Financial Forward: The Future of Consumer Finance & Banking The Evolution of Consumer Protection in Debt Collection with Abbas Kazerounian
In this episode of Financial Forward, host Jim McCarthy is joined by Abbas Kazerounian Esquire, a leading attorney in consumer protection and co-founder of Kazerouni Law Group.
They discuss the challenges, stories, and recent developments in consumer finance, focusing on the impact of the Consumer Financial Protection Bureau (CFPB) on the debt collection industry. Abbas shares his insights on the CFPB's role in cleaning up bad practices, the importance of data in consumer protection litigation, and ongoing issues in consumer finance such as identity theft and peer-to-peer payment fraud.
The conversation provides a comprehensive look at the intersection of regulation, legal practice, and consumer advocacy.
00:00 Introduction to Financial Forward
01:02 Meet Abbas Kazerounian: Consumer Protection Attorney
02:35 The Role of Data in Consumer Protection
04:13 Impact of CFPB on Debt Collection
08:43 Regulation F and Enforcement Timelines
12:36 The Future of Debt Collection
16:56 Subprime Credit Cards: A Deep Dive
20:37 Credit Lawsuits in California
21:01 Default Judgments and Debt Collection
21:47 Consumer Finance Focus Areas
23:14 Credit Reporting and Identity Theft
23:48 Data Breaches and Identity Theft Epidemic
25:02 Legal Actions and Consumer Rights
27:52 Peer-to-Peer Payments and Regulation
32:23 Advice for Identity Theft Victims
33:56 Conclusion and Contact Information
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