In this episode of Payments Pros, Keith Barnett is joined by James Stevens to discuss the Merchant Acquirer Limited Purpose Bank Charter (MALPB) in Georgia, a unique charter that allows companies to offer merchant payment processing services without a sponsoring partner bank. Despite being enacted 12 years ago, companies have been unable to utilize it due to card networks not allowing direct participation. This could change soon, especially with Fiserv’s recent application.
In this episode of The Consumer Finance Podcast, host, Chris Willis, is joined by Partners Kim Phan and Lori Sommerfield, to discuss recent developments related to website accessibility under the Americans with Disabilities Act (ADA). In this episode, they explore the Department of Justice’s proposed rule under Title II of the ADA, which seeks to improve state and local government website and mobile app access for individuals with disabilities, and the potential significance to the private sector. They also discuss the international World Wide Web Consortium’s latest version of its Web Content Accessibility Guidelines (WCAG), 2.2, and the first working draft of WCAG 3.0. Tune in to learn more about these important updates and how they may impact your organization.
Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Cindy Hanson for a highly informative discussion on federal preemption as it relates to state laws and the Fair Credit Reporting Act (FCRA). This episode provides listeners with an overview of important state and local legislation governing background screening, along with discussions about how federal preemption might affect required compliance with these state and local laws. Topics include:
In this episode of Payments Pros, Keith Barnett and Carlin McCrory are joined by Jordan Wright, CEO of Atomic Financial, to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed 1033 rule. This rule aims to limit the misuse or sale of consumer data, and is expected to be finalized by summer 2024.
Please join Troutman Pepper Partner Chris Willis, along with colleagues Lori Sommerfield and Mary Zinsner, as they discuss the impact of a consent order issued by the Consumer Financial Protection Bureau (CFPB) in May 2022 relating to cross-border garnishment practices and the implications on the financial services industry over the last year and a half. Chris, Lori, and Mary emphasize the CFPB’s expectations (which include the necessity of establishing a compliance program for garnishment processes and conducting 50-state surveys to better understand state garnishment laws), cross-border garnishment law issues, and the impact of the consent order on litigation. They also address how financial institution clients can comply with the CFPB’s regulatory expectations regarding the processing of garnishment orders in the future.
Please join Troutman Pepper Partners Chris Willis and Sheri Adler as they discuss recent developments in equity award delegations for public companies incorporated in Delaware. Sheri, a member of our Employee Benefits and Executive Compensation practice, provides our listeners with a 30,000-foot view of what equity incentive plans typically look like at a public company, such as a publicly traded bank or another financial institution. She then dives deeper into the topic of equity grant-making authority, addressing questions such as:
In this episode of Payments Pros, Keith Barnett and Carlin McCrory discuss the Consumer Financial Protection Bureau’s (CFPB) fall supervisory highlights, focusing on “junk fees.” The report covers examinations in areas of deposits, auto servicing, and remittances completed between February and August 2023. The recent report reveals that their efforts have resulted in institutions refunding more than $140 million to consumers. The report primarily focuses on deposits as an area of supervisory observations.
In this special solo episode of The Consumer Finance Podcast, Chris Willis provides an important update on the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 Final Rule. In October, a Texas federal court entered a nationwide injunction covering all small business lenders, essentially saying that both the implementation and enforcement of the 1071 rule would be stayed pending the outcome of the Supreme Court’s decision in the Community Financial Services Association case. Chris addresses the timing of the injunction, its impact on small business lenders, including the “free look” period for lender to voluntarily collect 1071 data, and what small business lenders can do to prepare for the potential lifting of the injunction after the Supreme Court’s decision.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Kim Phan, a partner in our firm’s Privacy + Cyber practice, to discuss the Securities and Exchange Commission’s new cyber risk management and incident disclosure rules for publicly traded companies. The rules, already in effect, detail the information a public company must report following a cybersecurity incident and the timeline for reporting. Chris and Kim also discuss the ongoing reporting obligations for a public company related to a cyber incident after the initial reporting phase, how the rules apply when cyber incidents involve a third party’s system, and if the SEC has struck the right balance between informing investors versus the possibility of educating hackers on a company’s cybersecurity defenses. They also address the rule’s new requirement for annual disclosures about a company’s cybersecurity risk management, strategy, and governance.
In this special crossover episode with Regulatory Oversight podcast, Ashley Taylor is joined by Kim Phan and Kristen Eastman to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed Rule 1033, also known as the Personal Financial Digital Rights rule. This rule, part of the Dodd-Frank Act, aims to restrict the sale or misuse of consumer data. It focuses on entities subject to the Truth in Lending Act (TILA) and Regulation Z, such as depository institutions, credit card companies, and payment processors. The rule requires these entities to make financial records available both to consumers and their authorized third parties.