Podcasts by Consumer Finance Monitor
The Consumer Financial Services industry is changing quickly. This weekly podcast from national law firm Ballard Spahr focuses on the consumer finance issues that matter most, from new product development and emerging technologies to regulatory compliance and enforcement and the ramifications of private litigation. Our legal team—recognized as one of the industry's finest— will help you make sense of breaking developments, avoid risk, and make the most of opportunity.
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The Biden Administration’s “Junk Fees” Initiative Continues: What the Latest Actions Mean for the Consumer Financial Services and Rental Housing Industries, Part I from 2023-12-07T14:15
This two-part podcast repurposes our most recent webinar on the latest salvo of actions in the Biden Administration’s initiative directed at combatting so-called “junk fees.” L...
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A Close Look at the Federal Trade Commission’s Proposed Rule to Regulate “Junk Fees” from 2023-11-28T14:00
In October 2023, the FTC issued a proposed “Rule on Unfair or Deceptive Fees” targeting so-called “junk fees.” Our special guest is Stacy Cammarano, Staff Attorney in the FTC’s...
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Consumer Finance Impact of a CFPB Run Amok from 2023-11-22T14:01
Switching from his usual role as frequent host of the Consumer Finance Monitor Podcast, Alan Kaplinsky, Senior Counsel in and former Practice Group Leader of Ballard Spahr’s Co...
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Prohibited by Law and Totally Ineffective—Just Two of the Many Reasons Why the CFPB Should Deny the Petition for Rulemaking on Post-Dispute Consumer Arbitration Agreements from 2023-11-16T14:00
Our special guest is David Sherwyn, Professor of Law at Cornell University's School of Hotel Administration. In Sept. 2023, a group of consumer advocate organizations filed a P...
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A Deep Dive Into the Consumer Financial Protection Bureau’s Policy Statement on Abusive Acts and Practices Under the Consumer Financial Protection Act from 2023-11-09T14:00
The CFPB recently issued a policy statement in which it provided a framework for determining what constitutes abusive conduct under the CFPA. After reviewing the definition of ...
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The U.S. Supreme Court’s Decision in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau: Who Will Win and What Does It Mean? Part II from 2023-11-02T13:00
On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB, a case with profound potential implications for the future of the CFPB. The Court will rule on wh...
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The U.S. Supreme Court’s Decision in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau: Who Will Win and What Does It Mean? Part I from 2023-10-26T12:58
On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB, a case with profound potential implications for the future of the CFPB. The Court will rule on wh...
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Understanding the Credit Card Competition Act a/k/a Durbin 2.0 from 2023-10-19T13:00
Our special guest is Zarik Khan, Founder and Managing Director of Finsolute Advisors. Congress is now considering whether to enact the CCCA, a bill that would require credit ca...
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A Look at the Impact of New Developments in Payment Systems on Low-Income Consumers from 2023-10-12T13:24
Our special guest is Mark Budnitz, Professor Emeritus, Georgia State University College of Law. In an article recently published in the Georgetown Journal on Poverty Law and Po...
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A Close Look at the Federal Trade Commission’s Updates to its Guides on the Use of Endorsements and Testimonials in Advertising and Proposed Rule on the Use of Consumer Reviews and Testimonials from 2023-10-05T13:13
Our special guest is Michael Ostheimer, Senior Consumer Protection Attorney in the FTC’s Division of Advertising Practices. In June 2023, the FTC updated its guides that set fo...
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Federal Court Rules CFPB Cannot Use UDAAP Authority to Regulate Discrimination: A Close Look at the Decision and its Implications from 2023-09-28T13:00
In March 2022, the Consumer Financial Protection Bureau announced that it had revised its examination manual to instruct its examiners to apply the “unfairness” standard under ...
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Shining a Bright Light on Digital Dark Patterns from 2023-09-21T13:00
Our special guest is Andrew Nigrinis, PhD, who formerly served as Enforcement Economist for the Consumer Financial Protection Bureau. We first discuss what is meant by “dark pa...
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What is FedNow and its Role in the U.S. Payments System? from 2023-09-14T13:20
Our special guest is Professor Dan Awrey of Cornell Law School. In July 2023, the Federal Reserve launched FedNow, its instant payments system. After reviewing what FedNow is (...
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Responding to Direct and Indirect Identity Theft Disputes Under the FCRA: What Are The Differences? from 2023-09-07T13:14
We first review the Fair Credit Reporting Act provisions that establish the different requirements for how a creditor or other furnisher of information to a credit bureau must ...
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Should Section 5 of the FTC Act be Amended to Add a Private Right of Action? from 2023-08-31T13:14
Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices, does not include a private right of action. Our special guest, Professor Myriam E. Gilles of Ca...
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A Look at the Growing Use of Generative Artificial Intelligence and Chatbots in Consumer Financial Services, with Special Guests Ron Shevlin, Chief Research Officer, Cornerstone Advisors, and Reggie Young, Product Counsel, Lithic from 2023-08-24T13:06
We first look at what generative AI is and how it differs from other types of AI and technology such as machine learning. We then look at the ways in which banks and fintech co...
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An Even Deeper Dive into the CFPB’s Final Dodd-Frank Section 1071 Rule on Small Business Data Collection from 2023-08-17T13:00
The CFPB’s final rule implementing Section 1071 requires financial institutions to collect and report certain data in connection with credit applications made by small business...
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A Deep Dive Into Cryptocurrency and its Risks to Investors and the Banking System, with Special Guest, Arthur E. Wilmarth, Professor Emeritus, George Washington University Law School from 2023-08-10T13:11
After discussing what fluctuating- value cryptocurrencies and stablecoins are, their differences, and their primary uses and risks, we discuss the factors that led to the crypt...
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The Challenges of Using the Current Law to Address Dark Patterns, A Conversation with Special Guest Gregory Dickinson, Assistant Professor, St. Thomas University, Benjamin L. Crump College of Law from 2023-08-03T13:07
After discussing what are “dark patterns” and the most common forms they can take, we consider whether and how “dark patterns” used to influence consumers’ online behavior diff...
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Should Written Contracts be Eliminated for Small Dollar Transactions? A Conversation with Special Guest David Hoffman, Professor and Deputy Dean, University of Pennsylvania Carey Law School from 2023-07-27T12:58
Professor Hoffman first explains his thesis that falling transaction costs has led to the proliferation of form contracts into areas where they little have social value, result...
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What the Biden Administration’s “Junk Fees” Initiative Means for the Consumer Financial Services Industry: A Look at the Fees Under Attack, Part II from 2023-07-20T13:16
The Biden Administration has launched an initiative directed at combatting so-called “junk fees,” with the CFPB and FTC leading the Administration’s efforts. In Part II of this...
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What the Biden Administration’s “Junk Fees” Initiative Means for the Consumer Financial Services Industry: A Look at the Fees Under Attack, Part I from 2023-07-13T13:01
The Biden Administration has launched an initiative directed at combatting so-called “junk fees,” with the CFPB and FTC leading the Administration’s efforts. In Part I of this ...
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A Close Look at the U.S. Supreme Court’s Decision Invalidating the Biden Administration’s Student Loan Forgiveness Plan and its Potential Legal Repercussions and Impact on Student Loan Borrowers from 2023-07-06T13:01
Last Friday, the U.S. Supreme Court ruled that the Biden Administration did not have the legal authority to proceed with its plan to forgive approximately $400 billion in feder...
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The Legality of “Regulation by Enforcement” and Other Considerations, A Discussion with Special Guest, David Zaring, Professor, Wharton School of the University of Pennsylvania from 2023-06-29T13:00
The use of enforcement by the Consumer Financial Protection Bureau and other federal agencies rather than administrative rulemaking to advance novel legal theories has been wid...
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A Look at the Treasury Department's April 2023 Report on Decentralized Finance or "DeFi" from 2023-06-22T12:37
The report examines the vulnerabilities in DeFi, including potential gaps in the United States’ Bank Secrecy Act/anti-money laundering regulatory, supervisory, and enforcement regimes for DeFi. ...
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A Look at the Current Challenge to Judicial Deference to Federal Agencies and What it Means for the Consumer Financial Services Industry, With Special Guest, Craig Green, Professor, Temple University School of Law from 2023-06-15T12:24
Since the U.S. Supreme Court’s 1984 Chevron decision, federal courts have typically applied a two-step analysis known as the “Chevron framework” to determine whether a court sh...
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The Consumer Financial Protection Bureau’s Final Section 1071 Rule on Small Business Data Collection: What You Need to Know, Part II, with Special Guest David Skanderson, Vice President, Charles River Associates from 2023-06-08T13:05
At the end of March 2023, the CFPB issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to ...
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The Consumer Financial Protection Bureau’s Final Section 1071 Rule on Small Business Data Collection: What You Need to Know, Part I from 2023-06-01T13:01
At the end of March 2023, the CFPB issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to ...
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A Deep Dive into Mass Arbitration, with Special Guest Andrew Pincus, Partner, Mayer Brown from 2023-05-25T13:00
After discussing what mass arbitration is and its growing use for claims against companies in the consumer finance industry, we discuss the factors that make companies most vul...
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Perspectives on Counseling on the Creation of Consumer Finance Products, with Special Guest Joseph Schuster, Managing Director and Senior Counsel, Goldman Sachs from 2023-05-18T12:48
Our discussion looks at the role of in-house and outside counsel in the development and launch of new consumer financial products. We first discuss the range of issues to be co...
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A Close Look at the Impact of Antitrust Laws on the Consumer Financial Services Industry from 2023-05-11T13:08
The consumer financial services industry has become the target of increasing regulatory scrutiny under antitrust laws as well as class action antitrust litigation that challeng...
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CFSA v. CFPB Moves to the U.S. Supreme Court: A Look at Constitutional Challenges to the CFPB's Funding, with Special Guest, GianCarlo Canaparo, Senior Legal Fellow in The Heritage Foundation's Edwin Meese III Center for Legal and Judicial Studies from 2023-05-04T13:17
The U.S. Supreme Court has agreed to review the Fifth Circuit decision in CFSA v. CFPB that held the CFPB’s funding violates the Appropriations Clause of the U.S. Constitution....
