In this episode, hosts Brooke Conkle and Chris Capurso delve into the latest TransUnion report on credit industry insights for the fourth quarter of 2024. With auto finance trends revealing rising loan-to-value ratios, increasing monthly payments, and growing account delinquencies, the industry potentially faces expected – and unexpected – challenges in the coming months. Join
Join us for a special crossover episode of The Consumer Finance Podcast and Regulatory Oversight, where Chris Willis, Kim Phan, and Gene Fishel delve into the evolving world of state AI legislation. As AI becomes a pivotal tool in the financial services industry, understanding the implications of new laws is crucial. This episode focuses on Colorado’s comprehensive AI law and its potential influence on other states, exploring key issues such as algorithmic discrimination, privacy, and cybersecurity. Gain insights into best practices for compliance and learn how state attorneys general are stepping up enforcement in the absence of federal action. Don’t miss this informative discussion bridging consumer finance and regulatory oversight.
In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings bring you the latest updates from the regulatory and litigation sides of the house. Dave shares his insights on the challenges and litigation surrounding identity theft investigations, offering practical tips for furnishers to navigate these complex issues. Kim provides an overview of the Consumer Financial Protection Bureau’s renewed supervision efforts and what it means for Fair Credit Reporting Act compliance. Tune in for an engaging discussion filled with valuable information and practical advice.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump administration. First, we unpack the Consumer Financial Protection Bureau’s (CFPB) surprising move to vacate its own redlining consent order with Townstone Financial, Inc. We then analyze the Federal Housing Finance Agency’s (FHFA) dramatic policy shift requiring two government sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac) to terminate special purpose credit programs (SPCPs), as well as the broader implications for mortgage lenders. Join us for the twists and turns of this evolving fair lending regulatory landscape and learn what steps institutions should consider taking to mitigate risks.
In this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins. The group begins by exploring the advantages of payment stablecoins, such as their 24/7 availability and programmability, and the merits of having robust competition for stablecoin issuance and use cases.
In this special crossover edition of the Payments Pros and Crypto Exchange podcast, Carlin McCrory is joined by colleagues Alex Barrage and Ethan Ostroff to discuss recent legislative updates surrounding payment stablecoins. The group begins by exploring the advantages of payment stablecoins, such as their 24/7 availability and programmability, and the merits of having robust competition for stablecoin issuance and use cases.
In this episode of Moving the Metal, Brooke Conkle and Chris Capurso from Troutman Pepper Locke’s Consumer Financial Services Practice Group discuss what dealerships and auto finance companies should prioritize amidst regulatory changes in Washington, D.C. They cover updates on the Consumer Financial Protection Bureau, Federal Trade Commission, and Federal Communications Commission, as well as the importance of consumer complaints, workforce training, and preparing for a potential recession. Tune in to stay informed and ensure your business is ready for any challenges.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how these unique financial products work, the regulatory landscape, and the litigation hurdles faced by reverse mortgage servicers. Listen to this episode to hear real-life examples highlighting the complexities reverse mortgage servicers may face when dealing with reverse mortgages, including loan origination requirements, the involvement of the U.S. Department of Housing and Urban Development, Federal Housing Administration guidelines, alleged third-party fraud, and the sensitivity around elderly borrowers.
In this episode of the Consumer Finance Podcast, Chris Willis, co-leader of Troutman Pepper Locke’s Consumer Financial Services Regulatory practice, delves into the current state of machine learning and artificial intelligence (AI) models in underwriting and fraud detection. Chris provides an overview of the regulatory expectations set by the Consumer Financial Protection Bureau, including the historical context and recent developments. He discusses the importance of fair lending considerations, the use of less discriminatory alternative analysis, and the skepticism around certain types of alternative data. Chris also explores the potential impact of state regulations and the need for a long-term approach to fair lending risk. Tune in to stay informed about the evolving landscape of AI and machine learning in consumer finance.
In this episode of Moving the Metal, hosts Brooke Conkle and Chris Capurso from Troutman Pepper Locke’s Consumer Financial Services Practice Group explore the complexities of the Telephone Consumer Protection Act (TCPA) and its impact on the auto finance industry. They discuss the historical context, current regulatory landscape, and future implications of the TCPA, including the distinction between informational and marketing messages, the importance of obtaining the correct type of consent, and recent regulatory updates such as the one-to-one telemarketing consent rule and new revocation rules. Tune in to gain valuable insights on managing TCPA compliance and mitigating risks in the auto finance sector.