RegFi Podcast

Rob McKenna, Orrick partner and former Washington State Attorney General, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss the expanding role of state attorneys general in consumer financial protection. The conversation explores how state AGs and regulators are setting standards for privacy, crypto and other digital assets, artificial intelligence, bank/fintech partnerships and other issues impacting the financial services industry. Links: Orrick State AG Investigations & Enforcement Orrick Financial & Fintech Advisory RegFiPodcast.com

Jo Ann Barefoot, founder and CEO of the Alliance for Innovative Regulation (AIR), and Kabir Kumar, partner at Flourish Ventures, join co-hosts Jerry Buckley, Sasha Leonhardt and Sherry Safchuk for a special RegFi episode recorded during Orrick’s Annual ConFi Today conference. The conversation explores the future of financial regulation in the technology age, including AI's transformative potential in financial services, the challenges of navigating state and federal regulatory frameworks, and how technological advances could enable real-time regulatory supervision. Alliance for Innovative Regulation (AIR) Flourish Ventures “Financial Regulators' Dilemma: Administrative and Regulatory Hurdles to Innovation” Orrick Financial & Fintech Advisory RegFiPodcast.com

RegFi Co-Hosts Jerry Buckley and Sasha Leonhardt welcome Orrick partner Behnam Dayanim to explore the applications of blockchain in financial services, including cryptocurrencies, stablecoins and decentralized finance. The conversation also covers the evolving regulatory landscape for these technologies following the recent White House Digital Asset Summit, guidance from the new administration and rulemaking activity at the state level. Links: Orrick Blockchain and Virtual Currency Orrick Financial & Fintech Advisory RegFiPodcast.com

RegFi co-hosts Jerry Buckley and Sherry Safchuk welcome fellow Orrick partner Katy Ryan to discuss the state financial regulatory landscape. Katy provides an overview of how federal agencies and states interact in our dual-regulatory system, the benefits and limitations of the Nationwide Multistate Licensing System (NMLS), and the importance of maintaining constructive relationships with state regulators. The conversation also covers state regulatory and enforcement trends, including increasing coordination among state regulators and attorneys general and the potential for states to play a more active role in areas such as consumer protection, BSA/AML and data privacy. Links: CFPB Pause: Where to From Here? The Post-Election Outlook for State Financial Regulation Orrick Financial & Fintech Advisory RegFiPodcast.com

Ian P. Moloney, the Head of Policy and Regulatory Affairs at the American Fintech Council, dives into the world of Earned Wage Access (EWA), a service empowering workers to access wages before payday. He discusses the benefits of EWA and the pressing regulatory challenges that accompany its rising popularity. The conversation also highlights the importance of establishing a unified federal regulatory framework, collaborating with organizations to create consistent rules, and the evolving relationship between fintech firms and traditional banks in this innovative landscape.

Opening a Path for New Bank Formations The Klaros Group’s Michele Alt joins Orrick partners Jerry Buckley, Caroline Stapleton and Walt Zalenski to explore actions needed to facilitate new bank formations, which have slowed to trickle in recent years. The conversation highlights a recent letter — cosigned by Michele, Jerry, Walt and other senior banking and financial services advisers — outlining how federal financial regulators can break the logjam slowing applications for de novo charters. Among the recommendations to incoming agency leadership is a call to improve objectivity and transparency and encourage fintech and traditional bank charters to foster greater consumer choice and innovation in the financial system. Links: Executive Summary: Steps To Take Now to Encourage New and Innovative Bank Formation Full Letter: Proposed Measures to Improve the Bank Charter Application Process to Facilitate New and Innovative Bank Formation Klaros Group, LLC Orrick Financial & Fintech Advisory RegFiPodcast.com

Justin Wiseman, Vice President and Regulatory Counsel at the Mortgage Bankers Association, joins RegFi co-hosts Jerry Buckley and Sherry Safchuk to discuss how housing availability and affordability have moved to the forefront of the national agenda. The conversation explores regulatory initiatives the new Trump Administration could take to enhance housing and mortgage credit availability and reforms advocated by the MBA to reduce closing costs. The group also assesses the potential impact of proposed AI-related legislation on the mortgage banking business and issues associated with bringing the GSEs out of conservatorship. Links: Mortgage Bankers Association Orrick Financial & Fintech Advisory RegFiPodcast.com

Jane Barratt, Financial Data Exchange (FDX) co-board chair, joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt to share the role FDX will play as the first standard setting organization (SSO) approved by the CFPB pursuant to the 1033 Rule. The conversation explores the benefits of token-based APIs over screen scraping, the interdependence between digital identity, fraud prevention and data security, and the promise that secure data sharing holds for consumers and financial services providers alike. Links: Financial Data Exchange MX Technologies Orrick Financial & Fintech Advisory RegFiPodcast.com

At no time in recent memory has consumer finance regulation faced more prospects for change. RegFi hosts discuss what could be in play for consumer finance in 2025, including the future of the CFPB, artificial intelligence, increased activity at the state-level, and a potential rethink of consumer finance regulation. Links: RegFi Episode 49: CFPB’s 1033 Rule: Where to From Here? Orrick Financial & Fintech Advisory RegFiPodcast.com

The discussion dives into the CFPB’s groundbreaking proposal to extend the Fair Credit Reporting Act to data brokers. Co-hosts unravel the potential reshaping of consumer reporting by redefining key terms, highlighting significant implications for privacy. The risks surrounding de-identified data are scrutinized, showcasing the need for stringent consumer protection. Finally, they examine how these new regulations could impact consumer consent and marketing practices, raising urgent questions about transparency and state-level compliance.