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Recent Federal and State Debt Collection Developments from 2023-04-27T13:15
Third-party debt collectors, first-party creditors, and debt buyers face an ever-evolving federal and state regulatory landscape as well as ongoing private litigation. We first...
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A Close Look at Generative Artificial Intelligence and What it Means for the Consumer Finance Industry, with Special Guest Alex Johnson, Founder and Author of Fintech Takes Newsletter from 2023-04-20T13:15
Our discussion focuses on generative artificial intelligence, a new and emerging category of AI. We first discuss what generative AI is, its use of large language models, and t...
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Performance-Based Regulation: A New Approach to Consumer Financial Regulation, with Special Guest Lauren Willis, Professor of Law and Associate Dean for Research, LMU Loyola Law School from 2023-04-13T14:28
Professor Willis advocates the adoption of a performance-based approach to regulation to replace or supplement the current approach of disclosure and design regulation. We firs...
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A Primer on “Dark Patterns,” with Special Guest Andrew Nigrinis, PhD, Managing Principal, Edgeworth Economics, and Former Consumer Financial Protection Bureau Enforcement Economist from 2023-04-06T13:45
The CFPB and FTC have targeted the use of “dark patterns” on websites to influence consumer behavior. We first discuss what regulators consider to be dark patterns and why they...
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How a Former FDIC Chairman is Reacting to the Silicon Bank Valley Failure, A Discussion with Special Guest Bill Isaac, Chairman, Secura/Isaac Group, and FDIC Chairman from 1981-1985 from 2023-03-28T13:45
After reviewing the circumstances leading to the failure of SVB and historic parallels, we discuss the merits of the regulators’ decision to invoke the Systemic Risk Exception ...
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SCOTUS Hears Oral Argument in Cases Challenging Biden Administration Student Loan Forgiveness Plan: Observations and Predictions from 2023-03-23T12:55
On February 28, 2023, the U.S. Supreme Court heard nearly four hours of oral argument in two separate cases challenging the Biden Administration’s authority to proceed with its...
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A Deep Dive into Mass Mailings by Debt Relief Law Firms from 2023-03-16T13:20
In recent months, debt relief law firms have mailed volumes of cease and desist letters, credit reporting disputes, and debt validation requests to creditors. These mailings, w...
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A Close Look at the Consumer Financial Protection Bureau’s Credit Card Late Fees Proposal, with Special Guest Todd J. Zywicki, Professor of Law, George Mason University Antonin Scalia Law School from 2023-03-09T14:19
The CFPB has issued a proposal that would make significant changes to the current rules for credit card late fees, including substantially reducing the safe harbor late fee amo...
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The Consumer Financial Protection Bureau’s Proposals to Create Two Public Registries for Nonbanks: What You Need to Know, Part II from 2023-03-02T14:02
The CFPB recently issued two proposals that would require nonbanks to register with and submit information to the CFPB for publication in an online, publicly available database...
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The Consumer Financial Protection Bureau’s Proposals to Create Two Public Registries for Nonbanks: What You Need to Know, Part I from 2023-02-23T13:46
The CFPB recently issued two proposals that would require nonbanks to register with and submit information to the CFPB for publication in an online, publicly available database...
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A Close Look at the Recent Study of the Effects of Illinois' 36% “All-In” Interest Rate Cap on Small-Dollar Credit Availability, with Special Guest Tom Miller, Professor of Finance, Mississippi State University, and Study Co-Author from 2023-02-16T14:15
Using data for the last quarter of 2020 and first three quarters of 2021, the study examined the effects of the 36% rate cap imposed by the Illinois Predatory Loan Prevention A...
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A Close Look at the Federal Trade Commission’s Proposal to Ban Non-Compete Agreements from 2023-02-09T14:19
With one Republican Commissioner dissenting, the FTC has issued a notice of proposed rulemaking that would ban non-compete agreements between employers and workers nationwide, ...
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How the New York Department of Financial Services (DFS) Regulates Virtual Currency, a Close Look with Special Guest Kaitlin Asrow, Executive Deputy Superintendent of Research and Innovation, DFS from 2023-02-02T14:31
After reviewing the licensing/chartering/approval structures that DFS uses for entities seeking to engage in virtual currency activities, we discuss the role of guidance in DFS’s regulation and ...
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How the U.S. Supreme Court Will Decide the Threat to the CFPB’s Funding and Structure: Part II with Adam J. White, a Renowned Expert on Separation of Powers and the Appropriations Clause and a Close Follower of the Supreme Court from 2023-01-26T14:21
The eyes of the consumer finance world are now on the Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Consumer Financial Services Association Ltd. v. CFPB. In the ...
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How the U.S. Supreme Court Will Decide the Threat to CFPB's Funding and Structure: Part I, with Adam J. White, a Renowned Expert on Separation of Powers and the Appropriations Clause and a Close Follower of the U.S. Supreme Court from 2023-01-19T14:21
The eyes of the consumer finance world are now on the Supreme Court as it decides whether to grant the CFPB’s certiorari petition in CFSA v. CFPB. In the decision, a Fifth Circuit panel held the...
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An Update on Diversity, Equity, and Inclusion in the Consumer Financial Services Industry, with Special Guest Naomi Mercer, Senior Vice President for Diversity, Equity, and Inclusion, American Bankers Association from 2023-01-12T14:17
We first discuss the multiple benefits of diversity, equity, and inclusion (DEI) for financial institutions, the challenges and opportunities institutions face in implementing a DEI strategy, an...
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Is the U.S. Payments System Failing Business and Consumers? A Discussion with Special Guest Dan Awrey, Professor of Law, Cornell Law School from 2023-01-05T14:15
After discussing the core features of the U.S. payments systems, we look at how those features have impacted the experience of U.S. business and consumers and why Prof. Awrey believes they have ...
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The Federal Trade Commission’s Proposed Rule for Auto Dealers from the Perspective of Auto Dealers and Auto Finance Companies, with Guests Paul Metrey, National Automobile Dealers Association, and Richard Hackett, Consumer Financial Protection Bureau from 2022-12-29T14:15
The FTC’s proposal would impose a number of new substantive and disclosure requirements on auto dealers in connection with the car buying or leasing process. We first discuss NADA’s comment lett...
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A Look at the Consumer Financial Products Offered by Fintechs and the Regulatory Issues They Raise, with Special Guests Penny Lee, Financial Technology Association (FTA), and Gerron Levi, American Fintech Council (AFC) from 2022-12-22T14:36
We begin with a discussion of the goals and themes of FTA’s recent summit and AFC’s advocacy regarding retention of the strategic plan option under the Community Reinvestment Act. We then discus...
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A Close Look at Earned Wage Access (EWA) Products, with Special Guest Molly Jones, Vice President for Government Affairs, Payactiv from 2022-12-15T14:00
Payactiv, which as the first EWA provider began an EWA program about 13 years ago, partners with employers to offer their employees EWA. We first discuss what EWA is, the structure of the employ...
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Using Financial Technology to Improve Consumers’ Financial Health, a Conversation with Special Guest Leigh Phillips, President and CEO of SaverLife and Chair of the CFPB’s Consumer Advisory Board (CAB) from 2022-12-08T14:15
SaverLife is a national non-profit sponsored by some of the nation’s leading financial institutions that uses financial technology to improve the financial health of low- to-moderate income cons...
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Recent Enforcement Activities of State Attorneys General, with Special Guest Shennan Kavanagh, Division Chief, Consumer Protection Division (CPD), Massachusetts Attorney General's Office from 2022-12-01T14:00
While most attention is focused on the CFPB, state attorneys general are very active in investigating and enforcing state laws relating to consumer financial services (and often federal laws whe...
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Mortgage Redlining: A Look at the Ongoing Challenges for Banks and Non-Banks, with Special Guest Abby Hogan, Regulatory Attorney and Former Analyst in the Office of Fair Lending and Equal Opportunity, Consumer Financial Protection Bureau from 2022-11-23T14:00
We first review the origins of mortgage redlining and discuss the concept of reverse redlining and new theories of redlining. We then look at a wide range of topics including: the application of...
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Two Federal Courts Deal Blow to Biden Administration’s Federal Student Loan Forgiveness Program: A Close Look at the Decisions from 2022-11-17T14:20
After reviewing the background of the current moratorium on federal student loan payments and the Biden Administration’s decision to grant loan forgiveness, we discuss two recent decisions that ...
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Electronic Contracting: The New Restatement of Consumer Contracts and Other Emerging Regulatory and Litigation Issues, with Special Guest Florencia Marotta-Wurgler, Professor, New York University Law School, and Restatement Co-Reporter from 2022-11-10T14:26
E-commerce and electronic contracting are more important than ever as we move into the post-COVID 19 era. We first review legal requirements for electronic contracting and disclosures including ...
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The Consumer Financial Protection Bureau’s Report on Buy-Now-Pay-Later (BNPL): What are the Takeaways and the CFPB’s Expected Next Steps? from 2022-11-03T13:00
The CFPB’s growing interest in and scrutiny of BNPL comes at a time when the BNPL industry is experiencing rapid growth. That makes it imperative for both companies currently offering BNPL produ...
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Fifth Circuit Rules that the Consumer Financial Protection Bureau is Unconstitutionally Funded: What Does the Decision Mean? A Deep Dive with Special Guest Isaac Boltansky, Managing Director and Director of Policy Research, BTIG from 2022-10-27T13:42
In a decision with enormous potential implications, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit has ruled that the manner in which the CFPB is funded violate...
