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Consumer Financial Services Answer Book (2017 Edition)

Author(s): Richard E. Gottlieb, Thomas M. Hanson, Arthur B. Axelson, Dykema Gosset LLP
Practice Area: Banking and finance, Consumer finance, Financial institutions, Financial services
Date: Jun 2017 i Other versions can be found in the Related Items tab.
ISBN: 9781402427282
PLI Item #: 172875

    Written in a clear and accessible Q&A format, this book—fully updated through mid-2017 developments—provides practitioners with a core understanding of the laws governing consumer financial services, as well as the latest developments in the field, including CFPB enforcement, privacy and security of personal information and much more.

    This treatise includes detailed chapters on twenty-seven separate subjects including the Truth in Lending Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Electronic Signatures in Global and National Commerce Act (ESIGN), the Telephone Consumer Protection Act, the consumer provisions of the Bankruptcy Code,  the Gramm Leach Bliley Act, the Fair Debt Collection Practices Act, and two chapters on the powers and enforcement activities of the Consumer Financial Protection Bureau.  There are also chapters covering auto finance, credit cards, military lending, and laws affecting mortgage lending and servicing, including individual chapters on licensing, securitization, the Real Estate Settlement Procedures Act, the Home Mortgage Disclosure Act, the Home Ownership and Equity Protection Act, mortgage servicing rules and foreclosure.

    This practical Q&A guide ensures that the reader has the absolute latest information on the laws and regulations impacting the industry and consumers today.

Thomas M. Hanson is a member in McGlinchey Stafford’s Dallas office. Mr. Hanson is a commercial litigator who is licensed to practice in Texas, California, and Michigan as well as a host of federal district and appellate courts throughout the country. Mr. Hanson has long devoted the bulk of his practice to the representation of financial services companies in a variety of litiga-tion matters, including commercial disputes, wrongful foreclosure, mortgage fraud, reverse mortgage issues, and individual and putative class actions alleging various statutory and common law theories of deceptive practices/predatory lending. Mr. Hanson also advises his clients on various regulatory matters, including supervision and  enforcement, vendor management, and operational process and policy issues.

Mr. Hanson is a frequent writer and speaker on numerous financial services and litigation topics. In addition to serving as co-editor and chapter author on previous editions of the PLI Consumer Financial  Services Answer Book, his publications include “Lessening the Pain: How Policies Can Help You Prevent, and Fight, Lawsuits,” Smart Busi-ness Dallas (June 2012); “Defending the Adequacy of Disclosures in Non-Traditional Mortgage Products,” The Review of Banking & Finan-cial Services (June 2009); and “Intestate Succession for Stepchildren:  California Leads the Way, But Has It Gone Far Enough?,” Hastings Law Journal (1996). He has been a presenter at financial services conferences and webinars organized by the American Conference  Institute, the Mortgage Banking Association, the American Bar Associ-ation’s Consumer Financial Services Subcommittee, the Practising Law  Institute and Lorman, and he frequently provides in-house CLE  presentations to his clients.

Mr. Hanson’s nationwide litigation practice has resulted in a host of favorable reported trial court and appellate decisions in a wide range of jurisdictions, including federal and state courts in California,  New York, Illinois, Pennsylvania, Michigan, and Texas. Prior to relocat-ing to Dallas, Mr. Hanson resided and practiced in Ann Arbor, Michigan,  where he was elected to the Scio Township Board of Trustees in 2008. Mr. Hanson graduated magna cum laude and Order of the Coif  from the University of California Hastings College of the Law in San Francisco, California, and received his B.A. from the University of Michigan in Ann Arbor, Michigan.

Arthur B. Axelson  is Se-nior Associate General Counsel at Freddie Mac. Prior to joining Fred-die Mac, Mr. Axelson was in private practice at Dykema Gossett, Reed Smith and Morgan Lewis & Bockius. In his practice, he regularly inter-acted with federal and state banking officials to assist clients on com-pliance and new product development and advised financial service providers on both federal and state law, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and their implementing regulations. 

Mr. Axelson represented a broad range of financial institutions, brokers, lenders, loan servicers, investors, and other service pro-viders on consumer financial service and retail banking matters. His primary areas of practice included federal and state regulatory com-pliance with special emphasis on new product development, secured and unsecured lending, regulatory banking, and e-commerce in the financial services industry. Mr. Axelson has particular experience in reverse mortgage lending and other mortgage products, and also advised clients regarding various regulatory banking issues, specific loan transaction problems, mortgage fraud concerns, alleged viola-tions of applicable law and regulations, and loan servicing and debt collection issues. 

Mr. Axelson regularly writes and speaks on regulatory compli-ance matters and has been elected by his peers as a Fellow of the American College of Consumer Financial Services Lawyers.