Financial Forward: The Future of Consumer Finance & Banking

Send us a text🔹 Host: Jim McCarthy🔹 Guest: Angela NibbsCEOMaven PRhttps://www.maven-pr.com/https://www.linkedin.com/in/angelanibbs/JP SnowFounder/PrincipalCustomer Catalyticshttps://customercatalytics.com/https://www.linkedin.com/in/jpsnow/Linda Straub Joneshttps://www.linkedin.com/in/linda-straub-jones/Asaf Buchnerhttps://www.linkedin.com/in/asafbuchner/Episode Summary:In this episode of Financial Forward, Jim McCarthy discusses the rapidly evolving landscape of consumer finance regulation and how financial institutions can proactively manage compliance risks. He breaks down the CFPB’s latest regulatory actions, explores how AI-driven insights like McCarthy Hatch’s FSAi can help banks stay ahead of enforcement trends, and provides a forward-looking perspective on how institutions can build consumer trust while maintaining profitability.Topics Discussed:✔ The biggest regulatory risks facing banks today✔ How AI and data analytics are transforming compliance management✔ The role of consumer sentiment in identifying financial risks✔ What financial institutions should expect from the CFPB in 2025Key Takeaways:💡 Regulatory scrutiny is increasing—banks must be proactive, not reactive💡 AI-driven risk monitoring like FSAi helps institutions identify and address compliance issues in real-time💡 Consumer complaints matter—regulators are using sentiment data to shape enforcement actionsConnect With Us:🌐 Website: McCarthy-Hatch.com📩 Email: jim@mccarthy-hatch.com🔗 Follow us on LinkedIn: McCarthy Hatch LinkedIn🎧 Subscribe to Financial Forward on Apple Podcasts, Spotify, or wherever you listen to podcasts!More from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textEpisode Title: The Speed of Risk: Bridging the Gap Between Compliance ModelsPodcast: Financial Forward – A McCarthy Hatch PodcastDuration: 43:33Episode Summary:In this episode of Financial Forward, host Jim McCarthy explores the evolving dynamics of risk management in the financial sector. Drawing on his expertise as a former founding member of the CFPB, Jim compares the traditional compliance methods of prudential regulators with the CFPB’s modern, data-driven approach. He highlights the challenges banks face in adapting to real-time risk identification and the urgent need for a mindset shift to align with 21st-century regulatory expectations.What You’ll Learn:The limitations of legacy compliance models built for prudential regulators.How the CFPB uses consumer sentiment data to uncover harm in real time.Why time is no longer a luxury in managing regulatory risks.Strategies for modernizing compliance systems to meet today’s demands.Practical insights on how banks can proactively identify and mitigate risks.Key Takeaways:Risk identification has dramatically accelerated with the CFPB’s innovative methods.Legacy compliance systems often delay actionable insights, increasing vulnerability.Embracing real-time analysis and modern compliance tools is essential for staying competitive.Resources Mentioned:CFPB Consumer Complaint Database (consumerfinance.gov)McCarthy Hatch Insights on Compliance and Risk (McCarthyHatch.com)Connect With Us:Website: McCarthy HatchLinkedIn: McCarthy Hatch on LinkedInEmail: info@mccarthyhatch.comMore from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textEpisode 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.Connect With Us:Subscribe to Financial Forward for more discussions on consumer finance and compliance. Share your thoughts on social media and stay informed about the latest trends.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/

Send us a textShow Notes: Financial Forward – Rebroadcast of Behind the VaultEpisode Title: The Future of Banking: Listening to Customers, Leveraging Data, and Ensuring StabilityEpisode Description: In this special rebroadcast of Behind the Vault, Jim McCarthy dives into a powerful conversation about the state of the financial industry and where it’s headed. The discussion explores:How large banks have lost their ability to truly listen to customers.The critical role real-time data plays in understanding and responding to customer needs.Why the stability and strength of traditional banking will become even more important as the fintech industry evolves.Packed with insights for anyone curious about the intersection of technology, customer experience, and banking stability, this episode is a must-listen