New York, NY, October 07, 2015 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that James W. Wright, Jr., Attorney, Bradley Arant Boult Cummings LLP will speak at the Knowledge Congress’ webcast entitled: “Ensuring the Veracity of Reverse Mortgage Advertisements: Managing Your Firm's CFPB Compliance Live Webcast.” This event is scheduled for Monday, December 14, 2015 from 10:00 AM to 12:00 PM ET.
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About James W. Wright, Jr.
Jay joined the firm in the fall of 2010 and is an associate in the Birmingham office. He practices in the firm’s Financial Services and General Litigation practice groups. While attending the University of Alabama School of Law, Jay served as an Articles Editor of the Alabama Law Review and was a member of the Moot Court Board. He was also a Hugo Black Scholar and was inducted into the Order of the Coif.
Jay’s practice focuses on financial services litigation and regulation. Jay is actively involved in lawsuits and disputes across the country, including Alabama, New Jersey, Texas, and Pennsylvania, in which he represents companies involved in a wide array of state and federal law claims. His representation includes general defense of various claims against financial institutions, mortgage companies, and other commercial entities. Some of these claims involve allegations of wrongful foreclosure proceedings or violations of the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and other state and federal financial laws and regulations.
Jay also advises some of the nation’s largest financial institutions and mortgage companies as they adapt to changes in the regulatory and judicial environments in which they operate. Jay’s regulatory practice involves assisting clients in the financial services and mortgage industries comply with obligations imposed on them by the Department of Housing and Urban Development (HUD), Department of Justice (DOJ), the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve (FRB), the Consumer Financial Protection Bureau (CFPB), and a host of state banking regulators and court systems. As part of his regulatory practice, Jay has developed and regularly updates standardized judicial and non-judicial foreclosure documents for mortgage companies, conducts third party vendor management legal compliance interviews, and provides due diligence of internal procedures and files being service-transferred between financial institutions and mortgage companies.
About Bradley Arant Boult Cummings LLP
Bradley Arant Boult Cummings LLP is a regional law firm with a global perspective. The firm has nearly 500 attorneys serving emerging businesses; established regional, national, and international companies; and individuals. We are one of the largest firms in the Southeast, with offices strategically located in Alabama, Florida, Mississippi, North Carolina, Tennessee, and the District of Columbia. Our offices provide an extensive geographic base from which to serve clients in various industries on a regional, national, and international basis. Clients rely on our firm for innovative legal services that reflect an in-depth understanding of their business realities.
In June 2015, the Consumer Financial Protection Bureau (CFPB) released the results of a study on Reverse Mortgage Advertisements. The study revealed that, generally speakers, consumers were confused about reverse mortgage uses and claims, failed to understand the role of the government, and were left with false impressions about the implied added financial security.
A reverse mortgage is a special type of home loan that allows older homeowners to access the equity in their homes and defer payment of the loan until they die, sell, or move out. Based upon this study, the CFPB issued an ‘advisory’ warning that a reverse mortgage is a home loan, not a government benefit; many companies often don’t provide clear, honest information; and loss of a home is still possible with reverse mortgages.
The CFPB is not taking legal action against any reverse mortgage lender for misleading advertising. However, this should serve as a warning to companies that false, misleading, ambiguous, and overly complicated language in advertising reverse mortgages to the public may lead to legal action.
In this two hour, live Webcast, a panel of distinguished professionals, thought leaders, and practitioners assembled by The Knowledge Group will review and discuss with attendees ways of Ensuring the Veracity of Reverse Mortgage Advertisements and Managing the Firm’s CFPB Compliance.
Key topics include:
· Reverse Mortgages
· False Advertising of Reverse Mortgages
· SAFE Act and Licensing Mortgage Loan Originators
· State-level Regulation
· Consumer Awareness, Attitudes and Motivations
· Reverse Mortgage Advertising and TILA
· RESPA Rules on Reverse Mortgage
· HECM-style Consumer Protections
· Compliance and Litigation Risks
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: http://theknowledgegroup.org/