Credit Reporting under the CARES Act 

The COVID pandemic has caused financial turmoil for many consumers. For those companies that offer accommodations to help consumers during these challenging times, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) imposes specific requirements on how those companies can furnish information about such accommodations to consumer reporting agencies. This session will discuss these requirements and offer practical guidance on how to implement financial accommodations in a way that is compliant under the CARES Act. 

Brian Levy (Moderator)

Of Counsel

Katten & Temple, LLP

Brian S. Levy, Of Counsel to Katten & Temple, LLP, provides practical regulatory, transactional and dispute resolution guidance primarily to banks, mortgage lenders and vendors to mortgage bankers. Mr. Levy has unique experience with RESPA, TILA, and other mortgage origination, servicing and banking regulations, marketing and ventures, contract negotiation and loan sales, commercial and residential real estate and finance and regulatory compliance and enforcement actions. In addition to a Chicago office, Mr. Levy also maintains an office at 11512 N. Port Washington Road, Suite 101J, Mequon Wisconsin, 53092.

Kim Phan

Partner

Ballard Spahr

Kim Phan counsels clients on privacy and data security law in areas including the Gramm-Leach-Bliley Act (GLBA), the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA), and other federal and state privacy and data security statutes and regulations, including the California Consumer Privacy Act (CCPA). Her work in this area encompasses strategic planning and guidance for companies to incorporate privacy and data security considerations throughout product development, marketing, and implementation. She also assists companies with data breach prevention and response, including establishing effective data security programs prior to a breach and the assessment of breach response obligations following a breach.

 Kim writes and speaks frequently about privacy and data security issues for a variety of industries, including consumer financial services, retail, hospitality, higher education, and utilities.

 Kim also has provided extensive e-commerce and mobile counseling with clients, including adapting an augmented reality mobile game for a retail client, conducting online behavioral advertising assessments of websites in order to update and enhance website privacy policies, adapting websites functions for accessibility in compliance with the Americans with Disabilities Act (ADA), and establishing employee training on social media interactions with consumers.

 Kim's practice also focuses on providing guidance to clients on regulatory compliance matters, including supervisory and enforcement interactions with the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and other federal regulatory agencies. She has successfully represented multiple national companies through the FTC investigatory process, resulting in "no-action" letters. She has also counseled a national consumer reporting agency through its CFPB compliance obligations, including conducting risk assessments of consumer products and services, updating policies and procedures, and establishing an audit process to assess compliance with federal consumer financial laws. Kim also has counseled clients through state attorneys general and departments of consumer protection investigations.

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