The Consumer Finance Podcast

Please join Troutman Pepper Partner Chris Willis for a solo episode as he discusses new trends in CFPB information gathering, specifically Dodd-Frank Act Section 1022 found in the rulemaking and market monitoring section of the CFPB’s authority. Here, Chris examines how the CFPB can request and require certain information from market participants, noting the significant increase in recent CFPB Sec...

Most consumers have signed up for subscriptions, automatic deliveries, or free trials that convert into a paid subscription. In this episode of The Crypto Exchange , Carlin McCrory welcomes colleagues Mark Furletti and Jill Dolan to discuss legal and regulatory developments related to autorenewals — the recurring payments for these subscriptions. Our panel examines state and federal laws pertainin...

Please join Troutman Pepper Partner Chris Willis and his colleague Consumer Financial Services Partner Lori Sommerfield as they discuss the implications of the recent Illinois federal court decision, dismissing the CFPB's first-ever redlining case against Townstone Financial, Inc., which alleged that Townstone engaged in redlining practices by discouraging applications under the Equal Credit Oppor...

Please join Troutman Pepper Partner Chris Willis for a solo episode as he shares his thoughts about the recent lawsuit between the CFPB and the New York State Office of the Attorney General against a subprime auto finance company. He covers some of the unusual claims made in the case, flaws he sees in the asserted legal theories, and potential implications for the rest of the auto finance industry...

Please join Consumer Financial Services Partner Chris Willis in this inaugural crossover episode with Partner Dave Gettings of FCRA Focus in welcoming their guests and fellow Partners Cindy Hanson and David Anthony. Dave, Chris, Cindy, and David unite to discuss the 2022 year in review of the Fair Credit Reporting Act and a look ahead for the next year. Cindy Hanson focuses her practice on class-a...

Please join Troutman Pepper Partner Chris Willis and his colleagues Associates Caleb Rosenberg and Josh McBeain as they discuss commercial financing regulatory developments, specifically what is happening in both legislatures and regulatory agencies to extend consumer-like protections to business borrowers. Caleb Rosenberg focuses his practice on helping banks, fintech companies, finance companies...

Please join Troutman Pepper Partner Chris Willis for this solo episode as he reviews the settlement between the U.S. Department of Justice (DOJ) and Meta Platforms, Inc. related to online targeted advertising. Chris digs into DOJ's complaint, alleging that Meta allowed its advertisers to use user's characteristics, such as race, color, religion, sex, and more, to determine which Facebook users wou...

Please join Consumer Financial Services Partner Chris Willis and his colleague Consumer Financial Services Partner David Anthony as they discuss the firm's seventh annual edition of the Consumer Financial Services Year in Review and a Look Ahead , which offers a 2022 review of regulatory and legal developments in the consumer financial services industry. In his national litigation practice, David...

Please join Consumer Financial Services Partner Chris Willis and his colleagues Deborah Kovsky and Tom Tilton as they discuss new pending legislation — the Consumer Bankruptcy Reform Act — as well as the general, overall legislative and financial services outlook in the next Congress. Finance and Restructuring Partner Deb Kovsky represents secured and unsecured creditors and other key stakeholders...

Please join Consumer Financial Services Partner Chris Willis and his colleagues Privacy + Cyber Associate Sadia Mirza and Privacy + Cyber Partner Kamran Salour as they discuss phishing. Kamran and Sadia break down what phishing is, the major security risk it poses for companies, and how to handle a phishing attack. Sadia Mirza has extensive experience in data security and privacy matters. When cou...

Please join Consumer Financial Services Partner Chris Willis and his colleagues Jeremy Rosenblum and Tony Kaye as they discuss the phenomenon of mass arbitrations, which pose increasing risk to the consumer finance industry. The partners use their knowledge to explain what mass arbitration is and describe prophylactic measures companies should take.  Jeremy is a partner in the Consumer Financial S...

Please join Consumer Financial Services Partner Chris Willis and his guest and colleague Tony Kaye as they discuss the recently enacted California Senate Bill 1311 or Military and Veteran Consumer Protection Act of 2022. Effective January 1, 2023, the new bill — drawn up by the California attorney general’s office — intends to enhance consumer protections for military service members, directly aff...

