The Consumer Finance Podcast

Join us for the second 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, Ron Raether, and Ethan Ostroff discuss the regulation of credit header data and the potential impact on the FCRA and consumer reporting agencies, as well as users and data brokers.Stay tuned for the third and final episode in this series, which will focus specifically on data brokers and the possibility of regulating them under the FCRA, and how this might affect data brokers as well as other types of entities, 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.

Join us for the first 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, Ethan Ostroff, and Kim Phan explore the historical events that led us to this point, the next steps in the rulemaking process, the expected timeline for a final rule, how the CFPB is coordinating with the FTC and other regulators, and the expected proposed rulemaking regarding credit header data and data brokers.Stay tuned for the next two episodes in this series. In our second episode, our panel will discuss the regulation of credit header data and the potential impact on the FCRA and consumer reporting agencies, as well as users and data brokers. And the final episode of our series will focus specifically on data brokers and the possibility of regulating data brokers under the FCRA, the effect it can have on data brokers as well as other types of entities, 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.

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Joe Reilly for an important update on the Consumer Financial Protection Bureau's (CFPB) new small business lending data collection and reporting final rule — the Section 1071 Final Rule. On July 31, the U.S. District Court for the Southern District of Texas issued a preliminary injunction enjoining the CFPB from implementing and enforcing the Final Rule against members of the American Bankers Association, Texas Bankers Association, and a Texas bank. Chris, Lori, and Joe discuss who benefits from the injunction and what it means for those who do not, advocacy efforts by other financial institution trade groups to level the playing field, the impact on small business borrowers, when we can expect a resolution, and until then, how small business lenders should move forward. 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 is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the industry about various topics, including:Regulation of cryptocurrency at the federal and state level, and what the regulators are targeting;The involvement of state attorneys general in cryptocurrency and enforcement;Movement on the legislative front, including New York's Cryptocurrency Regulation, Protection, Transparency, and Oversight Act, and the U.S. House of Representatives Financial Services Committee release of the Digital Asset Market Structure Discussion Draft; andWhat we can expect in the future with regard to cryptocurrency regulation and enforcement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Corporate theft can happen in any workplace, but in the world of financial services, the theft can also create regulatory and litigation exposure for financial institutions. What type of employee is most likely to steal from the company or its customers? What can companies do to combat this? Partners Tracey Diamond and Evan Gibbs chatted with Troutman Pepper Partner Chris Willis about the popular movie Office Space, employee misconduct, and creative uses of technology to protect against corporate theft. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In our latest episode of The Consumer Finance Podcast, Chris Willis and his colleagues Stefanie Jackman, Joe Reilly, and Jonathan Floyd discuss the CFPB's advisory opinion related to collection of time-barred debt. The discussion includes a look at the historical events that led up to this opinion, whether or not an FDCPA-covered debt collector can sue to collect a time-barred debt, how this opinion relates to state law analogs, and key takeaways for the industry. 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 Partner Chris Willis and his colleague Kim Phan as they discuss the new California Privacy Rights Act (CPRA) and the creation of the California Privacy Protection Agency (CPPA), California's first state agency focused exclusively on privacy. They also dive into the CPPA's recent amendments to the California Consumer Privacy Act (CCPA), discussing the timeline, overview, and technical guidance for companies. And with 23 topical areas of regulation — what we can expect from the CPRA's next set of rules. 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 Chris Willis and Stefanie Jackman, along with special guest Prodigal Banking Strategy Leader Scott Hamilton for a discussion about how voice AI and machine learning contribute to more efficient call center controls plus much more. Topics include:The challenges faced by call centers;The benefits of machine learning models capable of assessing calls with accuracy that often exceeds the accuracy of a human;How these machine learning models work;What banks have learned along this journey; andFor those interested in learning more, where should you start?Scott Hamilton serves as the banking strategy leader at Prodigal, a voice AI software company focused exclusively on consumer finance. Before joining Prodigal, Scott spent 30 years leading operational transformations and risk consent order remediation efforts at several large financial institutions, while also consulting with approximately 25 other banks. Most recently, Scott focuses on building and deploying NLP/ML models, capable of true semantic understanding/human levels of accuracy intended to deliver 20-50% lifts in productivity, positive call outcome, and compliance. 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 Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of the Practical Handbook on Fair Lending for Bank Directors and Executive Officers (AABD Handbook). The updated AABD Handbook addresses the dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws over the past decade, with aggressive enforcement of the Equal Credit Opportunity Act and Fair Housing Act by federal agencies (including the CFPB, U.S. Department of Justice, and federal banking agencies) under various presidential administrations.The AABD Handbook is designed to raise awareness and provide education to bank directors and executive officers about federal fair lending laws and related laws, as well as offer guidance to directors and executive management on their roles in providing meaningful oversight for fair lending risk management. The AABD Handbook also describes best practices to enhance banks' fair lending compliance programs to meet regulatory expectations. For this reason, the AABD Handbook serves as a helpful resource for others, including chief risk officers, chief compliance officers, and fair lending officers.The AABD Handbook is available for purchase through Amazon in paperback and e-book formats.David Baris serves as the president of the American Association of Bank Directors (AABD). He has led AABD since its founding in 1989 to provide bank directors the resources with which to serve their institutions effectively and in a manner that minimizes the risk of personal liability consistent with safe and sound banking practices. AABD supports bank directors through its advocacy, information, and training initiatives.David was a banking law partner with several law firms for many years, including Kennedy & Baris, which he co-founded, and later the Buckley law firm in Washington, D.C. Earlier in his career, he served as counsel to an oversight subcommittee of the House Government Operations Committee and legislative counsel to a member of Congress. Mr. Baris has authored seven books and numerous articles on bank director issues. 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 attorneys Chris Willis, Keith Barnett, Carlin McCrory, and Josh McBeain in announcing the Payments Pros Podcast — our new podcast providing insights for those in the payments law industry. This podcast features analysis and commentary from our attorneys and business leaders, regulatory experts, and stakeholders on the most challenging legal and regulatory concerns confronted by companies and others in the payments industry. From the BSA to EFTs, fintech to regtech, licensure to lending, NACHA to the CFPB, and payment processing to debt collecting, we have you covered! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.