Katherine Armstrong recently spoke at the American Bar Association (ABA) Business Law Section’s Consumer Financial Services Committee in Park City, Utah. Katherine was part of a panel titled, “Remedies and Fines in Government Enforcement Actions.” Panelists discussed how government agencies, such as the CFPB and FTC, approach remedies and fines in government enforcement actions.
- How agencies measure consumer harm and restitution for violations of consumer financial laws, such as laws prohibiting UDAAPs
- How agencies use injunctive relief to prevent future wrongdoing and set industry standards
- How agencies calculate and use civil money penalties and fines to maximize deterrence
- Remedies and fines in recent government enforcement actions
- Impact of choice of forum on remedies and fines
Other panelists included Natalie Williams of CFPB, Ori Lev of K&L Gates LLP, and Kerry O’Brien of the Federal Trade Commission.