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How Will the Anti-Money Laundering Act of 2020 (AMLA) and the Corporate Transparency Act (CTA) Impact Banks’ Anti-Money Laundering Compliance Under the Bank Secrecy Act (BSA)? A Discussion with Guest Matt Haslinger Chief BSA/AML/OFAC Officer, M&T Bank from 2022-10-20T13:00
After reviewing how the AMLA expands the BSA’s goals, we look at which AMLA provisions have the most impact on BSA compliance, including the AMLA’s emphasis on information sharing, the Financial...
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Use of the FDIC Name and Logo: Proceed With Caution from 2022-10-13T13:30
We discuss the FDIC’s final rule on misuse of the FDIC name or logo, advisory to insured banks on deposit insurance and dealings with crypto companies, and cease and desist letters to five crypt...
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A Look at the Metaverse’s Legal Implications, with Special Guest Samantha Green, Director of Content Marketing, Epiq from 2022-10-06T12:47
After discussing what the Metaverse is and its possible uses by providers of legal and other services, we look at an array of legal issues that should be considered by lawyers and their clients ...
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A Close Look at Open Banking and the Role of Data Aggregators, with Special Guests Julian Alcazar, Payments Specialist, Federal Reserve Bank of Kansas City, and Adam Maarec, Senior Director and Associate General Counsel, Capital One from 2022-09-29T13:00
After reviewing the roles of data aggregators and other key players in the data aggregation market, we discuss the implications of the transition from screen scraping to application programming ...
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A Close Look at The FDIC’s Supervisory Guidance and Class Action Litigation Regarding Multiple Non-Sufficient Funds Fees Arising from Re-Presentment of the same Unpaid Transaction from 2022-09-22T13:24:57
We discuss each of the three categories of risk identified in the guidance (consumer compliance, third-party, and litigation), plaintiffs’ legal theories in class actions challenging NSF fees, t...
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CFPB Director Chopra Speaks to the Media: A Look at the Takeaways, with Special Guest Jon Hill of Law360 from 2022-09-15T13:01:49
Jon Hill was among a group of reporters to whom Director Chopra recently gave a series of interviews in which he provided significant insights into his views on a range of topics. We review rece...
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A Look at Recent Federal Trade Commission and Consumer Financial Protection Bureau Initiatives Concerning Privacy and Data Security from 2022-09-08T12:34:36
Our discussion examines the FTC’s Advanced Notice of Proposed Rulemaking relating to what it describes as “commercial surveillance” and the CFPB’s circular confirming that covered persons and se...
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The Third Circuit’s decision in Bibbs v. Trans Union: What it means for Fair Credit Reporting Act litigation from 2022-09-01T12:50:42
In Bibbs, the Third Circuit ruled that in determining whether a credit report is inaccurate or misleading under the FCRA’s “maximum possible accuracy” requirement, a district court should apply ...
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A Deep Dive Into Buy-Now-Pay-Later With Special Guests Nikita Aggarwal, Postdoctoral Fellow, UCLA School of Law, and Chris Odinet, Professor of Law, University of Iowa, College of Law from 2022-08-25T13:53:09
Joined by two experts on the BNPL industry, we first review the types of BNPL products currently available, how they are accessed by consumers, how they generate revenue for industry participant...
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Regulatory and Economic Challenges Facing Banks: A Conversation with Special Guest Keith Noreika, Executive Vice President and Chairman of Patomak Global Partners’ Banking Supervision and Regulation Group, and Former Acting Comptroller of the Currency from 2022-08-18T13:00:26
In our discussion of regulatory challenges, we consider the continuing impact of “true lender” challenges on bank-nonbank partnerships, how regulators approach industry innovation, and whether r...
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A Close Look at The Federal Trade Commission’s Proposed Rule For Motor Vehicle Dealers, With Special Guests Sanya Shahrasbi and Daniel Dwyer, Staff Attorneys, FTC Bureau of Consumer Protection, Division of Financial Practices from 2022-08-11T12:39:10
The FTC’s proposal would impose a number of new substantive and disclosure requirements on motor vehicle dealers in connection with the car buying or leasing process. The topics we cover include...
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The U.S. Chamber of Commerce’s Campaign Against CFPB Director Chopra’s Attempt “to Radically Reshape the American Financial Services Sector”: A Discussion With Bill Hulse, Vice President, U.S. Chamber of Commerce Center for Capital Markets Competi from 2022-08-04T13:06:32
We first review the views expressed by Director Chopra and CFPB actions taken under his leadership that led the Chamber to launch its campaign. We then discuss the campaign’s specific components...
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Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders from 2022-07-28T13:22:33
In a recent consent order with a national bank, the CFPB found that the bank committed UDAAP violations in its process for handling garnishment orders and by including certain waiver language in...
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The Role of Government Regulation and the CFPB’s Approach, with Special Guest Cary Coglianese, Professor of Law, University of Pennsylvania Law School, and Director of the Penn Program on Regulation from 2022-07-21T12:54:57
We first discuss the practicalities and potential impact of implementing Director Chopra’s call in a recent blog post for simplification of consumer finance regulations and simple bright-line ru...
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A Close Look at the Justice Department’s Settlement with Meta (Formerly Facebook) to Resolve Alleged Fair Housing Act Violations Arising from Meta’s Targeted Advertising System from 2022-07-14T13:08:18
After reviewing the developments leading up to the settlement, we examine the aspects of Facebook’s advertising delivery system that were alleged to be discriminatory. We then discuss the terms ...
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Using Artificial Intelligence in Underwriting Consumer Loans, with Special Guest Teddy Flo, General Counsel and Secretary of Zest AI from 2022-07-07T13:15:58
Together with our special guest whose company provides software enabling lenders to use AI to underwrite loans, we explore a wide range of issues of importance to lenders using AI to underwrite ...
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Innovative Products: Understanding the Regulatory and Enforcement Risks from 2022-06-30T13:00:42
We discuss key regulatory issues for innovative products such as buy-now-pay later, longer term installment loans, delay pay, and card-based products (such as “virtual cards.”) We look at the di...
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A Look at the Joint Community Reinvestment Act Proposal Issued by the OCC, FDIC, and Federal Reserve Board, with Special Guest Kenneth Thomas, President of Community Development Fund Advisors, LLC from 2022-06-23T13:04
Dr. Thomas is widely-viewed as the nation’s leading CRA expert and has advised federal regulators on CRA reform. After reviewing CRA’s origins and purpose, we discuss how the new proposal differ...
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A Conversation with Special Guest Peggy Twohig, Former CFPB Assistant Director for Supervision Policy and Strategy from 2022-06-16T13:00:17
Ms. Twohig, a recognized consumer finance expert, shares her insights regarding the CFPB’s supervisory program. Our discussion topics include: the differences between the CFPB’s supervisory prog...
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CFPB Director Rohit Chopra: Do His Words Speak Louder Than His Actions? from 2022-06-09T13:22:37
We first share our perspective on Director Chopra’s approach to his leadership role and use of the CFPB’s authority, his priorities, and political dynamics impacting the CFPB. We then discuss th...
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An Update on the Debate Over Federal Student Loan Forgiveness from 2022-06-02T12:53:49
We discuss the Biden Administration’s recent change in tone on forgiveness, alternative approaches to full forgiveness the President might take, potential legal sources of the President’s author...
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A Conversation with Special Guest Phil Weiser, Colorado Attorney General from 2022-05-26T12:49:30
AG Weiser discusses the areas of consumer financial services that are a current focus of his office’s efforts. After discussing the role of the newly-created Office of Financial Empowerment in a...
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The American Law Institute’s Restatement of the Law, Consumer Contracts: An Introduction for Consumer Financial Services Providers, with Special Guest Steven O. Weise, ALI Council Member from 2022-05-16T13:00:50
With ALI’s members poised to approve the current draft of the new Restatement, providers need to understand the Restatement’s impact on their consumer agreements, particularly those entered into...
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The CFPB Invokes its “Dormant Authority” to Supervise Nonbanks that Present Risks to Consumers: What it Means for Nonbank Providers of Consumer Financial Products and Services from 2022-05-12T13:21:54
We first review the scope of the CFPB’s supervisory authority granted by Dodd-Frank and the source of its authority to supervise nonbanks that present risks to consumers. We then discuss how we ...
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Recent Small Business and Consumer Finance Developments at the Federal Trade Commission, with Special Guest Malini Mithal, Associate Director, FTC Division of Financial Practices from 2022-05-05T13:17:48
We discuss the industries and practices that have been the subject of recent FTC enforcement focus, including: marketing, servicing, and collection practices involving small business financing s...
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A Look at New Privacy Litigation Targeting the Sharing of Consumer Personal Data from 2022-04-28T13:19:26
We discuss the growing trends in privacy litigation, particularly litigation targeting company practices regarding the sharing and sale of consumer personal data, plaintiffs’ liability theories,...
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Understanding the Legislative and Regulatory Priorities of Consumer Advocates: A Conversation with Special Guest Lauren Saunders, Associate Director, National Consumer Law Center from 2022-04-21T13:02:20
We first look at NCLC’s legislative priorities, which include a 36% national interest rate cap and credit reporting reform, and the prospects for Congressional action. Ms. Saunders then provides...
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The CFPB Takes Aim at Discrimination as “Unfair”: What Does It Mean For Your Business? from 2022-04-14T12:21:42
The CFPB recently announced that it is updating its exam manual to direct its examiners to consider discriminatory conduct an “unfair” act or practice represents a significant expansion of its U...
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Has America’s Civil Justice System Crashed? A Conversation with Special Guests and Consumer Advocates Harvey Rosenfield, President of the Consumer Education Foundation, and Laura Antonini, Policy Director of #REPRESENT from 2022-04-07T12:46:29
Our special guests are the authors of a 259-page study, “Reboot Required: The Civil Justice System Has Crashed,” which makes the case that the civil justice system has been corrupted by corporat...
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A Look at the CFPB’s First Months under Director Rohit Chopra, with Special Guest Chris Peterson, John J. Flynn Endowed Professor of Law, University of Utah's S.J. Quinney College of Law from 2022-03-31T13:30:29
Professor Peterson, who served at the CFPB under former Director Cordray, shares his perspective on the CFPB’s publicly-announced enforcement activities and initiatives under Director Chopra and...
