Credit Reporting and COVID-19: Guidance for Consumer Financial Service Companies Reporting Consumer Credit During the Pandemic


CLE credits earned: 1 General Credit (WA 1 Law and Legal)

Experienced Troutman Pepper attorneys will take a close look at the nitty-gritty of the practical side of credit reporting during the COVID-19 pandemic and economic downturn. We will cover guidance from the Consumer Data Industry Association and very recent new guidance from the Consumer Financial Protection Bureau on the requirements of the CARES Act. We also discuss challenges faced by furnishers arising from the impact of the economic downturn (uptick of voluntary surrenders and delinquencies, disputes and more). We will revisit the status of COVID-19-inspired state efforts to directly regulate credit reporting, and the impact on credit reporting of pandemic-inspired state regulation of debt collection.

Key topics to be discussed:

• The “CARES” Act.
• Amendment to the FCRA.
• CFPB Policy Statements on Credit Reporting.
• CDIA Guidance for CARES Act.
• CDIA Guidance for Forbearance & Natural Disaster Credit Reporting; Bankruptcy Reporting & Considerations.
• Key State Actions on Credit Reporting

Date / Time: November 11, 2020

•   2:00 pm – 3:00 pm Eastern
•   1:00 pm – 2:00 pm Central
•   12:00 pm – 1:00 pm Mountain
•   11:00 am – 12:00 pm Pacific

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•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are view-able for up to one year.
Closed-captioning available upon request

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Original Broadcast Date: November 11, 2020

David Anthony | Troutman Pepper

Mr. Anthony has a national litigation practice representing companies in highly regulated industries, including consumer financial services companies. He has significant experience in class actions and complex individual lawsuits. He has significant litigation experience defending cases under the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA) and numerous other federal and state consumer protection statutes, with particular expertise in matters that often involve companion government investigations.

Clients rely on David to resolve their most difficult and complex legal and business challenges both in and out of the courtroom. David’s experience includes matters involving issues of first impression; bet-the-company litigation; the unique challenges of class actions lawsuits and mass litigation; cutting-edge claims under the FCRA, FDCPA, TCPA and other consumer protection statutes; Tribal law in the Native American online lending context; and the overlap between class action lawsuits and regulatory litigation by federal and state regulators.

He has served as lead counsel in more than 100 class action lawsuits and more than 1,500 individual lawsuits in courts across the country. David understands the outsized financial risks and high stakes associated with class-action lawsuits that impact how these cases are defended, tried and settled. He has special experience in handling cases in the Eastern District of Virginia (also known as the Rocket Docket), that has unique rules, risks and pitfalls for defendants.
Cindy Hanson | Troutman Pepper

Ms. Hanson focuses her practice on class action defense. Cindy has handled hundreds of matters under the Fair Credit Reporting Act, including over two dozen class actions. Her practice includes the representation of consumer reporting agencies, entities who furnish information to consumer reporting agencies and employers who use background check information for employment purposes. In addition, she has significant experience representing companies defending class actions under consumer protection statutes and state common law. Cindy also serves on the firm’s Policy Committee.
Alan D. Wingfield | Troutman Pepper

Mr. Wingfield is a partner in the firm’s consumer financial services practice, focusing on financial services litigation and consumer law compliance counseling. He helps businesses with the myriad federal and state consumer protection laws and laws regulating financial services and other types of consumer-facing companies. Alan has represented businesses in many venues nationally in class action and individual consumer litigation. He assists particularly with the “alphabet soup” of consumer protection statutes, including:
• Fair Credit Reporting Act (FCRA) and Regulation V (Reg V)
• Telephone Consumer Protection Act (TCPA), Telemarketing Sales Rule (TSR) and state law analog statutes
• Truth in Lending Act (TILA) and Regulation Z (Reg Z)
• Equal Credit Opportunity Act (ECOA) and Regulation B (Reg B)
• Fair Debt Collection Practices Act (FDCPA) and state law analog statutes
• Electronic Fund Transfer Act (EFTA) and Regulation E (Reg E)
• Expedited Funds Availability Act (EFAA) and Regulation CC (Reg CC)
• Section 5 of the Federal Trade Commission Act, Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank)’s Unfair, Deceptive or Abusive Acts and Practices (UDAAP) regulation, and state equivalents of the Unfair and Deceptive Act and Practices Act (UDAP)
• State laws regulating finance charges and the forms of consumer agreements, including usury laws and retail installment sales acts
• Articles 2, 3, 4, 9 and 9A of the Uniform Commercial Code (UCC)
Alan also has experience handling business litigation based on contracts and federal and state securities laws, as well as defending shareholder derivative and class action claims.

Alan provides ongoing analysis and commentary on developments in the consumer financial services industry through the Consumer Financial Services Law Monitor blog at, and as author of numerous client e-alerts.
Timothy J. St. George | Troutman Pepper

Tim’s practice includes the representation of clients in federal and state courts, at both the trial and appellate levels. Tim focuses his practice in the areas of complex litigation and business disputes, financial services litigation, and consumer litigation.

Tim is a nationally recognized expert on issues relating to the Fair Credit Reporting Act and employment background screening, as well as class action litigation. Tim currently teaches the basic and advanced FCRA certification courses for the Professional Background Screening Association, which is the leading trade association for background screening companies and employers conducting screening. Tim also serves as outside general counsel for several background screening companies.

In 2018, Tim was one of only five attorneys nationwide to be designated as a Law360 Rising Star in the field of consumer law, which identified attorneys whose legal accomplishments “transcend” their age. That same year and again in 2019 and 2020, he was also identified by Benchmark Litigation as one of the top attorneys under the age of 40 in the country.

Tim has written and spoken nationally on issues relating to complex litigation, background screening and consumer protection. He has been quoted in publications such as the National Law Journal, The Business Lawyer (American Bar Association), the Society for Human Resource Management; Law360, The Practical Litigator (American Law Institute), and the Practical Law Journal. He has led national compliance and litigation seminars/webinars on class actions, the Fair Credit Reporting Act (FCRA), class action litigation, and consumer protection.

Tim has experience in all phases of complex litigation, including serving as lead trial counsel in federal and state courts, where he has secured both jury verdicts and defense judgments for his clients. He has substantial class action experience, having served as counsel in connection with dozens of proposed class cases. He has also been lead counsel in consumer arbitrations.

Tim has also served as counsel on successful appeals before the Supreme Court of Virginia, the U.S. Court of Appeals for the Fourth Circuit and the U.S. Court of Appeals for the Ninth Circuit. Tim previously served as a law clerk to the Hon. Robert E. Payne of the United States District Court for the Eastern District of Virginia. Tim is currently serving as President of the Richmond, Virginia Chapter of the Federal Bar Association.

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2. Enforcement: Look at enforcement from Obama and Trump administrations 2:12-2:24

3. Climate Change Policy: What “green” measures has Trump rolled back? What are Biden’s policy recommendations? 2:24-2:36

4. Rule overrides and election: Examples of 3-4 rules that could possibly change after election with timelines. (Includes links to previous alerts when possible to cut down on text.) 2:36-2:48

5. Committees whose policies and direction could change post-election: If the Senate flips, who will be in leadership roles on committees that affect our clients and what have those people said about their priorities in the past. 2:48-3:00