The Consumer Finance Podcast

Join Troutman Pepper Partner Chris Willis as he discusses the New York Department of Financial Services’ (NYDFS) latest updates to its cybersecurity regulations with Troutman Pepper Privacy + Cyber Partner Kim Phan. With data breaches on the rise, the NYDFS has heightened its expectations for licensed entities in New York regarding data management. The finalized draft of these changes was released on November 1, following a year of public comment. Kim provides listeners with important background on these changes and discusses their potential impact on financial institutions of all sizes. Topics include data retention requirements, end-of-life management, enhancements to multifactor authentication, response plan execution, and of course, enforcement actions.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join Troutman Pepper Partner Chris Willis for a solo episode where he discusses a recent joint statement from the Consumer Financial Protection Bureau and the Department of Justice regarding the consideration of immigration status in credit underwriting — an issue that has plagued creditors for years. Chris provides listeners with important background on this matter, the history and impact of litigation on credit underwriting and immigration status, the content of the joint statement, and what strategies creditors can employ to stay ahead of the issue. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join Troutman Pepper Partner Chris Willis and his colleagues Joe Reilly and Chris Capurso as they discuss the impact of state licensing laws on the consumer financial services industry. They tackle topics such as:When did licensing start and how did it grow into what it is today;Which entities are required to have a license and what happens if they engage in an activity that requires a license they do not have;What are the licensing requirements for various consumer lenders and nonlenders;Does the difficulty in obtaining licenses vary by state; andWhat services do our attorneys offer to clients to help them navigate the wild world of licensing requirements? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of The Consumer Finance Podcast, Troutman Pepper Partners Chris Willis and Matthew Orso discuss lessons learned from bank internal investigations. They explore the trigger points that give rise to these investigations, provide useful advice for banks regarding their investigations, discuss how to avoid common issues, and suggest remedial measures to prevent issues from repeating. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join Troutman Pepper Partners Chris Willis, Mary Zinsner, and Dave Gettings for an in-depth discussion about litigating elder financial exploitation cases. Elder abuse and financial exploitation of the elderly are increasing problems in our society, and financial institutions are right in the thick of it. Chris, Mary, and Dave discuss trends in elder fraud litigation, offering insights on the common themes and defenses that financial institutions have in these cases. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join Troutman Pepper Partners Chris Willis and Sheri Adler as they dive into the new requirement for publicly traded companies (including financial services companies) to adopt a clawback policy requiring the recoupment of erroneously awarded incentive compensation by December 1, 2023. Chris and Sheri discuss many facets of the rules and what steps companies can take to ensure compliance, including:Which companies are subject to the new rules?Who must the policy cover?What compensation is covered?What amount is recoverable?What triggers a clawback?May the compensation committee exercise discretion as to whether or not to pursue a clawback?Can a company indemnify an executive for the loss of erroneously awarded compensation?What is the consequence for a company’s failure to comply?What are some practical considerations for getting into compliance? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join Troutman Pepper Partner Chris Willis and fellow Partner Matthew Orso as they discuss the Bank Secrecy Act, anti-money laundering, and countering the financing of terrorism rules, as they pertain to financial institutions defined by FinCEN. The discussion includes topics such as which companies are subject to the rules, compliance issues financial institutions may face, and what financial institutions can do to avoid potential issues. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis and fellow Partner Glen Trudel discuss the Final Interagency Guidance put out by the Federal Reserve, the FDIC, and the OCC regarding third-party relationships. Topics include the agencies' goals in putting out this joint guidance, notable points raised in the guidance, and potential impacts on the industry from the advent of this guidance. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Please join Troutman Pepper Partners Kim Phan and Stefanie Jackman for a special podcast episode showcasing our firm's state and federal legislative and regulatory tracking products. These powerful tools were designed to inform industry professionals about the latest state and federal legislative and regulatory developments in order to aid organizations with their compliance management systems and initiatives. The weekly trackers focus on three areas: debt collection, privacy and data security, and consumer reporting and Fair Credit Reporting Act case law. In addition to a weekly tracker, you will be invited to participate in monthly roundtable discussions with Kim and Stefanie. You will also have access to a searchable online portal, which houses all of the information sent out in the weekly updates plus the topics covered in our monthly roundtables. Please tune in to learn more about receiving this valuable tool for your organization.For more information on our firm's state and federal legislative and regulatory tracking products, contact Stefanie Jackman, Kim Phan, or Mike Bevel. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave Gettings, Kim Phan, Ethan Ostroff, and Ron Raether discuss the potential implications of regulating data brokers under the FCRA, and how this might affect data brokers as well as other types of entities, including users, consumer reporting agencies, and resellers. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.