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An Update on Telephone Consumer Protection Act Litigation in the Aftermath of the U.S. Supreme Court’s Decision in Facebook v. Duguid from 2022-03-24T12:53:52
Although the decision narrowed the technology covered by the TCPA’s automatic telephone dialing system definition, the TCPA continues to be very dangerous. We first discuss the plaintiff bar’s c...
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A Close Look at Lead Generation and the Compliance Risks for Lead Generators and Lead Buyers from 2022-03-17T12:54:47
We discuss how lead generation works, the roles of the various players in the lead generation marketplace, the key regulatory risks arising under the Fair Credit Reporting Act, Telephone Consume...
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The CFPB’s Inquiry Into “Junk Fees”: What It Means For Consumer Financial Services Providers from 2022-03-10T14:15:52
The CFPB’s recently-issued request for information takes aim at what the CFPB labels “junk fees” charged by consumer financial services providers. We discuss the types of fees targeted in the RF...
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The Business of Cryptocurrency: A Discussion of Key Regulatory Issues from 2022-03-03T13:51:29
In addition to discussing what cryptocurrency is, we look at some of the regulatory rules that apply to this increasingly popular but complicated financial instrument, including registration and...
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A Deep Dive into Mass Arbitration: Part II, with Special Guest Maria Glover, Professor of Law at Georgetown University Law Center from 2022-02-24T14:01:19
Prof. Glover is the author of the first major academic study of mass arbitration, which is soon to be published as a law review article. In Part II of this two-part podcast, we discuss the econo...
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A Deep Dive into Mass Arbitration: Part I, with Special Guest Maria Glover, Professor of Law at Georgetown University Law Center from 2022-02-17T17:21:12
Prof. Glover is the author of the first major academic study of mass arbitration, which is soon to be published as a law review article. In Part I of this two-part podcast, after reviewing the h...
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The CFPB’s Approach to Regulating Payday Lending: A Discussion with Todd J. Zywicki, Professor of Law at George Mason University Antonin Scalia Law School, and Thomas Miller, Professor of Finance at Mississippi State University from 2022-02-10T13:52:32
Profs. Zywicki and Miller have co-authored a soon-to-be published study, “The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market,” in which they analyzed 15.6 millio...
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What Will 2022 Hold for Fintechs in the Consumer Financial Services Industry---A Discussion with Special Guest Todd Baker, Senior Fellow at the Richman Center for Business, Law&Public Policy at Columbia University from 2022-02-03T14:15:22
Rising interest rates and inflation are two key factors that are expected to create a more challenging business environment in 2022. Based on his work at the intersection of technology and financi...
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A Look at Key Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Developments in 2021 and Expectations for 2022 from 2022-01-27T13:42:45
The topics discussed include the historic changes made by the AML Act at the beginning of 2021, including the Corporate Transparency Act (CTA); the proposed FinCEN rules to implement the CTA’s b...
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What Will 2022 Hold for the Consumer Finance Industry--A Conversation with Special Guests Evan Weinberger, Correspondent at Bloomberg Law, and Jon Hill, Senior Banking Reporter at Law360 from 2022-01-20T14:28:38
In this wide-ranging conversation with two experienced reporters on the consumer finance industry, we discuss differences between the current CFPB and the Trump-era CFPB, including with regard t...
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Pitfalls of Using Subscription Services in the Consumer Financial Services Industry from 2022-01-13T14:16:18
We look at the legal considerations that should be addressed when developing subscriptions for consumer financial products and services. After reviewing the practices addressed by federal and st...
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Cancel Culture in the Consumer Financial Services Industry: A Discussion with Special Guest Todd J. Zywicki, Professor of Law at George Mason University Antonin Scalia Law School from 2022-01-06T14:05:45
Professor Zywicki shares his views on the current trend of denying access to financial services to politically-disfavored industries or based on political views, whether through the actions of b...
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What Every CEO and General Counsel Needs to Know About New CFPB Director Chopra, with Special Guest Raj Date, Managing Partner of Fenway Summer LLC from 2021-12-30T14:28:56
Having previously worked closely with CFPB Director Chopra while he served as the CFPB's Acting Director and its first Deputy Director, Mr. Date provides a unique perspective on Director Chopra’...
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The Federal Trade Commission’s Updated Gramm-Leach-Bliley Act Safeguards Rule – What You Need to Know from 2021-12-16T14:15:07
The FTC’s recently updated rule implementing GLB standards for safeguarding customer information replaces the flexibility previously given to financial institutions in developing an information ...
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A Close Look at the Final Rule Requiring Notification of Ransomware and Similar Computer-Security Incidents Issued by the Office of the Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation from 2021-12-09T14:22:10
We discuss the new notification requirements that the final rule places on both U.S. banking organizations and bank service providers relating to ransomware and similar computer security inciden...
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“The Case For Regulation Through Rulemaking&Guidance”: A Discussion of the Consumer Bankers Association’s White Paper with Special Guests Dan Smith, CBA Executive Vice President, and Ebony Johnson, CBA Associate General Counsel from 2021-12-02T14:16:48
Joined by two CBA representatives who previously served at the CFPB, we discuss the key arguments advanced in the white paper for why rulemaking and informal written guidance are more effective ...
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CFPB Director Chopra’s Targeting of “Digital” or “Algorithmic” Redlining: What It Means for Providers of Technology and Consumer Credit from 2021-11-18T14:04:38
After reviewing federal regulators’ traditional theory of redlining, we discuss the types of underwriting practices that are likely targeted by Director Chopra’s recent comments expressing conce...
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A Look at the Legal Issues Raised by Targeted Advertising from 2021-11-11T14:14:45
Targeted advertising has become an important marketing tool for many providers of consumer financial services. After discussing the primary screening methods offered to providers for identifying...
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A Close Look at the CFPB's Section 1071 Proposed Rule to Expand Data Collection and Reporting in the Small Business Lending Market: Part II from 2021-11-04T13:00:53
In Part II of this two-part podcast, we continue our examination of the CFPB’s proposed rule implementing Sec. 1071 of the Dodd-Frank Act which would impose significant new data collection and r...
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A Close Look at the CFPB's Section 1071 Proposed Rule to Expand Data Collection and Reporting in the Small Business Lending Market: Part I from 2021-10-28T13:00
In Part I of this two-part podcast, we examine the CFPB’s proposed rule implementing Sec. 1071 of the Dodd-Frank Act which would impose significant new data collection and reporting requirements...
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CFPB Enforcement Action Developments and Trends from 2021-10-21T13:20:40
CFPB enforcement activity has already ramped up and the pace is expected to increase with Director Chopra now at the helm. We look at the areas expected to be the focus of intensified enforcemen...
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Hot Issues in Auto Finance from 2021-10-14T12:51:57
We discuss recent developments concerning fair lending and ancillary products, including the potential industry-wide implications of recent New York and Massachusetts consent orders and our expe...
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Preparing for the End of COVID-19-Related Hardship Assistance Programs from 2021-10-07T12:58:02
We look at the issues creditors and debt collectors should be considering in preparation for the surge in delinquencies that is expected to occur once consumers are required to fully resume maki...
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Still in the Crosshairs: An Update on Bank Overdraft Practices from 2021-09-30T16:00
Despite having been a target for over a decade, bank overdraft practices still remain a focus of regulators and plaintiffs’ class action attorneys. We discuss federal and state legislative, regu...
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A Look at Recent Developments related to Marketing by Nonbanks of Products and Services Offered with Bank Partners from 2021-09-23T15:01:01
Marketing by nonbanks of products and services offered with bank partners is coming under increasing scrutiny that focuses on the potential for consumers to be led to believe that the nonbank is...
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A Conversation with Nicholas Smyth, Senior Deputy Attorney General and Assistant Director for Consumer Financial Protection in the Pennsylvania Office of Attorney General from 2021-09-16T12:29:26
We discuss recent and ongoing enforcement activity of the PA AG involving consumer financial services. Our conversation focuses on activity directed at: Auto title lenders for alleged violations...
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Congress Overrides the OCC’s True Lender Rule: What Are the Risks for Banks and Their Loan Program Nonbank Partners? from 2021-09-09T14:00
The OCC’s true lender rule was intended to create a bright line test for when a national bank or federal savings association should be considered the “true lender” in the context of third party ...
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Preparing for the CFPB Debt Collection Rule’s November 30, 2021 Effective Date from 2021-09-02T13:01:58
We discuss a range of practical issues related to the rule’s rapidly-approaching effective date, including: the prospects for further CFPB rulemaking or guidance; the aspects of the rule that sh...
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NACHA’s Meaningful Modernization Rule: A Close Look at the Changes for Consumer Debit Authorizations and more from 2021-08-26T13:26:25
This episode covers upcoming changes to the NACHA Operating Rules as part of the Meaningful Modernization rule which takes effect September 17, 2021. We discuss the payments environment leading ...
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A look at the enforcement challenges facing lenders arising out of the federal paycheck protection lending program (PPP), with special guest Louis Bruno, a partner in EisnerAmper’s advisory practice from 2021-08-19T13:31:18
We discuss: the compliance challenges that could give rise to enforcement actions against PPP lenders and current and potential future investigatory activity; fair lending guidance for PPP lende...
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The CFPB’s Summer 2021 Supervisory Highlights: A Close Look At Credit Reporting, Debt Collection, Fair Lending and Mortgage Loan Origination and Servicing Issues from 2021-08-12T13:14:59
We look at the practices found to be unlawful by CFPB examiners in these markets, discuss what the findings signal for future scrutiny of these markets by the “new CFPB”, and share practical tak...
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The CFPB’s Summer 2021 Supervisory Highlights: A Close Look at Student Loan Issues from 2021-08-05T13:20:26
We look at the practices found to be unlawful by CFPB examiners. In addition to “as low as” rate advertising by providers of private student loans that did not disclose rates were dependent on b...
