On February 18, 2005 President Bush signed the Class Action Fairness Act into law. Two years later - on the Second Anniversary of the Act’s passage - this panel will consider the following questions. Has the act lived up to its name and restored “fairness” to the class action mechanism, or is there still more work to be done? Has expanded federal jurisdiction reduced forum shopping and the influence of so-called “magic” jurisdictions? Has the Consumer Class Action Bill of Rights improved the quality of class action settlements, particularly settlements composed, in whole or in part, of “coupon” compensation? Have the first two years of experience exposed any notable ambiguities or weaknesses in the act? How have the courts responded? Are the problems identified to date amenable to judicial resolution or is additional legislative action required?