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Update on Managing HELOCs - Consumer Laws and Recent Litigation
Webinar
11 AM CT
Presenter(s): Jonathan Jerison
Duration: 1 hour
Pricing:
Live, Digital Download or CD
combos available for an additional $50
$299 - (full-price, no discount)
$249 - (for Affiliation Members)
Is your institution facing a deteriorating HELOC portfolio? Are you sure you are in compliance with the complex laws and regulations surrounding HELOCs? Some institutions are already facing class action lawsuits from claims that they didn't follow the rules. Make sure you know how to protect your institution in this volatile environment and steer clear of litigation and regulatory sanctions.
Join this “can’t miss” session with noted attorney Jonathan D. Jerison, and learn how to navigate safely through the legal and regulatory maze of managing HELOCs.
This webinar will answer critical questions such as:
- When should you reduce or suspend lines of credit to actively manage your home-equity portfolios?
- What are the courts saying about managing your HELOCs?
- Do you need to do a new appraisal?
- Can you use automated value models or broker price opinions?
- Can you use area-wide statistics?
- How can you prove you reasonably believe that the consumer will default?
- Can you use FICO scores by themselves?
- Does it help to have an appeals process?
- How do other laws such as Fair Lending, Fair Credit Reporting Act, Equal Credit Opportunity Act Adverse Action and Unfair and Deceptive Acts or Practices (UDAP) considerations impact how you manage HELOCs?
- How do FDIC and OTS Guidance make it both easier and harder to manage HELOCs?
- What is your institution’s exposure to litigation such as class action suits and actual damages in individual actions—and what can you do to minimize it?
BIO: Jonathan Jerison
Jonathan Jerison counsels bank and non-bank financial institutions and their affiliates in complying with federal and state consumer protection laws and regulations, including advising on a wide variety of consumer finance issues such as the Truth in Lending Act, privacy, the Fair Credit Reporting Act, fair lending, telemarketing, and electronic commerce matters.
His prior experience includes 14 years as a staff attorney and senior staff attorney at the Federal Trade Commission, where he was responsible for enforcement, interpretation, and rulemaking involving the federal consumer credit laws and the Federal Trade Commission Act. He received an M.L.T. from Georgetown University in 1988, a J.D. from University of California School of Law in 1977 and a B.A. from Yale University in 1973. Jon is a frequent speaker at financial industry conferences and seminars.
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