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The CFPB’s Summer 2021 Supervisory Highlights: A Close Look at Deposit, Auto Servicing, and Payday Lending Issues from 2021-07-28T20:59:21
We discuss the practices found to be unlawful by CFPB examiners in the areas of deposits, auto servicing and payday lending, identify practical takeaways for avoiding criticism by the “new CFPB,...
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A Close Look at the U.S. Supreme Court’s Decision in TransUnion v. Ramirez from 2021-07-21T20:53:35
After reviewing the facts and holding in Ramirez, we discuss how the decision clarifies the concrete harm requirement established by SCOTUS’s Spokeo decision, Ramirez’s Listen
Part II of Our Discussion with Special Guest Thomas Vartanian, Author of the Recently-Published Book, “200 Years of American Financial Panics: Crashes, Recessions, Depressions, And the Technology That Will Change It All” from 2021-07-15T12:52:23
Tom Vartanian is a former federal banking regulator and law professor. In Part II of this two-part podcast, we discuss technology’s impact on the banking system, how a new cyberspace infrastruct...
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A Discussion With Special Guest Thomas Vartanian, Author of the Recently-Published Book, “200 Years of American Financial Panics: Crashes, Recessions, Depressions, And the Technology That Will Change It All” from 2021-07-08T12:43:39
Tom Vartanian is a former federal banking regulator and law professor. In Part I of this two-part podcast, we discuss the government policies that have contributed to or caused the financial cri...
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A Deep Dive Into the Federal Agencies' Request for Information on Artificial Intelligence, With Special Guest Nicholas Schmidt, Chief Executive Officer, SolasAI from 2021-07-01T13:02:24
After discussing the current state of the regulators’ knowledge about artificial intelligence and machine learning (ML) in underwriting models, we examine the regulators’ key areas of focus for ...
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How the FTC is responding to SCOTUS’s April 2021 AMG Capital Management decision: a conversation with special guest Bikram Bandy, FTC Chief Litigation Counsel, Bureau of Consumer Protection from 2021-06-24T12:27:26
In AMG, SCOTUS ruled that Sec. 13(b) of the FTC Act does not give the FTC authority to seek equitable monetary relief (e.g. restitution or disgorgement). After reviewing AMG’s history and SCOTUS...
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Websites as "Places of Public Accommodation" Under Title III of the Americans with Disabilities Act (ADA): A Deep Dive into the Legal and Regulatory Issues Facing Businesses from 2021-06-17T12:54:04
After reviewing a brief history of the ADA and the U.S. Department of Justice’s (DOJ) interpretation that Title III’s public accommodation accessibility requirements apply to websites, we look a...
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Should the Office of the Comptroller of the Currency (OCC) be Abolished? A Conversation with Special Guest Carter Dougherty, Financial Reform Advocate and Author of “The Money Trust” Newsletter from 2021-06-10T13:25:55
Mr. Dougherty recently authored an article calling for the OCC’s abolishment and merger into the Federal Deposit Insurance Corp. After reviewing the history of the creation of the OCC and Feder...
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A Close Look at the Use of Blockchain Technology in Consumer Finance, with Special Guest Debbie Hoffman, Associate General Counsel, Western Union from 2021-06-03T13:14:07
After reviewing how blockchain technology operates and the pandemic’s impact on its use, we discuss the technology’s main benefits and regulatory risks; its use in digital identity, anti-money l...
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A Deep Dive into the Fair Credit Reporting Act Issues Arising From Use of the Consumer Data Industry Association (CDIA) Compliance Condition Codes for Disputed Account Information Furnished to Consumer Reporting Agencies from 2021-05-27T12:34:30
We take a close look at the CDIA code options available for direct and indirect consumer disputes, their relationship to FCRA compliance, CFPB scrutiny of code use in FCRA compliance exams of fu...
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Protection of Economic Impact Payments (EIPs) from Garnishment by Creditors: What are the Issues now Facing Financial Institutions? from 2021-05-20T13:18:08
With the U.S. Treasury Department now completing the process of issuing the third round of EIPs, financial institutions must navigate a maze of federal and state garnishment protections. After l...
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A Deep Dive into the Debate Over Federal Student Loan Forgiveness from 2021-05-13T12:57:34
After reviewing the existing types of federal student loans and forgiveness programs, we discuss the current political debate over forgiveness, including the Education Dept.’s upcoming analysis ...
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The Eleventh Circuit’s Troubling and Unprecedented FDCPA Decision in Hunstein: Profound Implications for the Collections Industry from 2021-05-06T12:58:33
The ruling that a debt collector’s transmittal of debt information to its letter vendor could violate the FDCPA’s limits on third party communications has produced shock waves. After reviewing t...
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Recent Developments at the California Department of Financial Protection and Consumer Innovation: A Conversation with DFPI Commissioner Manny Alvarez from 2021-04-29T13:04:59
After discussing the pandemic’s impact on the DFPI’s activities, Commissioner Alvarez discusses the DFPI’s focus on diversity and inclusion, its creation of a new registration system for financi...
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A Discussion of the Initiatives and Positions of the Conference of State Bank Supervisors, with Special Guest Margaret Liu, CSBS Executive Vice President from 2021-04-22T13:47:24
After looking at CSBS’s role in the system of state financial supervision, we discuss its initiatives to coordinate state licensing and supervision of multi-state non-bank companies, such as by ...
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Key Current Issues of Interest to Banks, With Special Guest Richard Hunt, President and CEO of Consumer Bankers Association from 2021-04-15T12:29:50
Mr. Hunt shares his perspective on a range of issues, including how Rohit Chopra, CFPB Director-nominee, is likely to approach his new role, the CFPB’s likely approach to innovation and overdraf...
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The U.S. Supreme Court’s decision in Facebook v. Duguid: A Discussion of its Implications from 2021-04-05T16:03:01
After looking at how the decision narrows the technology covered by the Telephone Consumer Protection Act’s automatic telephone dialing system definition, we discuss its implications for TCPA li...
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A Deep Dive Into Mass Consumer Arbitration from 2021-04-01T13:43:59
After reviewing the legal developments leading to this surging litigation phenomenon and describing its use by plaintiffs’ attorneys, we discuss the courts’ position on mass arbitration, short-a...
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A Discussion of the Legal Challenge to the CFPB’s Taskforce on Federal Consumer Financial Law with Special Guest Ira Rheingold, Executive Director of the National Association of Consumer Advocates (NACA) from 2021-03-25T12:56:28
NACA is one of the plaintiffs in the Massachusetts lawsuit challenging the CFPB’s creation of its Taskforce on Federal Consumer Financial Law. Mr. Rheingold discusses the legal basis for the law...
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A Look at the New Wave of Telephone Consumer Protection Act Cases Alleging Do-Not-Call Claims from 2021-03-18T13:10:38
After examining why TCPA cases alleging autodialer claims have fallen into disfavor with plaintiffs’ attorneys, we discuss the increasing volume of TCPA cases involving do-not-call (DNC) claims....
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A Close Look at the CFPB’s Statement on Providing Financial Products and Services to Limited English Proficiency Consumers from 2021-03-11T13:42:06
We are joined by Ena Koukourinis, Senior Counsel in the Bureau’s Office of Fair Lending and Equal Opportunity, and Frank Vespa-Papaleo, the Office’s Deputy Director. We discuss the statement’s b...
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Acting CFPB Director Uejio’s Blog Post on Consumer Complaint Responses and Potential Racial Disparities: Is Your Company’s Handling of Complaints Ready for Scrutiny by the “New CFPB”? from 2021-03-04T13:05:14
We first review recent studies finding racial disparities in connection with consumer complaints and look at the methodology used for those studies and its limitations. We then ...
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The Times at the CFPB are A-Changing: Perspectives on the CFPB Under Acting Director David Uejio and Director Rohit Chopra: Part II from 2021-02-25T13:24:33
In Part II of our two-part podcast, we discuss how we expect Rohit Chopra, if confirmed by the Senate, to approach his new role as CFPB Director. We look at the possible implications of positio...
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The Times at the CFPB are A-Changing: Perspectives on the CFPB Under Acting Director David Uejio and Director Rohit Chopra: Part I from 2021-02-18T14:17:14
In Part I of our two-part podcast, we are joined by special guest former CFPB Director Richard Cordray. After discussing the process of transitioning to new leadership, Mr. Cord...
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SB 1792 and the Illinois Predatory Loan Prevention Act: A Look at Key Issues from 2021-02-11T13:59:18
Unless vetoed by Governor Pritzker, SB 1792 will soon become law and overhaul the state’s consumer finance laws. After discussing the lenders and loans covered by the 36% APR cap, the types of ...
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Consumer Financial Services Litigation: Looking Back at 2020 and Ahead in 2021 from 2021-02-04T13:41:49
After discussing the pandemic’s impact on 2020 litigation, we share our expectations for 2021, including pandemic-related and other types of claims most likely to be alleged in private litigatio...
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The Restatement of the Law, Consumer Contracts: What is it and why you should be concerned about it from 2021-01-31T22:10:42.023393
In this podcast, Alan Kaplinsky, who leads our Consumer Financial Services Group, interviews Professor Adam Levitin of Georgetown University Law School about why businesses and consumer advocates a...
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A discussion of the CFPB’s annual report on servicemember complaints from 2021-01-31T22:10:42.023393
Servicemembers are the subject of heightened legal protections.In this podcast, we look at the products that received the most complaints from servicemembers, the specific issues complained about, ...
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A discussion of the CFPB’s proposed changes to its payday loan rule from 2021-01-31T22:10:42.023393
In this podcast, we look at the CFPB’s rationale for its proposal to rescind the ability to repay provisions of its payday loan rule, what the payment provisions still set to take effect on Aug. 19...
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A Discussion of the CFPB’s TRID Rule Guidance from 2021-01-31T22:10:42.023393
Last month, after more than three years of urging by the industry to provide written guidance, the CFPB issued four FAQs on its TILA/RESPA Integrated Disclosure (TRID) Rule. In this podcast, we tak...
