Payments Pros – The Payments Law Podcast

In this episode of Payments Pros , host Carlin McCrory welcomes Jason Mikula, a seasoned fintech and banking advisor, to explore various topics within the payments industry. They begin by examining the implications of U.S. sanctions on global payment systems and the potential shift away from U.S.-controlled payment rails. The discussion then moves to the viability of pay-by-bank systems in the U.S...

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 stabl...

In this episode of Payments Pros , host Carlin McCrory discusses a recent consent order between Patriot Bank and the Office of the Comptroller of the Currency (OCC) following a $27 million loss. The order addresses unsafe practices and legal violations, focusing on prepaid card program oversight. Key areas of concern include the need for a strategic plan, evaluation of internal operations, and sta...

In the latest episode of Payments Pros , hosts Keith Barnett and Carlin McCrory discuss the latest FinCEN and OFAC guidance on virtual currency transactions, specifically tailored for companies in the payments industry. They explore when businesses need to register as money services businesses (MSBs) under federal law and discuss the roles of users, exchangers, and administrators of virtual curren...

In the latest episode of Payments Pros , host Carlin McCrory welcomes Kim Phan to discuss the Consumer Financial Protection Bureau's (CFPB) recent inquiries into enhancing privacy protections. On January 10, the CFPB sought public input on improving privacy safeguards and curbing harmful surveillance and digital payments, particularly those offered by large technology platforms. The CFPB is partic...

In the final installment of the four-part "Payments Year in Review" series, hosts Keith Barnett and Carlin McCrory discuss significant enforcement actions and regulatory trends. The discussion begins with the increased scrutiny from the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) on bank and nonbank partnerships, emphasizing sound risk managemen...

In the third installment of the four-part "Payments Year in Review" series, hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss the Federal Trade Commission's (FTC) actions in 2024 and their expectations for 2025. They begin by examining amendments to the Telemarketing Sales Rule, which now includes inbound calls for technical support services. The discussion then shifts to the FTC's ann...

In the second installment of a four-part Payments Year in Review series , Keith Barnett and Josh McBeain discuss significant developments in the payments landscape from the Consumer Financial Protection Bureau (CFPB) in 2024 and expectations for 2025. Our co-hosts continue with a discussion of the CFPB's proposed interpretive rule on earned wage access products, highlighting its broad definitions...

In the first installment of a four-part Payments Year in Review series , Keith Barnett and Carlin McCrory discuss significant developments in the payments landscape from the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) in 2024 and expectations for 2025. Our co-hosts begin with an overview of the CFPB's new rule for supervising large tech companies offering dig...

In the latest episode of Payments Pros , host Carlin McCrory welcomes Jesse Silverman to discuss the Consumer Financial Protection Bureau's (CFPB) recent order asserting supervisory authority over Google Payment Corp. The CFPB's claim is based on Dodd-Frank Section 1024, which includes a category for entities posing a risk to consumers. The CFPB cited 267 consumer complaints about Google Pay produ...

In this special crossover episode of the Payments Pros and Crypto Exchange podcasts, our hosts are joined by colleague Alexandra Steinberg Barrage to discuss California's Department of Financial Protection and Innovation’s proposed rulemaking under the Digital Financial Assets Law (DFAL). The group discusses various aspects of the new cryptocurrency licensing regime, including licensure exemptions...

In the latest episode of Payments Pros , hosts Keith Barnett and Carlin McCrory discuss a significant Consumer Financial Protection Bureau (CFPB) enforcement action against Global Tel Link Corporation (GTL), issued on November 14. This action resulted in a consent order addressing chargebacks, alternate payment channel fees, and handling of inactive accounts. Hosted by Simplecast, an AdsWizz compa...

In the latest episode of Payments Pros, host Carlin McCrory is joined by Jason Cover to discuss the role of artificial intelligence (AI) in the payments industry. They define AI and generative AI, highlighting its capabilities in generating text, images, and other data. Jason outlines four key considerations for using AI: ensuring data quality, adhering to applicable laws, understanding AI operati...

In the latest episode of Payments Pros, hosts Carlin McCrory and Keith Barnett are joined by James Stevens to discuss recent enforcement actions in the banking as a service (BaaS) space. They delve into regulatory trends, consent orders, and future anticipated regulatory scrutiny. James explains the concept of BaaS, highlighting the regulatory scrutiny it faces due to its rapid growth and complexi...

In this episode of Payments Pros , host Josh McBeain is joined by Caleb Rosenberg, a member of the firm's Consumer Financial Services practice group, to discuss the complexities of business-to-business payments and the increasing state law requirements associated with them. Josh and Caleb explore the differences between merchant cash advances (MCAs) and factoring, noting that factoring involves th...

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 e...

In this episode of Payments Pros , host Keith Barnett reviews state legislative actions in 2024 related to payments, focusing on the Money Transmission Modernization Act (MTMA), earned wage access (EWA), and peer-to-peer payments. Keith discusses the MTMA, a model law aimed at standardizing state money transmitter laws. Seventeen states considered the MTMA in 2024, with eight states passing it in...

In this special crossover episode of Payments Pros and The Consumer Finance Podcast, Carlin McCrory, Keith Barnett, and Chris Willis are joined by Jason Cover and Mark Furletti to discuss the Consumer Financial Protection Bureau's (CFPB) proposed interpretive rule on earned wage access (EWA) products. EWA allows employees to access wages they have earned before payday, with two main models: employ...

In this special crossover episode of the Payments Pros Podcast and The Consumer Finance Podcast , Josh McBeain and Chris Willis are joined by colleagues Mark Furletti and Jason Cover to delve into the CFPB's Payday Loan Rule, which is set to become effective again following a Supreme Court decision. The discussion unpacks the broad scope of the rule, extending beyond traditional payday loans to in...

In this episode of Payments Pros , Keith Barnett is joined by Eli Polanco, founder and CEO of Nivelo, to discuss critical issues in payroll processing. They highlight the significant impact that the Money Transmitter Modernization Act (MTMA) will have on payroll processors in the states that have adopted the portion of the MTMA requiring payroll processors to obtain money transmitter licenses. Eli...

In this special crossover episode of The Consumer Finance Podcast and Payments Pros Podcast , Chris Willis and Josh McBeain interview two colleagues who delve into the Consumer Financial Protection Bureau's (CFPB) recent interpretive rule that classifies buy now, pay later (BNPL) transactions as credit cards. Mark Furletti and Jason Cover explore the implications of this rule under Regulation Z, i...

In this episode of Payments Pros , host Keith Barnett discusses the Federal Trade Commission's (FTC) lawsuit and $10 million settlement against the payment facilitator, BlueSnap. On May 1, the FTC filed a complaint alleging that BlueSnap and its executives aided and abetted a debt relief service provider's violations of the Telemarketing Sales Rule, along with violating Section 5 of the FTC Act. K...

In this episode of Payments Pros, Carlin McCrory is joined by Nathan Ottinger, president of Georgia Banking Company's Payments and Technology Banking Group. They delve into the current state of the payments marketplace, characterized by heightened regulatory scrutiny and rapid innovation. Nathan underscores the importance of well-documented risk management strategies for financial institutions and...

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...

In the final episode of the Payments Pros special two-part series, Jordan Bennett, Nacha's senior director of network risk management, joins Keith and Carlin to discuss the new rules regarding fraud monitoring. Fraud Monitoring Phase 1 will become effective on March 20, 2026, and Phase 2 on June 19, 2026. These rules require all nonconsumer originators, ODFIs, third-party service providers, and th...