Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part 2

The podcast we are releasing today is part 2 of a re-purposed webinar we produced on March 25 titled “The Impact of the Election on the CFPB - Part 4.” As a result of the diminishing impact of the CFPB on enforcing the consumer financial services laws, we expect that void to be filled by state government enforcement agencies and private civil litigation, including class and mass actions.  Our webinar focused on private civil litigation. Our featured guest for this webinar was Ira Rheingold, Executive Director of the National Association of Consumer Advocates. He was joined on the panel by Thomas Burke, Dan McKenna, Jenny Perkins, Joseph Schuster, and Melanie Vartabedian, litigators in our firm’s Consumer Financial Services Group.

We discussed the following areas where the panelists are predicting an increase in private civil litigation during 2025 and beyond:

1. Solar Litigation Trends (Ira, Melanie).

2. Increased volume of arbitrations and mass arbitrations (Ira, Dan).

3. A general emphasis on “unfair” practices, including a close look at alleged unlawful fees (Ira).

4.  Crypto industry practices -fees, deception and third-party responsibility (Ira).

5.  National Bank Act preemption and DIDMCA opt-out litigation (Joseph).

If you missed listening to part 1 of this re-purposed webinar, you can access the podcast in the link to the following blog which appears here. The blog describes the topics we covered.

Alan Kaplinsky, the former chair for 25 years and now the Senior Counsel of the Consumer Financial Services Group, hosted the podcast show.

For our podcasts repurposed from webinars that we produced as part of our series entitled “The Impact of the Election on the CFPB” Part 1 (regulations and other written guidance), click here and here; Part 2 (supervision and enforcement),  click here and here; Part 3 (state AGs and departments of banking), click here and here.