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A Primer on the FCC’s Disconnected Phone Number Database from 2021-01-31T22:10:42.023393
The FCC’s creation of a database of disconnected phone numbers is expected to significantly reduce the potential TCPA exposure companies face for unknowingly calling a customer at a reassigned phon...
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Nevada’s New Democratic Attorney General: What To Expect from 2021-01-31T22:10:42.023393
The “Blue Wave” hit Nevada last November as well, resulting in the election of Democrats to serve as Governor and Attorney General. More aggressive enforcement and increased legislative activity ar...
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Key Issues for Credit Card Co-Branding Relationships from 2021-01-31T22:10:42.023393
In this week’s podcast, we discuss key issues that need to be considered by banks and their merchant partners when entering into credit card co-branding relationships, including defining the scope ...
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Expectations for Colorado’s new Democratic Attorney General, Phil Weiser from 2021-01-31T22:10:42.023393
Having declared the Consumer Financial Protection Bureau eviscerated by President Trump, Colorado’s newly elected Democratic Attorney General, Phil Weiser, is expected to take an active approach to...
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The Eighth Amendment’s Excessive Fines Prohibition: Implications for Consumer Financial Services Providers from 2021-01-31T22:10:42.023393
In November, the U.S. Supreme Court heard arguments in a case over whether the Eighth Amendment’s excessive-fines prohibition applies to states under the 14th Amendment. In this week’s podcast, we ...
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A conversation with Paul Watkins, Director of the CFPB’s Office of Innovation from 2021-01-31T22:10:42.023393
In this week’s podcast, we speak with Paul Watkins, Director of the CFPB’s Office of Innovation, about the Bureau’s recent proposals to revise its policies on trial disclosure programs and no-actio...
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A conversation with Pennsylvania Secretary of Banking and Securities Robin Wiessmann from 2021-01-31T22:10:42.023393
In this week’s episode, Pennsylvania Secretary of Banking and Securities Robin Wiessmann discusses lessons learned from the 2009 financial crisis and shares her concerns arising from today’s market...
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Update on OCC Fintech Charter Initiative from 2021-01-31T22:10:42.023393
The OCC’s decision to issue special purpose national bank (Fintech) charters has sparked a wave of litigation. In this episode, we review the potential benefits and drawbacks of Fintech charters, p...
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Anti-Money Laundering and Bank Secrecy Act Challenges from 2021-01-31T22:10:42.023393
AML/BSA compliance continues to be the focus of rigorous enforcement on both the federal and state levels. In this episode, we look at the conduct for which financial institutions have been faulted...
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HUD's Proposed Changes to its Fair Housing Act Disparate Impact Rule from 2021-01-31T22:10:42.023393
Our podcast looks at the proposed changes to HUD's rule for establishing liability under the FHA for discriminatory practices based on disparate impact even without discriminatory intent. We discus...
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A Look at the Recommendations of the CFPB’s Taskforce on Federal Consumer Financial Law with Special Guest Professor Todd Zywicki, Taskforce Chairman: Part II from 2021-01-28T13:33:48
In Part II of our two-part podcast, we look at the recommendations in the Taskforce’s report concerning the use of principles-based (rather than prescriptive) regulations and CFPB licensing of n...
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A Look at the Recommendations of the CFPB’s Taskforce on Federal Consumer Financial Law with Special Guest Professor Todd Zywicki, Taskforce Chairman: Part I from 2021-01-21T18:56:47
In Part I of our two-part podcast, after discussing the Taskforce’s goals and background, we look at the recommendations in the Taskforce’s report concerning artificial intelligence, limited Eng...
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A Close Look at Earned Wage Access (EWA) Programs with Special Guest, Jesse Silverman, General Counsel of Steady from 2021-01-14T13:01:45
After reviewing what EWA is and the different models used for EWA programs, we discuss federal and state regulatory issues raised by such programs, the CFPB’s advisory opinion on such programs a...
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A Close Look at the OCC’s Fair Access Proposal with John Court, Executive Vice-President and General Counsel of the Bank Policy Institute from 2021-01-07T13:24:08
After reviewing the proposal’s statutory basis, coverage, and operative requirements, Mr. Court explains the basis for BPI’s position that the proposal is inconsistent with how banking is regula...
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A Conversation with American Banker Reporter Kate Berry from 2020-12-16T21:03:32
Kate joined American Banker in 2006 and has covered the CFPB since 2016. Kate shares her perspective on the controversy over Leandra English’s appointment as Acting Director, Director Kraninger’...
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An Introduction to Real-Time Payments from 2020-12-10T13:20:44
After discussing what real-time payments are and how they differ from fast payments, we look at the benefits of RTPs and potential for fraud, issues arising from the Fed’s plans to launch a RTP ...
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The CFPB’s Leadership in a Biden Administration: What Do We Expect? from 2020-12-03T14:08:19
After looking at the differing approaches of the former and current CFPB Directors to using the CFPB’s authorities, we look ahead to how the CFPB’s leadership is expected to change in a Biden Ad...
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California’s New Consumer Financial Protection Law (CFPL): A Look at the California Department of Financial Protection and Innovation’s (DFPI’s) Implementation Plans from 2020-11-19T14:36:48
We are joined by Bret Ladine, the DFPI’s General Counsel. We discuss the DFPI’s plans for adding new staff, promoting innovation through the new Financial Technology Innovation Office, providing...
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The CFPB’s Plan to Reorganize its Supervision, Enforcement, and Fair Lending (SEFL) Division: What it Means for Industry from 2020-11-12T13:50:01
We take a close look at the role of the new Office of SEFL Policy & Strategy to be created by the plan and how the plan would change the CFPB’s current enforcement decision-making process. We al...
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A Look at the CFPB’s Section 1033 Rulemaking to Provide Consumer Access to Financial Information from 2020-11-05T12:57
Our discussion looks at the CFPB’s rulemaking activities before issuing its Advance Notice of Proposed Rulemaking (ANPR), the ANPR’s focus points, and differences from the California Consumer Pr...
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What a Blue Wave in the November 2020 Elections Could Mean for the Consumer Financial Services Industry from 2020-10-29T12:43:12
Special guest Isaac Boltansky, Director of Policy Research at Compass Point Research & Trading, joins for a discussion of the potential implications for the consumer financial services industry ...
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A Close Look at the OCC’s “True Lender” Proposal from 2020-10-26T12:31:03
After reviewing the legal foundation for federal preemption of state law limits on interest, we discuss the OCC’s proposed approach for determining when a bank is the “true lender” in programs w...
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A Discussion of Recent Developments Involving Credit Reporting With Special Guest Eric Ellman, Senior Vice President for Public Policy and Legal Affairs, Consumer Data Industry Association from 2020-10-15T12:48:32
Topics discussed include: CFPB plans to conduct a new study on credit reporting accuracy; FTC efforts to address unlawful practices by credit repair companies and abuse of identity theft reports...
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CFPB Exam Findings in Summer 2020 Supervisory Highlights Related to Credit Reporting (Fair Credit Reporting Act) and Deposit Accounts (Regulations E and DD) from 2020-10-08T13:02:58
We review the following and discuss compliance implications: FCRA violations based on obtaining credit reports without a permissible purpose, incorrectly reporting the date of first delinquency,...
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A Close Look at the CFPB’s Exam Findings Related to Short-Term Small-Dollar Lending in Summer 2020 Supervisory Highlights from 2020-10-01T11:42:47
We review the CFPB’s findings that lenders engaged in deceptive practices and violated Reg. Z advertising rules based on the following conduct and discuss compliance implications: false represen...
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A Close Look at the CFPB’s Mortgage-Related Exam Findings in Summer 2020 Supervisory Highlights from 2020-09-24T12:50:30
Mortgage origination and servicing continue to be a supervisory focus. We review the CFPB’s findings in the following areas and discuss compliance i...
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Federal Banking Regulators and FinCEN Issue New Statements on Bank Secrecy Act/Anti-Money Laundering Enforcement: A Look at Highlights from 2020-09-17T12:35
Topics include how banking regulators and FinCEN will approach the decision whether to bring an enforcement action (including what BSA/AML program failures typically would (or would not) result ...
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The CFPB’s Past and Current Leadership: A Report Card from 2020-09-10T13:00:28
We are joined by Prentiss Cox, a University of Minnesota Law School Professor formerly of the MN AG’s office and the CFPB’s Consumer Advisory Board. After discussing whether the CFPB’s structure...
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A Look at COVID-19’s Impact on Credit Reporting, Credit Scoring, and Underwriting from 2020-09-03T12:49:27
We are joined by Kelly Cochran, Deputy Director of FinRegLab, a non-profit focused on the use of data and technology in financial services. We examine credit reporting, credit scoring, and under...
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A Special Edition to Mark Episode 100 of Consumer Finance Monitor Podcast: How the Consumer Financial Protection Bureau Has Changed under the Trump Administration and Could Change under a Biden Administration from 2020-08-27T16:14:07
After reviewing how the CFPB has changed since 2017 (and dispel some misconceptions), we share our expectations if Joe Biden becomes President. Topics discussed include the CFPB’s approach to en...
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Consumer Arbitration in the Crosshairs (Again): Individual Public Injunctive Relief Claims, Other Threats, and Possible Responses from 2020-08-20T12:48:50
After a recap of industry’s successful history in defeating challenges to the use of arbitration agreements to limit class action exposure, we discuss the threat of public injunctive relief clai...
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The CFPB’s Payday/Auto Title/High-Rate Installment Loan Rule: A Look at the Uncertain Road Ahead from 2020-08-13T12:32:57
After we recap the 2017 final rule and its implications for industry, we discuss the CFPB’s actions to eliminate its ability-to-repay provisions but keep its payment provisions, possible use of ...
