Current Litigation Risks

NAFCU

October 28, 2016

E. Andrew Keeney, Esq.

Kaufman & Canoles, P.C.

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E. Andrew Keeney, Esq.

Kaufman & Canoles, P.C.

150 West Main Street, Suite 2100

Norfolk, VA 23510

(757) 624-3153

eakeeney@kaufcan.com

http://www.kaufmanandcanoles.com/movies/credit-unions.html

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Overview and Agenda

• Trends and Traps

• Class Action Litigation

• Bond

• Indemnification

• Methods or Means to Reduce Litigation Risks

• Best Practices and Takeaways

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Trends and Traps

• Repossessions

• ADA

• FMLA

• FCRA

• Courtesy Pay

• MLA

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Class Action Litigation

Class Action Fairness Act of 2005

“Class actions can be a way of leveling the

playing field for poor or economically less

powerful individuals.”

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Class Action Litigation

• Numerosity

• Commality

• Typicality

• Adequacy of representation

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Methods or Means to ReduceClass Action Litigation Risks

• Promptly investigate all of the facts

• Fix any mistakes – immediately

• Class action counsel

• Consider arbitration

• Pleadings – Motion to Dismiss

• Settlement

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Bond

• Who is covered?

• What is covered?

• What are the coverage limits and the

deductible?

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Indemnification

• Credit union bylaws

• State laws

• Board resolution

http://www.kaufcan.com/industries/credit_unions.htm

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Courtesy Pay

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Best Practices and Takeaways

• Documentation

• Credit union policies

• Litigation hold

• Bond coverage

• Reports and monitoring

• Fight or settle?

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E. Andrew Keeney, Esq.

Kaufman & Canoles, P.C.

150 West Main Street, Suite 2100

Norfolk, VA 23510

(757) 624-3153

eakeeney@kaufcan.com

http://www.kaufmanandcanoles.com/movies/credit-unions.html

Current Litigation Risks

NAFCU

October 28, 2016

E. Andrew Keeney, Esq.

Kaufman & Canoles, P.C.