Unpacking Dodd-Frank 1034(c): Compliance, Consumer Protection, and Data Collection

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Episode Summary:
In this episode of Financial Forward, host Jim McCarthy, chairman of McCarthy Hatch, joins forces with Brandi Reynolds, Chief Growth Officer at Bates Group, to break down Section 1034(c) of the Dodd-Frank Act. This pivotal regulation emphasizes transparency and responsiveness in consumer complaint management, a cornerstone of consumer protection.

Together, Jim and Brandi discuss the Consumer Financial Protection Bureau’s (CFPB) approach to collecting and analyzing consumer complaint data and the compliance challenges facing financial institutions. Brandi shares her expertise on aligning institutional practices with regulatory expectations, particularly in fintech and banking sectors.

Key Takeaways:

• The role of Dodd-Frank Section 1034(c) in driving consumer complaint accountability.
• How the CFPB’s data collection influences compliance strategies.
• Tips for financial institutions to respond effectively to consumer complaints.
• Insights from Brandi Reynolds on compliance challenges in fintech and banking.

About the Hosts:
Jim McCarthy is the chairman of McCarthy Hatch and host of Financial Forward, leveraging his extensive experience in consumer finance and regulatory compliance.

Brandi Reynolds is the Chief Growth Officer at Bates Group, with over 19 years of expertise in anti-money laundering and consumer protection compliance, particularly in fintech and cryptocurrency sectors.

About Bates Group:
Bates Group offers compliance, regulatory, and litigation consulting for financial services firms. Their expert team helps organizations navigate complex regulations and achieve sustainable compliance.

Resources Mentioned:

• Learn more about Dodd-Frank Section 1034(c) here.
• Discover Bates Group: Bates Group.

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Disclaimer:
This episode is for informational purposes only and does not constitute legal advice. Consult your legal counsel for specific guidance.

More from Jim:
LinkedIn: https://www.linkedin.com/in/mccarthyhatch/
https://www.mccarthy-hatch.com/