On July 21, 2011, the Consumer Financial Protection Bureau (CFPB) became the federal agency responsible for administering and enforcing the Interstate Land Sales Full Disclosure Act (ILSA). These functions previously were performed by the U.S. Department of Housing and Urban Development (HUD). As a result of this change, the CFPB will now receive all ILSA-required filings by developers as well as complaints by consumers.

Will the CFPB’s significant regulatory and enforcement impact on the consumer financial services industry now extend to ILSA matters? In this webinar, Ballard Spahr attorneys with extensive firsthand experience in dealing with the CFPB, as well as ILSA, will provide a unique overview and analysis.

Highlights

  • A discussion of CFPB investigations, including how the CFPB identifies targets and the investigation process and how ILSA complaints are processed
  • A review of recent ILSA cases, including Bacolitsas v. 86th and 3rd Owner, LLC, in which the developer prevailed against a purchaser alleging ILSA violations and was awarded more than $500,000 in attorneys’ fees
  • The CFPB’s involvement in ILSA cases, including its filing in Berlin v. Renaissance Rental Partners on the issue of whether a condominium unit is a “lot” subject to ILSA
  • A review of current ILSA regulations, guidelines, and procedures
  • Proposed legislative changes to ILSA and anticipated ILSA changes within the CFPB
  • ILSA compliance options, alternatives, strategies, and pitfalls

Program

12:00 PM - 1:00 PM ET | Webinar

Moderator

Alan S. Kaplinsky, Practice Leader
Consumer Financial Services Group

Panelists

Roger D. Winston
Real Estate Department
Team Leader, Mixed-Use Development and Condominiums

Patrick H. Pugh
Real Estate and Construction Litigation Group
Consumer Financial Services Group

Sarah T. Reise
Consumer Financial Services Group

There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa Prickril at prickrill@ballardspahr.com.

Program Contact

Lisa M. Prickril
215.864.8252
prickrill@ballardspahr.com