October 2016 – Consumer Financial Services Watch

Cracking the Code: Cybersecurity for Tomorrow

Oct 31 2016

Please join K&L Gates and Carnegie Mellon University for a complimentary one-day program focusing on the prevention of, response to and investigation of cyber threats.

Date/time: Thursday, November 10, 8:00 am – 5:15 pm

Location: This event will be presented live at K&L Gates Pittsburgh and video broadcast to K&L Gates offices in Boston, Charleston, Charlotte, Harrisburg, Newark, New York, Raleigh, Research Triangle Park, and Washington, D.C.

Click here for more information and registration details.

The future of Fintech event, San Francisco, 1 November

Oct 28 2016

K&L Gates will be co-hosting an event with the Silicon Vikings in San Francisco on Tuesday November 1st. This will be a panel session with presenting companies including: Checkbook, bitwage, StratiFi and Qwil. An event not to be missed.

The panel will include:

Sanjiv Das, Professor of Finance, Santa Clara University
Jacob Sisk, VP Payments & Data Science, CapitalOne
Tyler He, Business Development, Tencent
Moderator & Event Chair: Shikhar Das, Assistera

Details of the event:

Date/time: Tuesday, November 1st, 6.00 pm – 8.30 pm
Location: K&L Gates, 4 Embarcadero Center, Suite 1200, San Francisco, CA 94103 (google maps)
Register: Click here for more details or to register to attend

For any queries, please contact K&L Gates partner, Lars Johansson.

Webinar: CFPB Final Rule on Prepaid Accounts: The Rules and Their Short and Long Term Impacts

Oct 19 2016

Please join us for a webinar on the Consumer Financial Protection Bureau’s (“CFPB”) final rule (the “Rule”) on prepaid accounts.

The webinar will:
• Review the Final Rule in detail.
• Note industry responses to the Rule.
• Make projections regarding its short and long term impacts.

Panelists:
Linda C. Odom, Partner, K&L Gates
Judith E. Rinearson, Partner, K&L Gates
Jennifer L. Crowder, Counsel, K&L Gates
Eric A. Love, Law Clerk, K&L Gates
Ernest L. Simons, Associate, K&L Gates
Tyler Kirk, Associate, K&L Gates

To register, click here. Log-in instructions will be sent via email the day before the webinar. You must register to receive the log-in instructions.

“Not A Close Call”: The D.C. Circuit Restores The Safe Harbor To Section 8 of RESPA

Oct 12 2016

By Irene C. Freidel

Noting that “[t]he basic statutory question in this case is not a close call,” the D.C. Circuit has held that a bona fide payment by one settlement service provider to another does not violate Section 8(a) of the Real Estate Settlement Procedures Act (RESPA) if the payment is reasonably related to the market value of the goods, services, or facilities provided. See PHH Corp. v. Consumer Financial Protection Bureau (D.C. Cir. Oct. 11, 2016). The court’s conclusion was mandated by the unambiguous text of Section 8(c) of RESPA, along with the U.S. Department of Housing and Urban Development’s (HUD’s) long-standing interpretations of the same statutory provision.

To read the full alert, click here.

Archive:October 2016