Ramon Gomez, Managing Director at JPMorgan Chase, discusses the implications of Section 1033 of the Dodd-Frank Act on consumer data sharing. Topics include screen scraping risks, CFPB oversight, FDX standards, and coordinated regulatory efforts to protect consumer data in the financial sector.

FinRegLab Deputy Director Kelly Cochran joins RegFi cohosts Jerry Buckley and Caroline Stapleton for a conversation about how machine learning – including generative artificial intelligence – is used by consumer lenders and the evolving regulatory response. Kelly begins with a helpful distinction between the technologies commonly included under the broad “AI” moniker, noting that many of these algorithmic models are not new to credit underwriting. The discussion then pivots to the growing focus on generative AI and the need to balance its potential benefits with consumer protection, data privacy and explainability considerations. Kelly suggests that existing rules in the financial services regulatory framework can be adapted to address many of these issues and serve as a model for AI policymaking in other sectors. Links: FinRegLab Website Orrick Financial & Fintech Advisory RegFiPodcast.com

Orrick Partner Jeff Hydrick joins Jerry Buckley and Sherry Safchuk for a look into the growing role of fintechs and other non-bank financial institutions in commercial financing. The conversation provides insights into the quickly growing sector, key market participants and legal and regulatory developments in the space. Among other topics, the discussion highlights the compliance challenges presented by inconsistent requirements at the state and federal levels as regulators and policymakers attempt to adapt existing regulations to innovative offerings. Links: Orrick Financial & Fintech Advisory RegFiPodcast.com

John Gulliver — the Executive Director of the Program on International Financial Systems and the Committee on Capital Markets Regulation — joins RegFi cohosts Jerry Buckley and Caroline Stapleton for a conversation about the evolving landscape of financial regulation, both domestically and internationally. John shares his perspective on how the U.S. financial regulatory regime compares to its international peers on a number of technology-related topics, including the development of central bank digital currencies, the regulation of crypto and digital assets, and the supervision of high-speed markets. He suggests that depoliticizing regulatory policymaking will help the U.S. adapt to new technologies and maintain its global economic advantage by fostering innovation. Links: Program on International Financial Systems (PIFS) Committee on Capital Markets Regulation (CCMR) Orrick Financial & Fintech Advisory RegFiPodcast.com

Credit unions have been a crucial component of the American financial services ecosystem for over a century. Rodney Hood – former Chair of the National Credit Union Administration (NCUA) – joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt for a conversation about how credit unions are adopting technology to remain relevant in the digital economy. Rodney highlights the NCUA’s Office of Technology and Access as a source of guidance for fintech adoption as well as the role that Credit Union Service Organizations (CUSOs) play in sharing resources to support innovation at small- and mid-sized credit unions. He also points to the importance of the human element in innovation, including the need to recruit regulators conversant in new technologies and ways to ensure that the financial services industry reflects the diversity of the populations it serves. Links: National Credit Union Administration (NCUA) Orrick Financial & Fintech Advisory RegFiPodcast.com

In this RegFi episode, co-hosts Jerry Buckley and Sasha Leonhardt talk with Nat Hoopes, Head of Public Policy and Regulatory Affairs at Upstart. Nat shares insights into how fintech lending platforms can augment and improve upon traditional underwriting tools, help credit unions and smaller financial institutions reach more customers by driving digital transformation, and serve as a resource for banks and other lenders to expand access and manage compliance obligations related to evolving Community Reinvestment Act requirements. Links: Upstart Orrick Financial & Fintech Advisory RegFiPodcast.com

In this episode, RegFi hosts Jerry Buckley and Sherry Safchuk welcome Chris Hilliard, COO and founding member of Winnow Solutions, LLC. Chris draws upon his experience as the former chief compliance officer at Happy Money and his current role as a regtech founder to share insights on how fintechs and other financial services companies can meet evolving regulatory challenges. The conversation covers a range of topics, including the importance of augmenting dedicated in-house compliance teams with up-to-date technology, data privacy risks related to the rise of open banking and the responsible role of generative AI in legal research applications. Links: Winnow Solutions, LLC Orrick Financial & Fintech Advisory RegFiPodcast.com

The CFPB’s proposed rulemaking on digital wallets and payment apps would bring new regulatory supervision and compliance obligations to technology companies. RegFi co-hosts Jerry Buckley, Sasha Leonhardt, Sherry Safchuk and Caroline Stapleton delve into the rule’s complexities and implications for large participants in the digital payment space. The conversation begins with an overview of the Bureau’s motivation and statutory authority for promulgating this rule before discussing the rule’s substance, potential challenges for covered entities and the public comments received in advance of the January 8th deadline. Links: Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (CFPB) CFPB Takes Next Step in Its Big Tech Regulatory Strategy (Orrick Insight) Orrick Financial & Fintech Advisory RegFiPodcast.com

RegFi kicks off 2024 by welcoming Greg Baer, President & CEO of the Bank Policy Institute (BPI). He shares his perspective on a broad range of topics affecting the banking sector, including the current regulatory landscape, competitive pressures from the so-called “shadow banking” sector, the CFPB’s 1033 rule and the future of open banking, and the role of AI and other technologies in improving bank supervision and compliance. Links: Bank Policy Institute (BPI) Orrick Financial & Fintech Advisory Practice RegFiPodcast.com

As the year draws to a close, we welcome Peter Renton to the RegFi podcast for a conversation about fintech trends from 2023 and what to anticipate moving ahead. Peter is the chairman and co-founder of Fintech Nexus and has developed a unique point of view covering the fintech industry for more than a decade. He sees the pace of change accelerating, creating exciting opportunities for technological innovation and collaboration between tech companies and financial services providers, as well as associated challenges for regulators and policymakers tasked with ensuring stability without stifling innovation. Links: Fintech Nexus Orrick Financial & Fintech Advisory Practice RegFiPodcast.com