Please join Consumer Financial Services Partner Chris Willis and his colleagues Stefanie Jackman and Chris Carlson as they discuss the recent action by the Massachusetts attorney general (AG) involving automobile dealer pricing discrimination. After a Massachusetts-based automobile dealer allegedly engaged in discriminatory pricing toward Black and Hispanic automobile customers via additional char...

Please join Troutman Pepper Partner Chris Willis and his guest and colleague Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent consent order with Passport Auto Group. The FTC alleged Passport violated the law in three areas: Passport had a practice of marking up fees from the advertised price; Passport had a discretionary markup practice that caused Black and Latino custome...

Please join Consumer Financial Services Partner Chris Willis and his colleague and fellow Partner Jordi de Llano as they discuss recent developments in anti-money laundering. In this episode, the attorneys examine FinCen's September 2022 final rule, which implements guidance on new beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA), as well as take a de...

Please join Consumer Financial Services Partner Chris Willis and his colleague Partner Misha Tseytlin to discuss the Fifth Circuit's decision in Community Financial Services Association of America, Ltd. v. Consumer Financial Protection Bureau , what may happen next and when, and the ruling's practical impact on the consumer finance industry. As noted in our October 20 blog about the CFSA case, a F...

Please join Consumer Financial Services Partner Chris Willis and his colleagues and fellow Partners Mary Zinsner and Susan Flint as they discuss the current landscape of wire fraud scams in the financial services industry. Topics include: Wire fraud scams, such as Business Email Compromise (BEC) fraud, and the potential liability of banks; How banks should analyze wire fraud claims in the pre-liti...

Please join Consumer Financial Services Partner Chris Willis and his colleagues Ron Raether and Kim Phan, partners in our Privacy + Cyber Practice Group, as they discuss recent privacy and data security updates in the consumer financial services industry. Topics include: The CFPB's and FTC's regulatory stance on privacy and data security issues; The current landscape of privacy legislation; and Em...

Please join Troutman Pepper Partner Chris Willis and his guest and fellow Partner Glen Trudel as they discuss credit card rewards and loyalty programs and the co-brand relationship. Topics include: The importance of the co-brand credit card pairing; Issues, concerns, or risks that both the merchant and the card issuer encounter in co-brand rewards programs; and Current trends in the marketplace fo...

Please join Troutman Pepper Partner Chris Willis and his guests and colleagues Alan Wingfield and Brooke Conkle as they discuss the Federal Trade Commission's (FTC) recent Notice of Proposed Rulemaking governing voluntary products in automobile finance transactions. During the podcast, they examine the requirements imposed on both advertising practices and the sales process and what it means for t...

Please join Consumer Financial Services Partner Stefanie Jackman and her guests and colleagues James Trefil and Jonathan Floyd in the fourth and final episode of a special four-part series on recent developments at the Consumer Financial Protection Bureau. In this episode, topics include debt collection and convenience fees, trends in Regulation F litigation, and predictions in the collections wor...

Please join Consumer Financial Services Partner Ethan Ostroff and his guests and colleagues Alan Wingfield, Chris Capurso, and Derek Schwahn in the third episode of a special four-part series on recent developments with the Consumer Financial Protection Bureau (CFPB). In this episode, topics include: The CFPB's recent focus on the furnishers' obligation to respond to consumer disputes; Steps furni...

Please join Consumer Financial Services Partner Kim Phan and her guests and colleagues Alan Wingfield and David Anthony in the second episode of a special four-part series on recent developments with the Consumer Financial Protection Bureau (CFPB). In this episode, topics include the CFPB's position on preemption issues, Fair Credit Reporting Act (FCRA) state law infringement, and the CFPB's gener...

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Ashley Taylor and Stefanie Jackman in the first episode of a special four-part series about recent developments with the Consumer Financial Protection Bureau (CFPB). In this episode, topics discussed include: Historical background about the cooperation between the CFPB and state attorneys general;  Efforts b...

Please join Consumer Financial Services Partner Chris Willis and fellow Partners Lori Sommerfield and Kim Phan, along with special guest Matt Ater from Vispero, as they discuss recent developments in website accessibility governing public accommodations under Title III of the Americans with Disabilities Act (ADA). Topics include: Current litigation trends, including the recent increase in ADA webs...