February 07, 2017 - 10:00 AM - 10:50 AM PST

"Navigating Debt Buying in A 'Regulatory by Enforcement' Environment During a Rulemaking" at the 2017 DBA International Annual Conference

This event has already occurred.
ARIA Resort & Casino
3730 S Las Vegas Blvd
Las Vegas, NV 89158

As creditors and debt buyers wait for federal regulations governing debt collection to be written and issued, the CFPB has entered into several important settlements with debt sellers, buyers, and collectors that have had a transformative impact on the marketplace. Although only binding on the parties, these consent orders reflect the expectations of regulators and the standards by which they evaluate companies' debt selling and purchasing activity. As Director Richard Cordray has remarked, it would be "compliance malpractice" for executives not to take careful bearings from the contents of these orders about how to comply with the law and treat consumers fairly.‎ On top of all that, there’s now a pending rulemaking that may result in black and white rules that will impact the entire marketplace.

This panel of seasoned in-house and outside counsel will discuss strategies for navigating the "regulation by enforcement" landscape, with a focus on the roles of legal, audit, and compliance in risk management; and approaches to managing compliance in connection with real-world issues, including due diligence of sellers and buyers, evaluating prospective debt portfolios, negotiating purchase agreements, ongoing monitoring of portfolios and collection strategy. Panelists will also discuss what’s on the horizon and how the rulemaking impacts compliance.

Speakers:
Jonathan L. Pompan, Esq., Partner and co-chair of the Consumer Financial Protection Bureau Task Force, Venable LLP
Alexandra Megaris, Esq., Counsel, Consumer Financial Protection Bureau Task Force, Venable LLP