Ira Richards Spoke at the 22nd National Conference on Consumer Finance Class Actions & LitigationOn April 13, 2015 by Schnader
Partner Ira Richards took part of a panel discussion on “Navigating the Scope of the CFPB’s UDAAP Authority, and Preventing and Defending Against Potential UDAAP Violations and Litigation” at the American Conference Institute’s (ACI) 22nd National Conference on Consumer Finance Class Actions & Litigation. The conference was held Monday, April 13, 2015 to Tuesday, April 14, 2015 in Los Angeles, CA. Mr. Richards’ panel took place the afternoon of April 13th.
Panelists explained how the CFPB defines UDAAPs, and provide updates on the latest UDAP/UDAAP enforcement actions, including the practices the CFPB is targeting and the latest trends in the enforcement arena. They also explored how the CFPB has been using their UDAAP powers in respect to financial institutions in litigation and settlements, and what those institutions can do to prevent and protect against UDAAP allegations. Discussion also included determining what constitutes, “unfair, deceptive, abusive acts and practices,” and how these differ from claims brought under the Federal Trade Practices Act.
The 22nd Consumer Finance Class Actions & Litigation Conference provided attendees with the latest insights and advice from experienced faculty on new class action trends, emerging theories of liability, the latest enforcement actions and regulatory initiatives, and the most effective defense and settlement strategies.