012 to 2015) and named to Virginia Business magazine’s Legal Elite Under 40 (2009, 2014 to 2015), and in appellate law (2011 to 2013)
  • Presenter, “Debt Collectors and Federal Regulators: Recent Developments with the CFPB, FTC and FCC,” Virginia Creditors Bar Association, Sixth Annual Collections Seminar, Williamsburg, VA, October 8, 2015
  • Speaker, “The Devil in the Details: High Risk FCRA Reporting Issues for Furnishers,” The Association of Credit and Collection Professionals 2015 International Annual Convention and Expo (ACA), Boston, MA, July 20, 2015
  • Presenter, “Navigating Risks, Threats, and Lawsuits in the Credit and Collection Industry Live Webinar” Lorman Education Services, Aug. 27, 2014; “CFPB, FTC, State Regulators and Compliance,” Credit and Collection News Seminar, Atlanta, GA, Feb. 18-19, 2014
  • Co-wrote, “CFPB Issues "Guiding Principles" for Financial Technology Payment Sys-tems to Ensure Consumer Protections” TerraLex Connections, September 2015; co-wrote, "New York Announces Sweeping New Regulation of the Debt Collection In-dustry," TerraLex Connections, March 16, 2015; co-wrote, "Fourth Circuit Rules Debt Collector Violated "Call Charged" Section of TCPA for Using an ATDS to Call a Residential Landline," Terralex Connections, December 9, 2014; co-wrote, “TCPA Rule Changes are in Effect: Is Your Marketing Campaign Ready?” TerraLex Connections, January 2014
  • Provides ongoing analysis and commentary on developments in consumer financial services industry through the Consumer Financial Services Law Monitor blog
  • Graduate, University of Virginia; graduate, Washington and Lee University School of Law, where he served on the board of appeals
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Navigating Risks, Threats, And Lawsuits In The Credit And Collection Industry
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