Daily Briefs, June 10

Dykema authors new consumer financial services answer book

The Practicing Law Institute has released the first edition of its Consumer Financial Services Answer Book 2011. Authored and edited by the consumer financial services lawyers at Dykema Gossett PLLC, the book is intended to provide clear and concise answers to the many questions being asked about consumer lending following the historic enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Dodd-Frank Act has fundamentally altered the regulation of consumer financial services in the United States. It has created an entirely new regulatory agency—the Consumer Financial Protection Bureau—and has made major amendments to various federal laws governing the extension of consumer credit. Many of these important changes go into effect on July 21, 2011.

The Consumer Financial Services Answer Book 2011 describes in concise detail the regulatory structure and requirements after these revisions take place, serving as an accessible, step-by-step guide to compliance for a seasoned practitioner or someone just entering the world of consumer finance. 

Dykema partners Richard E. Gottlieb, Arthur B. Axelson, and Thomas M. Hanson edited the first edition of the book, and several other Dykema lawyers played significant roles as chapter authors. The book provides a basic primer on consumer credit, a discussion of the bureau and the changes to the consumer credit laws mandated by the Dodd-Frank Act, the core federal laws governing all consumer credit, as well as the numerous federal laws that specifically address mortgage lending.

Lead editor Richard Gottlieb is director of Dykema’s Financial Industry Group. Says Gottlieb, “We developed this comprehensive guide to clear up some of the confusion and help financial institutions and their lawyers navigate a series of new laws that will dramatically impact the compliance practices of every consumer lender, servicer and retailer.”

The Consumer Financial Services Answer Book 2011 is also a handy guide on the latest litigation trends.

The single volume Consumer Financial Services Answer Book 2011 is $235 from Practicing Law Institute and is available at www.pli.edu. It may also be purchased directly from retailers such as Amazon.com.

Congressman Hansen Clarke to speak at Cooley Law School

The Thomas M. Cooley Law School Center for Ethics, Service, and Professionalism, Alpha Phi Alpha Inc. Fraternity and Edge For Excellence is hosting an “Integrity in Our Communities” speaker series event entitled, “Ethics, Service, and Professionalism in Everything I Do.” The keynote speaker at the event is Congressman Hansen Clarke, representing the 13th District of Michigan. The event will take place from noon to 1:30 p.m. at Cooley Law School’s Auburn Hills campus in Room 145. Lunch will be provided. To RSVP, contact Dionnie Wynter at wynterd@cooley.edu