On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed a district court’s decision holding a credit union liable for a wire transfer in a business email compromise scam case where the credit union lacked “actual knowledge” of the mismatch between the account number and beneficiary.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Matt Hansen, Jason Manning, and Michael Lacy, partners in Troutman Pepper Locke’s Consumer Financial Services practice group, to discuss the use of mock jury exercises in consumer financial services litigation. They explore what mock jury exercises are, why they are used, and the benefits they provide in preparing for trial. The conversation covers the timing and implementation of these exercises, the insights gained from them, and real-life examples of how they have influenced case outcomes. Tune in to learn how mock jury exercises can help legal teams refine their strategies and improve their chances of success in court.
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging 2024. Courts across the country issued rulings that will have immediate and lasting impacts on the industry. Our team of more than 170 professionals has prepared this concise, yet thorough analysis of the most important issues and trends throughout our industry. We not only examined what happened in 2024, but also what to expect — and how to prepare — for the months ahead.
In this episode of The Consumer Finance Podcast, host Chris Willis and Michael Lacy, Consumer Financial Services Practice Group leader, introduce Troutman Pepper Locke’s annual Year in Review and Look Ahead publication. The publication covers 17 critical areas, including the Fair Credit Reporting Act, the Telephone Consumer Protection Act, and FinTech. This concise and accessible report offers valuable insights for clients, practitioners, and regulators. Tune in to stay informed and ahead of the curve.
In the first episode of The Consumer Finance Podcast as the newly combined Troutman Pepper Locke, host Chris Willis is joined by Partners Tom Yoxall and Michael Lacy to discuss the strategic merger between Troutman Pepper and Locke Lord, which became effective on January 1. The episode explores the enhanced capabilities and expanded geographic reach of the combined firm, particularly in the consumer financial services and broader financial services sectors. Tune in to learn about the synergies, cultural alignment, and future goals of this financial services powerhouse.
Please join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead. In our eighth year of publishing this annual review of regulatory and legal developments in the consumer financial services industry, our team has prepared a thorough analysis of the most important issues and trends across 17 consumer protection areas. For the first time, we are rolling out both webinars and podcasts on select topics to not only provide more in-depth coverage of 2023 events, but also let you know what we expect in 2024. This material will be beneficial to in-house counsel, compliance managers, regulators, and anyone in the consumer financial services space who wants to stay ahead of the curve.
Effective September 1, the American Arbitration Association (AAA) has finally updated its Commercial Rules and Mediation Procedures, concluding a two-year internal review. The amendments provide greater procedural discretion to arbitrators, further streamline expedited arbitrations, change the amount-in-controversy requirements for certain arbitration paths, and provide express confidentiality protections, among other things.
First, the amended
In Cadence Bank, N.A. v. Roy J. Elizondo III, PLLC, the Supreme Court of Texas recently held that an administrative form relied upon by a victim of a fraud scam did not impose contractual obligations on a bank to verify available funds before processing the wire transaction.
A Texas lawyer maintained an IOLTA deposit
On March 16, the Consumer Financial Protection Bureau (CFPB or Bureau) unveiled an enormous change to its fair lending philosophy that will have major ramifications for financial services providers of all types. In a press release, the CFPB announced that it will begin targeting discrimination as an unfair practice under its unfair, deceptive, and
On July 22, U.S. District Judge Allyne Ross awarded summary judgment to a plaintiff who brought suit under the Fair Debt Collections Practices Act (FDCPA). The victory, however, could be Pyrrhic. Over the course of 20 months of litigation, what began as a five-count purported class action was whittled down to one individual claim that