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A First Look at the Plans of the Office of the Comptroller of the Currency for a National Payments Charter from 2020-08-06T12:09:30
Acting Comptroller Brooks recently revealed the OCC’s plans to create a national payments charter for payment processing companies. After discussing the new charter’s intended purpose and benefi...
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New York City’s Department of Consumer Affairs Adopts New Language Proficiency Requirements for Debt Collections: What You Need to Know from 2020-07-30T12:33:44
Recent amendments to NYC’s debt collection rules impose new requirements relating to consumers’ language proficiency. Following an overview, we take a close look at the specific requirements an...
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The OCC and FDIC “Madden fix” Final Rules and Related Recent Developments from 2020-07-23T12:53:50
After reviewing the legal foundation for federal preemption of state law limits on interest, we discuss the final OCC/FDIC “Madden fix” rules, the “true lender” issue, potential Congressional or...
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Update on Recent Non-COVID-19-Related Consumer Financial Services Legal Developments from 2020-07-16T12:03:26
The topics we discuss are: implications of the SCOTUS Seila Law decision on CFPB rules, past consent orders, ongoing enforcement, and the Texas lawsuit challenging the CFPB payday loan rule; DOJ...
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A Discussion of the U.S. Supreme Court’s Seila Law Decision and its Implications from 2020-07-09T12:01:20
We are joined by Deepak Gupta, a renowned consumer advocate who has argued multiple cases before the Supreme Court. After reviewing the history of the controversy over the CFPB’s constitutionali...
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A Primer on the Foreign Corrupt Practices Act for Consumer Financial Services Providers from 2020-07-02T12:16:58
The recent announcement by a consumer lender in an SEC filing that it had earmarked $21.7 million to resolve an SEC probe into its FCPA compliance could signal new interest by regulators in enfo...
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Revoking Consent Under the Telephone Consumer Protection Act: A Discussion of Recent Case Law Developments from 2020-06-25T12:14:32
The issue of whether a consumer can unilaterally revoke consent to receive automated remains a significant concern for industry. We look at how the FCC and courts have approached the issue and d...
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Consumer Protection: What’s Happening at the FTC (Part II), With Special Guests From the FTC from 2020-06-18T13:28:49
In Part II of our podcast, we discuss the following with Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate Director of the FTC’s Division of Financi...
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Consumer Protection: What’s Happening at the FTC (Part I), With Special Guests From the FTC from 2020-06-11T12:51:55
In Part I of our two-part podcast, we discuss the following topics with Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate Director of the FTC’s Divi...
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An Interview with Colorado Attorney General Phil Weiser from 2020-06-04T13:23:50
We explore a wide range of topics with AG Weiser including: who are his key staff members and their backgrounds; his office’s actions in response to COVID-19; recent changes to the CO Consumer P...
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The CFPB’s Loan Originator Rule’s Compensation Provisions: Assessing Compliance Risk from 2020-05-28T12:33:45
We look at why compliance with the compensation provisions remains a high risk area for the mortgage industry. Discussion topics include how the Bureau identifies violations, litigation and enfo...
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CARES Act Economic Impact Payments for Individuals and Payment Protection Program Loans for Small Businesses: Are They Subject to Garnishment or Setoff? from 2020-05-21T12:42:03
We look at the impact of federal and state law including relevant CARES Act provisions, state garnishment directives, and federal preemption, identify issues banks should consider in handling ga...
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Community Reinvestment Act Reform: How Did We Get Here and Where Are We Going? from 2020-05-18T15:39:38
We are joined by Kenneth Thomas, who is widely-viewed as the nation’s leading CRA expert and has advised federal regulators on CRA reform. After reviewing CRA’s origins and previous reforms, Ken...
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Strategic and Other Considerations for Credit Card Offerings by Medium and Small Financial Institutions from 2020-05-07T12:27:24
Increasing regulatory, competitive and economic challenges are causing a new focus on credit cards by medium and smaller-sized financial institutions. We are joined by Robert Curry, Managing Par...
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Staying Ahead of UDAP and Fair Lending Risk to Consumer Financial Services Providers Arising From the COVID-19 Pandemic from 2020-04-30T13:41:04
After looking at how the 2008 financial crisis and its aftermath might inform regulators’ response to the pandemic, we discuss how collections, loss mitigation/hardship programs, and origination...
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A Close Look at the CFPB’s Supplemental Proposal Requiring Disclosures by Debt Collectors for Time-Barred Debts from 2020-04-23T12:08:51
Our discussion examines a range of issues, including how the wording of the model forms could create consumer confusion, challenges in determining whether a debt is time-barred, and questions ar...
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The COVID-19 Crisis: A Look at the Consumer Financial Regulatory and Litigation Fallout from 2020-04-16T12:28:05
We are joined by Richard Cordray, former CFPB Director, and John Roddy, prominent plaintiffs’ class action lawyer, for a discussion of regulatory and litigation risks the crisis is expected to c...
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Dodd-Frank Act Section 1071 Rulemaking: A Close Look at the Settlement in the Lawsuit Against the CFPB from 2020-04-09T12:51:59
We are joined by Nitin Shah of Democracy Forward, attorney for the plaintiffs in the lawsuit brought to compel the CFPB to issue rules implementing Sec. 1071 which requires financial institution...
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A Look at Two Recent OCC Bank Secrecy Act/Anti-Money Laundering Consent Orders: Lessons Learned from 2020-04-02T14:29:08
In our examination of two recent OCC BSA/AML consent orders, one with a bank and another with an individual in-house professional, we review the OCC’s allegations underlying the orders and how t...
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A Conversation with Former CFPB Director Richard Cordray from 2020-03-26T12:58:58
We are joined by Richard Cordray whose book about his CFPB tenure, Watchdog, was recently-released. Among other topics, Mr. Cordray shares what he considers to be his key successes and ...
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A Look at how the Latest Modifications to the Proposed CA Consumer Privacy Act Regulations Impact the Debt Industry from 2020-03-19T12:54:56
We discuss the modifications with Lauren Valenzuela, Corporate Counsel for Performant Financial, a provider of technology-based solutions to assist debt recovery. Our topics relevant to the debt...
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The CFPB's Winter 2020 Supervisory Highlights: Takeaways for Payday Lenders and Mortgage Servicers from 2020-03-12T12:14:51
We look at the CFPB's key findings related to payday lending and mortgage servicing, discuss their implications for the CFPB's approach to supervision and enforcement, and share practical takeaw...
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A Discussion of the Veterans and Consumers Fair Credit Act with Bill Himpler, CEO of the American Financial Services Association from 2020-03-05T14:09
The Act, which has been introduced in the House (H.R. 5050) and Senate (S. 2833), would impose a 36% national usury limit on most forms of consumer credit. Bill Himpler responds to claims that t...
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Seila Law: Why George Washington University Law School Professor Alan Morrison Argues SCOTUS Should not Rule on the CFPB's Constitutionality from 2020-02-27T15:07:41
With oral argument just days away, we interview Prof. Morrison who filed an amicus brief urging SCOTUS not to decide whether Dodd-Frank’s limits on the President’s authority to remove the CFPB D...
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Sales of Charged-off Debts: Key Issues and Practical Pointers for Sellers and Buyers to Consider from 2020-02-20T14:17:28
We look at key issues and provide practical pointers that sellers and buyers should consider, including (1) seller due diligence to prepare for a sale, such as identifying and creating relevant ...
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The Veterans and Consumers Fair Credit Act: A Discussion with the Bill's Drafter from 2020-02-13T12:57:53
The Act, which has been introduced in the House and Senate, would impose a 36% national usury limit on most forms of consumer credit. We are joined by the bill's drafter, Professor Chris Peterso...
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The CFPB's New Policy Statement on the Dodd-Frank Abusiveness Standard: Has Anything Changed? from 2020-02-06T13:51:47
After reviewing how the CFPB has used its abusiveness authority, we look at why such authority has created industry concern, consider implications of the CFPB's decision to forego rulemaking, di...
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The FDIC’s and OCC’s Proposed CRA Reform: What the Agencies Consider Now in CRA Evaluations and How That Would Change from 2020-01-30T14:32:37
We are joined by Diego Zuluaga, a Cato Institute policy analyst, for a discussion of the proposed changes. After reviewing the current regulatory framework, we examine the proposal's new qualify...
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Redlining Claims: What is the Current Risk? from 2020-01-23T14:05:08
In this podcast, after reviewing what redlining is, we look at which regulators have made it a focus, factors they consider when looking for redlining, whether those factors apply to nonbanks and h...
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Update on the CFPB's Proposed Debt Collection Rule from 2020-01-16T14:23:33
We look at industry and consumer comments and perspectives on key issues, including the proposal's potential implications for creditors collecting their own debts through UDAAP/UDAP and state colle...
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The OCC's and FDIC's Proposals to Undo the Madden Decision: What they would and wouldn't fix from 2020-01-09T14:07:59
In this podcast, we review Madden, its implications and the OCC's reaction, and discuss the proposals to undo Madden, including the agencies' troublesome comments, remaining problems and what the a...
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Using Alternative Data in Credit Underwriting from 2020-01-02T14:47:52
Our podcast looks at types of alternative data (AD) and industry sources, key points of the recent interagency statement on using AD for credit decisions and CFPB actions to encourage such use, FCR...
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A Discussion of Alternative Payments from 2019-12-19T14:43:45
In this podcast, we examine the features of different forms of alternative payments, factors driving consumer demand, contractual and other issues in business transactions involving such payments, ...
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Do we need a National Financial Technology Commission? from 2019-12-05T14:19:04
We are joined by Tom Vartanian, who leads the Financial Regulation & Technology Institute of George Mason University Antonin Scalia Law School, to discuss his proposal to establish a National Finan...
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Targeted Marketing and Fair Lending Risk from 2019-11-21T13:36:56
In this podcast, we examine the fair lending risk to financial services providers that use targeted marketing. After reviewing what targeted marketing is, the forms it can take, and current litigat...
