Mark Rackers,Attorney,Sheppard, Mullin,Richter & Hampton LLP to Speak at the Knowledge Group's To Decline or to Accept?-Scrutinizing CFPB's New Arbitration Rule Proposal

Top Quote This event is scheduled for December 5, 2016 from 10:00am - 12:00pm (ET). End Quote
  • (1888PressRelease) November 29, 2016 - The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Mark G. Rackers, Attorney, Sheppard, Mullin, Richter & Hampton LLP will speak at the Knowledge Group's webcast entitled: "To Decline or to Accept? - Scrutinizing CFPB's New Arbitration Rule Proposal."

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    About Mark G. Rackers
    Mark Rackers is an Attorney in the Business Trial practice group in the firm's San Diego office and a member of the firm's Mortgage Banking and Food and Beverage Teams. He is an experienced trial attorney who represents clients in a variety of business disputes, with a special emphasis on lender liability, real estate, consumer class action defense, privacy and unfair competition.

    Mr. Rackers' practice focuses on complex business litigation with an emphasis on the financial services industry. He spent two years in Wells Fargo Bank's legal department, where he managed a portfolio of mortgage, student loan, bankruptcy, credit card, and auto finance matters in all areas of litigation, including trial. He also counseled the Bank on risk management and compliance with state and federal consumer protection regulations, including regulations relating to TILA, RESPA, TCPA, FDCPA and FCRA.

    At Sheppard Mullin, Mr. Rackers continues to counsel financial institutions on compliance matters and has successfully represented clients in both state and federal court against claims of fraud, breach of contract, unfair business practices and negligence. His experience includes all aspects of pre-trial practices, dispositive motions, and briefing before the California Courts of Appeal and the Ninth Circuit Court of Appeals. Mr. Rackers also has experience as lead trial counsel, obtaining complete victories in bench and jury trials, and has successfully argued before the California Court of Appeal.

    Mr. Rackers serves on the firm's Pro Bono Committee and heads pro bono efforts for the San Diego office.

    About Sheppard Mullin
    Sheppard Mullin is a full service Global 100 firm with 780 attorneys in 15 offices located in Beijing, Brussels, Century City, Chicago, Del Mar, London, Los Angeles, New York, Orange County, Palo Alto, San Diego, San Francisco, Seoul, Shanghai and Washington, D.C. Litigation has been at the core of the firm's practice since 1927. Sheppard Mullin's litigation practice consists more than 200 attorneys with significant trial expertise located throughout the firm who focus their full attention on representing institutional clients in state and federal trial and appellate courts, as well as in arbitration, mediation and other alternative dispute resolution proceedings. The firm provides solutions to clients at every stage of dispute resolution, from demand letters on overdue obligations to pre litigation negotiations and settlement through provisional remedies and litigation and appellate matters. The firm's litigators possess exceptional trial and appellate skills, in-depth knowledge of state and federal courts at all levels and practical business judgment, all of which contribute to the consistent delivery of solid, cost efficient results.

    Event Synopsis:
    The Consumer Financial Protection Bureau's (CFPB's) Notice of Proposed Rulemaking on Arbitration Agreements is facing a strong opposition as various organizations from the financial industry flood the agency with comments rebutting the proposed rule. The contentious regulation would prohibit mandatory arbitration clauses in consumer financial contracts and would require companies to disclose information regarding the arbitrations conducted under agreements.

    In their 42-page rebuttal, the American Bankers Association, the Consumer Bankers Association and the Financial Services Roundtable, have unanimously expressed their dissatisfaction on CFPB's perceived failure to consider alternatives. They presented arguments on the efficiency of arbitration for both consumers and financial services companies.

    The sturdy disapproval from the industry indicates a rocky road for CFPB's completion of the regulation. If finalized, the regulation is expected to cause sweeping implications to companies' consumer financial product and services offering. It would also impact the resolution of consumer disputes and the mitigation of potential liability. Firms should start mulling over numerous considerations at play.

    In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will help consumer financial services companies understand the important aspects of this significant topic. They will provide an in-depth discussion of the Proposed Rule and will also offer best practices in responding to the new regulatory landscape.

    About The Knowledge Group/The Knowledge Congress Live Webcast Series
    The Knowledge Group 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 for an event, please visit:

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