Join Troutman Pepper Partner Brooke Conkle and Associate Chris Capurso as they delve into the complexities of ancillary products in the auto finance industry. From GAP waivers to extended warranties, discover the latest regulatory developments and compliance challenges that are shaping the landscape for consumers, dealers, and auto finance companies.
In the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan for an in-depth discussion on the Lummis-Gillibrand Payment Stablecoin Act. This legislation proposes a state and federal regulatory framework for overseeing stablecoins issued by U.S. companies.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner Lori Sommerfield to discuss the new guidance issued by the Department of Housing and Urban Development (HUD) on targeted advertising for housing and housing-related ads. The conversation delves into the implications of the guidance, which was motivated by HUD’s original charge of discrimination against Facebook in 2019 and President Biden’s 2023 Executive Order on the Safe, Secure, and Trustworthy Development and Use of AI. They explore how the guidance shifts the focus from disparate treatment to disparate impact, and the challenges advertisers and advertising platforms may face in complying with the new guidelines. The episode concludes with a discussion on the potential for regulatory overreach and the possibility of litigation.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Sheri Adler to discuss the implications of the upcoming change in securities law that shortens the settlement period for broker-dealer transactions from T+2 (two business days after the trade date) to T+1 (one business day after the trade date). This change, effective May 28, 2024, has significant implications for employers who offer equity-based compensation to their employees. Adler provides an overview of the history of the settlement cycle, the reasons behind the shift to T+1, and the impact on tax withholding obligations for equity awards. She also offers practical advice for companies to prepare for this change, including potential adjustments to the calculation of fair market value for withholding purposes.
In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleague Trey Smith to discuss the recent Wells notice issued by the Securities and Exchange Commission (SEC) to Uniswap, a major decentralized exchange.
In this episode of Payments Pros, Josh McBeain and Chris Willis discuss the Consumer Financial Protection Bureau’s (CFPB) proposed rule on overdraft fees. The rule, which only applies to large financial institutions with assets over $10 billion, aims to regulate overdraft services by altering the definition of ‘finance charge,’ effectively subjecting these institutions to Regulation Z’s disclosure and substantive provisions. Chris and Josh delve into the complexities of the proposed rule, considering its potential implications and the likelihood of litigation challenges from the industry. They also discuss the role of the Truth in Lending Act (TILA) and the concept of Chevron deference in this context.
Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Federal Trade Commission’s “Holder Rule” in the third of five special episodes devoted to auto finance issues. Although the Holder Rule has been around since the 1970s and is a staple of consumer finance contracts, there have been several recent, important developments. Brooke and Chris hop behind the wheel of this installment to review these developments, the position taken by the FTC and courts, and the potential impacts to dealers and finance companies.
In this episode of The Consumer Finance Podcast, Chris Willis discusses the recent changes the Consumer Financial Protection Bureau (CFPB) made to its rules for designating nonbanks subject to supervision due to potential risks to consumers. Willis provides a background on this authority granted to the CFPB by the Dodd-Frank Act and discusses the CFPB’s increased use of this authority in recent years. He also delves into the implications of the CFPB’s updated rules, emphasizing the need for nonbanks to prepare for potential supervision and to build robust compliance management systems. The episode provides valuable insights for nonbanks navigating the regulatory landscape and the potential for CFPB supervision.
In this insightful episode of FCRA Focus, host Dave Gettings and guest Jonathan DeMars, an associate in Troutman Pepper’s Consumer Financial Services Practice Group, delve into the recent Supreme Court decision in Department of Agriculture Rural Development Rural Housing Service v. Kirtz. This ruling examines the potential liability of the government under the Fair Credit Reporting Act (FCRA) and has implications through the legal community and beyond. Join us as we explore the intricacies of the case, the arguments that swayed the Supreme Court, and the likely effects on both government entities and private parties. This episode offers our insights into a case that defines the boundaries of sovereign immunity within the realm of credit reporting.
In the final episode of this series, Ethan, Addison, and Trey discuss federal digital asset-related bills and developments from 2023, along with two Office of Foreign Assets Control (OFAC) consent orders involving digital asset exchanges.