for industry professionals, banking leaders, and consumers alike.Key Takeaways:Real-time customer data is essential for staying responsive and relevant in the financial industry.Large banks must re-establish their focus on listening to their customers to regain trust.As fintech continues to grow, traditional banking’s stability will remain a reliable foundation for customers seeking security.Resources Mentioned:Behind the Vault Podcast – Explore more episodes highlighting the voices of community banking leaders.Subscribe and Connect: Don’t forget to subscribe to Financial Forward for more episodes exploring the latest trends in consumer finance. Follow us on LinkedIn or visit our website at FinancialForwardPodcast.com to stay updated.Join the Conversation: We’d love to hear your thoughts on this episode! Share your feedback or connect with us on social media to keep the discussion going.Thank you for listening, and let’s keep moving financial forward!More from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn this episode of Financial Forward, host Jim McCarthy talks with Keshava Dasarathy, Founder of Finvizia, about the consumer journey in financial services and how firms can go beyond providing products to fostering financial health. Keshava shares his extensive experience in leadership roles at Fannie Mae, Capital One, and Boston Consulting Group to offer actionable insights into customer success, digital transformation, and strategy.Together, they discuss how organizations can build trust, drive customer engagement, and transform the way financial products and services are delivered, creating lasting value for consumers.Key Topics Covered:The challenges consumers face in achieving financial health.Strategies financial firms can adopt to enhance customer success.Innovations in digital transformation and customer engagement.The importance of addressing consumers' broader financial needs.Real-world examples of consumer-centric financial solutions.Guest: Keshava Dasarathy Founder of Finvizia, Adjunct Professor at NYU Stern School of Business, and former leader at Fannie Mae and Capital One.More from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn Part 2 of this special series, Jim McCarthy, Asaf Buchner, and JP continue the conversation on the transformative power of real-time data in financial regulation. They discuss how the regulatory landscape is shifting, and what this means for banks looking to stay compliant while managing risk effectively. This episode goes deeper into the strategies financial institutions can use to navigate the evolving landscape with confidence.  Episode Highlights:- [00:00 - 02:00] Recap and Introduction  Jim provides a brief recap of Episode 1 and sets the stage for a more in-depth discussion in Part 2. - [02:01 - 10:00] Real-Time Signals from the CFPB  Asaf and JP dive into how the CFPB's use of real-time data is changing the dynamics of regulatory oversight, and what this means for banks. - [10:01 - 18:00] How FSAi Helps Banks Stay Ahead  The team discusses specific case studies and examples of how the FSAi model has predicted regulatory risks before they became enforcement issues. - [18:01 - 21:00] The Role of Transparency in Risk Management  JP highlights the importance of transparency and how tools like FSAi support clearer communication between banks and regulators. - [21:01 - 23:00] Final Takeaways and Next Steps  Jim wraps up the series with a summary of key points and encourages listeners to implement real-time compliance strategies. Thank you for joining us on this journey through the future of financial risk management. If you enjoyed this series, please leave us a review and share it with your network. Subscribe on Apple, Spotify, and all major platforms for more episodes exploring the cutting edge of financial services.More from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn this episode of Financial Forward, Jim McCarthy sits down with Asaf Buchner, CEO of McCarthy Hatch, and JP, lead strategist, to explore how financial institutions are embracing 21st-century regulatory technology. They dive into the groundbreaking FSAi model and how real-time data analysis is helping banks stay ahead of regulatory risks. If you want to know how the game is changing in compliance, this episode is a must-listen! Episode Highlights:- [00:00 - 04:00] Welcome to Financial Forward  Jim introduces the podcast and sets the stage for a deep