Understanding the CFPB's Withdrawal of Guidance Documents

Join us for an insightful Legal Learning webinar on the recent action by the Consumer Financial Protection Bureau (CFPB) to withdraw various guidance documents, interpretive rules, policy statements, and advisory opinions. This webinar will be led by experienced attorneys (Joann Needleman, Manny Newburger, and Brit Suttell) and Alex Teel, a government relations professional from RFA. 

• Overview of CFPB's Withdrawal Action: Detailed explanation of the CFPB's decision to withdraw guidance documents issued since 2011.
• Implications for Regulatory Clarity and Compliance: Analysis of how this action impacts regulatory clarity and compliance burdens for financial institutions.
• Enforcement Changes: Discussion on the CFPB's reduced enforcement activities and its effects on regulatory adherence.
• Future Guidance: Insights into the potential reissuance of guidance and its alignment with statutory requirements

Participants will Gain:

1. Understanding of Regulatory Changes: Comprehensive knowledge of the CFPB's withdrawal action and its rationale.
2. Impact on Compliance Strategies: Insights into how financial institutions should adjust their compliance strategies considering the withdrawal.
3. Navigating Temporary Uncertainty: Strategies for managing uncertainty during the review period and staying informed about new guidance or regulations.
4. Adapting to Enforcement Changes: Knowledge of how reduced enforcement activities may affect risk management and compliance approaches.
5. Preparation for Future Guidance: Awareness of the potential for new guidance and how it may be more carefully considered to reduce compliance burdens.

This webinar is essential for legal professionals, compliance officers, and regulatory affairs specialists looking to stay ahead of regulatory changes and ensure their practices align with the latest developments from the CFPB. 

CLE Pending

Joann Needleman, Clark Hill PLC

Joann is the leader of Clark Hill’s Financial Services Regulatory & Compliance group, and serves as a navigator to her clients seeking advice and guidance in the complex regulatory environment facing the financial services industry. She provides counsel, consultation, and litigation services to a wide array of financial institutions, law firms, credit reporting agencies, as well as venture capital firms looking to invest in the fin-tech space. A former member of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Joann has been able to provide her clients with useful strategies in order to prepare for new areas of regulatory scrutiny, including examinations.

Manuel Newburger, Barron & Newburger P.C.

Manny Newburger leads the Consumer Financial Services Law Practice Group at Barron & Newburger, P.C. A frequent author and speaker on the FDCPA and other consumer protection laws, Mr. Newburger is known internationally for his expertise in consumer and commercial law, consulting on FDCPA, FCRA, and TCPA compliance across the globe and defending of individual and class consumer litigation and regulatory matters across the United States. His practice focuses on litigation, litigation management and strategy, regulatory defense, and compliance, and he serves as a settlement negotiator in complex cases. Mr. Newburger has consulted to collection industry members throughout the U.S., India, the Philippines, and Canada, and his clients include financial institutions, debt buyers, law firms, and collection agencies.

A Fellow of the American College of Consumer Financial Services Lawyers, Mr. Newburger taught consumer protection law at the University of Texas School of Law from 1999 to 2022. He has appeared as amicus curiae counsel in a number of high-profile cases affecting the collection industry, and was recognized by Collections & Credit Risk magazine in 2009 as an “Industry Champion.” From 2005 to the present he has been designated as a Texas Super Lawyer by Thomson Reuters, and he is board-certified as a specialist in consumer and commercial law by the Texas Board of Legal Specialization.

Mr. Newburger is a member of the National Creditors’ Bar Association and the American Bar Association. He is a past Chair of the Commercial Law League of America’s Fair Debt Collection Practices Act Committee, a past Chair of the State Bar of Texas’ Consumer and Commercial Law Section, and a past Chair of the Texas Board of Legal Specialization Exam and advisory commissions on board certification in consumer and commercial law. The Texas Supreme Court has appointed him to multiple task forces charged with writing foreclosure rules in Texas, and he served on the editorial committee for the State Bar’s Texas Collection Manual – Third Edition.

Mr. Newburger is licensed to practice in Texas, Colorado, Massachusetts, and Wisconsin  and is admitted to practice before the United States Supreme Court, the United States Courts of Appeals for the First through Eleventh and D.C. Circuits, and federal district courts in Texas, Colorado, Connecticut, D.C., Illinois, Indiana, Maryland, Massachusetts, Michigan, Missouri, Nebraska, Oklahoma, Pennsylvania, Tennessee, and Wisconsin.

Brit Suttell, Barron & Newburger P.C.

Brit Suttell is a shareholder and member of Barron & Newburger, P.C.’s Consumer Financial Services Group where they focus on defense litigation and regulatory compliance related to consumer protection statutes and regulations, specifically the Fair Debt Collection Practices Act, Reg. F, Fair Credit Reporting Act, Telephone Consumer Protection Act, and related state consumer protection laws. Brit assists clients with the creation and maintenance of compliance management systems. Their experience in-house at a debt collection law firm allows them to assist clients in crafting compliant operational solutions. In addition to defending consumer protection law claims, they also assist clients in various dealings with both state and federal regulators including handling civil investigative demands and other inquiries. Brit is a current member of the National Creditors Bar Association board of directors, former member of the Legal Advisory Board for the Consumer Relations Consortium, and is the immediate past President of the Pennsylvania Creditors Bar.

Alex Teel, RFA Richard Feuer Anderson

ALEX TEEL SERVES AS PRINCIPAL AT RFA, WHERE HE LOBBIES CAPITOL HILL, INDEPENDENT REGULATORY AGENCIES, AND THE EXECUTIVE BRANCH ON BEHALF OF CLIENTS.

He gained diverse policy and legislative experience from his service as the Designee for Chairman Emeritus Spencer Bachus (R-AL) to the House Committee on Financial Services and as a Professional Staff Member on the Committee. In his capacity as Designee, Alex managed the activities of Chairman Emeritus Bachus before the Financial Services Committee, including the development of legislation and participation in Committee proceedings. He provided counsel on a wide range of policy and regulatory proposals affecting all aspects of financial markets and institutions.

As a Professional Staff Member serving both the Domestic Monetary Policy and Technology Subcommittee and the International Monetary Policy and Trade Subcommittee, Alex worked on a range of issues affecting domestic and international financial institutions. His portfolio included the Federal Reserve, international financial institutions, money laundering, cybercrime, emerging payments, the Export-Import Bank and other trade agencies, the Defense Production Act, and coins and currency. He helped steward the passage of the Export-Import Bank Reauthorization of 2012, capital increases for several multilateral development banks, and staffed the Speaker’s Cyber Security Task Force on behalf of the Financial Services Committee.

In addition, Alex served as the Financial Services Legislative Assistant for Rep. Mick Mulvaney (R- SC), providing strategic counsel on financial markets, cyber security, intelligence, transportation, science and technology and economic policy.