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A Look at the California Consumer Privacy Act Proposed Regulations from 2019-11-14T13:50:57
In this podcast, we discuss the key aspects of the recently-proposed regulations to implement the CCPA, identify issues clarified by the proposal or left unresolved, compliance challenges raised by...
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The Battle Over the CFPB's Constitutionality Moves to the U.S. Supreme Court: What It Means for You from 2019-11-07T14:03:56
SCOTUS has agreed to hear the Seila Law case to decide if the CFPB's structure violates the U.S. Constitution because the President cannot remove the Director at will. In this podcast, Professor Ke...
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Using Machine Learning and Artificial Intelligence in Debt Collection from 2019-10-31T14:31:29
In this podcast, we are joined by Scott Ferris, CEO of Attunely, a provider of machine learning (ML) and artificial intelligence (AI) technology to the debt collection industry. We look at how chan...
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Website accessibility: What Are the Risks and How to Address Them? from 2019-10-24T13:26:49
We discuss the obligation of businesses to make websites accessible to persons with disabilities under federal and state law; enforcement, private litigation and other risks of non-compliance; stra...
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The CFPB's Final Innovation Policies: What You Need to Know from 2019-10-17T12:48:09
In this podcast, Paul Watkins, Director of the CFPB's Office of Innovation, joins us to discuss the CFPB's final trial disclosures, no-action letter, and FinTech sandbox policies. Topics covered in...
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An Update on Consumer Arbitration in Financial Services Contracts from 2019-10-10T12:30:42
In this podcast, we look at the current state of consumer arbitration law, discuss recent CA state and federal court decisions involving the enforceability of arbitration agreements with respect to...
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A discussion of the California Consumer Privacy Act for Financial Institutions from 2019-10-03T12:48:58
The CCPA takes effect on Jan. 1, 2020. In this podcast, we take a close look at the CCPA's coverage and unique features, the scope of its "GLBA exemption," third party issues, private actions and e...
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The Community Reinvestment Act: Its Usefulness and Approaches to Reform from 2019-09-26T12:49:26
In this podcast, Diego Zuluaga, a Cato Institute policy analyst, joins us for a discussion of the CRA's history, its effectiveness in increasing access to credit and addressing discrimination, the ...
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Implementing the Proposed CFPB Debt Collection Rule: Operational and Legal Issues from 2019-09-19T12:55:30
In this podcast, we team with Bridgeforce, a leading financial services consultancy, to discuss how companies can prepare their operations should the CFPB's proposed debt collection rule become fin...
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Credit Invisibles: Who Are They and How Can Lenders Better Serve Them By Using Artificial Intelligence? from 2019-09-12T13:35:53
In this podcast, we look at the opportunities for lenders to provide access to credit to "credit invisible" consumers through the use of AI underwriting tools. We discuss these consumers' character...
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Limited Content Messages under the CFPB's Proposed Debt Collection Rule from 2019-09-05T14:37:39
Our podcast looks at challenges arising from the CFPB's proposal to allow debt collectors to leave a limited content phone message that would not violate the FDCPA's third party disclosure prohibit...
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A Look at the FDIC's First Consumer Compliance Supervisory Highlights from 2019-08-29T13:02:30
In this podcast, we discuss the FDIC's observations about its "most salient" consumer compliance exam findings during 2018, including issues relating to Overdraft Programs, Real Estate Settlement P...
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Electronic Disclosures and Communications under CFPB's Proposed Debt Collection Rule from 2019-08-22T13:40:24
In this podcast, we discuss in detail certain provisions of the CFPB's Proposed Debt Collection Rule that create the possibility of a collector providing disclosures to consumers by means of electr...
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A Discussion of the CFPB's Authority to Prohibit Abusive Acts or Practices from 2019-08-15T13:15:35
In this podcast, Alan Kaplinsky, who leads our Consumer Financial Services Group, interviews Todd Zywicki, a Professor of Law at George Mason University and leading consumer finance expert, on the ...
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A Look at how the CFPB's Proposed Debt Collection Rules Could Impact the Student Loan Industry from 2019-08-08T13:10:38
In this podcast, we look at the unique challenges that the CFPB's proposal may create for student loans. Our discussion focuses on how the proposal's call attempt limits, time/place limits for call...
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What the CFPB's Proposed Debt Collection Rules Mean for the Mortgage Industry from 2019-08-01T13:37:33
In this podcast, we focus on provisions of the proposed rules that are of particular interest to the mortgage industry. In addition to the special consumer definition, we look at the alternative co...
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A Close Look at the Call Frequency Limits in the CFPB's Proposed Debt Collection Rules from 2019-07-25T13:20:17
In this podcast, we review what's in the proposed limits and examine the challenges they present for collectors, including the retroactive lookback for call attempts and successful contacts, the tr...
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A Discussion of Credit Reporting Issues arising from the CFPB's Proposed Debt Collection Rules from 2019-07-18T13:11:55
In this podcast, we discuss the CFPB's proposed requirement for a collector to communicate with a debtor before furnishing information about the debt to a consumer reporting agency and proposed pro...
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A Close Look at the Changes to the FDCPA Validation Notice in the CFPB's Proposed Debt Collection Rules from 2019-07-11T13:39:17
In this podcast, we look at the changes to the FDCPA validation notice that the CFPB's proposed debt collection rules would make and discuss compliance challenges and other issues raised by the cha...
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A Close Look at Utah’s New Regulatory Sandbox Program from 2019-07-02T13:31:06
Utah is now taking applications for its new regulatory sandbox program. In this podcast, we interview Rep. Marc Roberts, the sponsor of the bill that created the program, and Bryan Cowley, the Uta...
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How the CFPB’s Proposed Debt Collection Rules Would Impact Creditors and First Party Collections from 2019-06-27T13:02:28
While directed at third party debt collectors, the CFPB's proposed rules, if adopted, would significantly impact creditors and their first party collection partners. In this podcast, we look at the...
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A Close Look at the CFPB Payday Loan Rule's Payment Provisions from 2019-06-20T16:00:33
In this week's podcast, we take a close look at the CFPB payday loan rule's payment provisions that could become effective as early as this August if the current court stay is lifted. After reviewi...
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Using Artificial Intelligence for Consumer Finance: A Look at the Opportunities and Challenges from 2019-06-13T12:44:50
In this podcast, we discuss the opportunities and challenges created by the use of AI models in consumer financial services, including the benefits of explainable AI and its implications for the co...
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OCC Fintech Charter: Assessing the Opposition and Looking Ahead to Possible Next Steps for the OCC from 2019-06-06T12:00
Opposition from state regulators to the OCC’s decision to issue special purpose national bank (or fintech) charters continues to be vigorous. In this podcast, we review the charter’s potential bene...
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A close look at the changes to the CFPB’s civil investigative demand policies from 2019-05-30T13:15:20
In this podcast, we discuss the recently-announced changes to the CFPB’s CID policies, how those changes reflect recent court decisions, and the practical implications of the changes (including the...
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The Restatement of the Law, Consumer Contracts: A response to the criticism from 2019-05-20T14:09:56
In this podcast, Alan Kaplinsky, who leads our Consumer Financial Services Group, interviews Steven Weise, a member of ALI’s Council, about the criticism of the Restatement from businesses and cons...
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A Consumer Arbitration Update from 2019-05-09T15:31:22
In this podcast, we discuss significant developments since Congress’ Oct. 2017 override of the CFPB’s arbitration rule, including proposed federal legislation, litigation developments, and how arbi...
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An Update on Cannabis in the Financial Services Industry from 2019-05-02T15:54:01
In this podcast, we review recent developments dealing with the provision of financial services to the cannabis industry, including state approaches to banking services, the status of hemp legaliza...
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A Look at the FTC’s Proposed GLBA Rules from 2019-04-25T15:25:06
We explore the affect of the FTC’s proposed amendments to the GLBA Privacy Rule, which affects only motor vehicle dealers, and the broader GLBA Safeguards Rule, which applies to all non-bank financ...
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A Close Look at the CFPB’s Mortgage Loan Servicing Exam Findings in Winter 2018 Supervisory Highlights from 2019-04-18T15:41:02
Mortgage servicing continues to be a CFPB supervisory focus. In this podcast, we take a close look at the CFPB’s findings involving late fees, PMI cancellation requests, handling of loss mitigation...
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A Close Look at the CFPB’s Auto Loan Servicing Exam Findings in Winter 2018 Supervisory Highlights from 2019-04-11T16:34:27
In this podcast, we take a close look at the CFPB’s findings on ancillary product refunds by auto loan servicers in the event of total loss or repossession, consider such findings’ implications for...
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A Lobbyist’s Perspective on the Consumers First Act and Other Legislative Initiatives Impacting Consumer Financial Services from 2019-04-04T15:55:04
In this podcast, a member of Ballard Spahr’s federal lobbying and government relations team discusses what’s in the Consumers First Act (H.R. 1500, intended to undo Mick Mulvaney’s CFPB actions), t...
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A Discussion of Co-Brand Credit Card Rewards and Loyalty Programs from 2019-03-28T16:46:20
In this podcast, we look at co-brand credit card rewards and loyalty programs from the differing perspectives of banks and their merchant partners, including why these programs are important and th...
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The CFPB’s Final Prepaid Card Rule: Top Ten Compliance Considerations from 2019-03-21T15:59:13
The CFPB’s final prepaid rule takes effect on April 1. In this podcast, we look at the top ten issues companies should be considering to confirm compliance and discuss how the CFPB and federal ban...
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Diversity and Inclusion: An Update for Financial Institutions from 2019-03-14T19:38:17
In this podcast, we review the four key focus areas of the 2015 diversity and inclusion standards adopted by the Offices of Minority and Women Inclusion at the CFPB and other federal financial regu...
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The CFPB’s Innovation Proposals: Criticisms and Next Steps from 2019-03-07T15:31:15
The CFPB has issued proposals to revise its disclosure sandbox and no action letter policy and create a product sandbox. In this podcast, we review what the CFPB has proposed, assess the criticism ...
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