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In this episode of The Consumer Finance Podcast, Chris Willis delves into the latest annual report from the CFPB’s Office of Servicemember Affairs. While the report is ostensibly about issues affecting military personnel, it primarily highlights ongoing challenges in student loan servicing. Chris discusses key findings, including customer service obstacles, errors in income-driven repayment plans, and the contentious practice of transcript withholding. This episode underscores the CFPB’s persistent focus on these issues and the implications for the student loan servicing industry. Tune in for a comprehensive analysis and stay informed about the regulatory landscape.

In this episode of The Consumer Finance Podcast, Chris Willis delves into the Consumer Financial Protection Bureau’s (CFPB) recent response to the Treasury Department’s request for information on the use of artificial intelligence (AI) in financial services. Chris highlights key points from the CFPB’s communication, including their views on fraud models, fair lending testing standards, and the implications for financial institutions. He also discusses the CFPB’s candid remarks about its own innovation office and the future of regulatory treatment for individual firms. This episode is essential listening for anyone in the financial services industry looking to stay informed about regulatory expectations and compliance challenges.

Join Kim Phan, co-host of the Troutman Pepper podcast, FCRA Focus, as she welcomes special guests from the Credit Builders Alliance (CBA). In this episode, Chief Technical Officer Elisabeth Johnson-Crawford and Manager of Bureau Services Arinze Nwadiogbu, share their insights on the challenges and strategies for smaller entities in credit reporting. Learn about the benefits of credit reporting, the legal risks involved, and the comprehensive support CBA provides to its nonprofit members. From initial setup to ongoing compliance, discover how CBA helps organizations navigate the complexities of the credit reporting system. Tune in for an in-depth discussion on FCRA compliance, alternative data, and more. Don’t miss this informative episode packed with valuable advice and practical solutions for credit reporting success.

In this special crossover episode of The Consumer Finance Podcast and Moving the Metal, Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Consumer Financial Protection Bureau’s (CFPB) new report on negative equity in auto lending. This report, the first of its kind, utilizes data from the CFPB’s 2023 Auto Finance Data Pilot, which was issued to major banks, finance companies, and captive lenders. Brooke and Chris analyze the impact of the report, including what the report may indicate for the CFPB’s upcoming priorities.

In this special joint episode of Payments Pros and The Consumer Finance Podcast, Chris Willis and Carlin McCrory introduce Trevor Salter, a seasoned financial services transactional attorney who recently joined Troutman Pepper. Trevor shares his unique career journey from aspiring environmental attorney to becoming a key player in consumer financial services. The discussion delves into Trevor’s experience in strategic partnerships, card partnerships, and consumer data integrations, highlighting the synergies with the firm’s comprehensive financial services practice. Tune in to learn more about Trevor’s background, his decision to join the firm, and the exciting future ahead for the firm’s financial services team.

In this episode, Chris Carlson, an associate in the Regulatory, Investigations, Strategy and Enforcement (RISE) practice, joins Brooke and Chris to discuss how federal and state regulators are collaborating on consumer protection investigations. The team discusses a recent order and action against an Arizona-based auto dealer for multiple Unfair or Deceptive Acts or Practices (UDAP) violations. While contemplating whether this is a growing trend, the trio meanders into discussions about the CARS Rule and the potential impact of November’s election on the industry.

In this episode of The Consumer Finance Podcast, Chris Willis and Jesse Silverman delve into the recent activities of the Consumer Financial Protection Bureau (CFPB) that pose significant risks to retailers and merchants. They discuss various proposed rules, including those related to buy now, pay later, open banking, data brokers, and digital wallets, and how these could impact businesses that utilize consumer payment data. The conversation also covers the potential implications of becoming subject to CFPB supervision, including the rigorous compliance expectations and the extensive examination process. Jesse and Chris emphasize the importance of retailers and merchants getting educated on these developments and considering proactive steps to mitigate risks.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by privacy Partner Kim Phan and Rami Haddad, deputy general counsel at PRA Group. This episode delves into a range of emerging privacy issues impacting the financial services industry. The discussion covers the evolving landscape of state privacy laws, the implications of the new Colorado AI law, and the challenges posed by online tracking technologies. The episode also highlights recent updates to the FTC’s Gramm-Leach-Bliley Act Safeguards Rule and explores the ramifications of a recent SEC enforcement case related to cybersecurity. Tune in for an insightful conversation on how these developments are shaping the regulatory environment for financial institutions.