dive into real-time risk management with the FSAi model. - [04:01 - 07:30] The Shift to Real-Time Data  Discussion on how regulatory agencies like the CFPB are evolving, using real-time data instead of relying on outdated historical information. - [07:31 - 15:00] Introducing FSAi: A New Approach to Compliance  Asaf Buchner shares how the FSAi model provides proactive insights, predicting regulatory risks before they escalate. - [15:01 - 20:00] Bridging the Gap Between Regulators and Financial Institutions  JP explains how McCarthy Hatch is helping banks adapt to the new expectations of a 21st-century regulator. - [20:01 - 23:00] Closing Thoughts & Teaser for Episode 2  Jim wraps up the episode and teases the deeper dive into regulatory strategies in Part 2. Subscribe to Financial Forward on Apple, Spotify, or your favorite podcast platform to catch Episode 2, where we continue the conversation with even more insights!More from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn 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 Forward01:02 Meet Abbas Kazerounian: Consumer Protection Attorney02:35 The Role of Data in Consumer Protection04:13 Impact of CFPB on Debt Collection08:43 Regulation F and Enforcement Timelines12:36 The Future of Debt Collection16:56 Subprime Credit Cards: A Deep Dive20:37 Credit Lawsuits in California21:01 Default Judgments and Debt Collection21:47 Consumer Finance Focus Areas23:14 Credit Reporting and Identity Theft23:48 Data Breaches and Identity Theft Epidemic25:02 Legal Actions and Consumer Rights27:52 Peer-to-Peer Payments and Regulation32:23 Advice for Identity Theft Victims33:56 Conclusion and Contact InformationMore from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn this episode of Financial Forward, host Jim welcomes Mira Marshall, a distinguished attorney and founding member of the Consumer Financial Protection Bureau (CFPB). Mira shares her journey from her formative years to her significant role in establishing the CFPB's Supervision Division. The discussion touches on her achievements in consumer financial protection, the challenges she faced, and the vital role of supervision and examination in ensuring consumer fairness. They also delve into the importance of consumer complaints in shaping regulatory actions and the evolution of financial protections in today's marketplace.00:00 Introduction to Financial Forward01:21 Mira Marshall's Formative Years02:06 Early Career and Education04:00 Joining the Consumer Financial Protection Bureau05:47 Challenges and Achievements at the CFPB09:11 Supervision and Examination Insights27:01 The Importance of Consumer Complaints30:37 Advice for First-Time Examinees39:18 Conclusion and Final ThoughtsMore from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/

Send us a textIn this episode of Financial Forward, we explore the transformative efforts of Wole Coaxum, founder of Mobility Capital Finance (MOCAFI), in tackling financial exclusion among underbanked and unbanked Americans. Motivated by events like Ferguson, Missouri, Coaxum embarked on a mission to create a digital banking platform that champions economic equity and fights racial wealth disparity. We discuss innovative solutions like municipal ID cards, the evolving role of technology in banking, and the support provided to asylum seekers in New York. The episode covers partnerships with values-driven banks, overcoming regulatory challenges, and promoting community education and small business support. With insights into fintech-bank collaborations and ethical business practices, this conversation underscores the push towards a more inclusive and equitable financial system.00:00 Introduction to Wole Coaxum and MOCAFI01:59 Wole Coaxum's Early Career and Motivation07:20 The Birth of MOCAFI and Its Mission11:41 Challenges and Innovations in Serving the Underbanked21:21 MOCAFI's Strategic Partnerships and Community Impact26:31 Future Plans and Expansion Strategies30:33 Addressing Fraud and Disputes in Financial Services33:57 The Role of Sunrise Bank in Our Operations36:46 Challenges and Opportunities in Small Business Lending38:56 Scaling and Expanding Our Services41:54 The Importance of Compliance and Consumer Protection48:17 Reflections on Leaving JPMorgan Chase50:43 Envisioning Ethical Financial Services52:55 Closing Remarks and Future OutlookMore from Jim: LinkedIn: https://www.linkedin.com/in/mccarthyhatch/https://www.mccarthy-hatch.com/