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Consumer Finance Monitor

Ballard Spahr LLP

2
Followers
8
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Consumer Finance Monitor

Consumer Finance Monitor

Ballard Spahr LLP

2
Followers
8
Plays
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About Us

The Consumer Financial Services industry is changing quickly. This weekly podcast from national law firm Ballard Spahr focuses on the consumer finance issues that matter most, from new product development and emerging technologies to regulatory compliance and enforcement and the ramifications of private litigation. Our legal team—recognized as one of the industry's finest— will help you make sense of breaking developments, avoid risk, and make the most of opportunity.

Latest Episodes

CARES Act Economic Impact Payments for Individuals and Payment Protection Program Loans for Small Businesses: Are They Subject to Garnishment or Setoff?

We look at the impact of federal and state law including relevant CARES Act provisions, state garnishment directives, and federal preemption, identify issues banks should consider in handling garnishments or exercising setoff rights, and offer suggestions for mitigation measures banks can take as they decide how to address the challenges in this area.

34 MIN5 d ago
Comments
CARES Act Economic Impact Payments for Individuals and Payment Protection Program Loans for Small Businesses: Are They Subject to Garnishment or Setoff?

Community Reinvestment Act Reform: How Did We Get Here and Where Are We Going?

We are joined by Kenneth Thomas, widely-viewed as the nation’s leading CRA expert and has advised regulators on CRA reform. After reviewing CRA’s origins and previous reforms, Ken shares his views on the current OCC/FDIC proposed changes, including why reform is a White House priority, differences in perspectives among CRA regulators, the proposal’s deposit-based approach to assessment areas and performance standards for larger banks, using a phased approach to reform, and the election’s impact on r

50 MIN1 w ago
Comments
Community Reinvestment Act Reform: How Did We Get Here and Where Are We Going?

Strategic and Other Considerations for Credit Card Offerings by Medium and Small Financial Institutions

Increasing regulatory, competitive and economic challenges are causing a new focus on credit cards. Bob Curry of Bassett Capital Group, an expert on portfolio management/acquisition/ divestiture joins for a discussion of the types of business structures available to institutions seeking to offer credit cards for the first time and associated issues. We also look at issues institutions now offering credit cards should consider in moving forward during an economic downturn and heightened competition.

25 MIN2 w ago
Comments
Strategic and Other Considerations for Credit Card Offerings by Medium and Small Financial Institutions

Staying Ahead of UDAP and Fair Lending Risk to Consumer Financial Services Providers Arising From the COVID-19 Pandemic

After looking at how the 2008 financial crisis and its aftermath might inform regulators’ response to the pandemic, we discuss how collections, loss mitigation/hardship programs, and originations of existing products and new programs designed to assist pandemic-impacted consumers (including changes to credit risk/fraud models to address the pandemic’s effects) can create UDAP and fair lending risk.

29 MIN3 w ago
Comments
Staying Ahead of UDAP and Fair Lending Risk to Consumer Financial Services Providers Arising From the COVID-19 Pandemic

A Close Look at the CFPB’s Supplemental Proposal Requiring Disclosures by Debt Collectors for Time-Barred Debts

Our discussion examines a range of issues, including how the wording of the model forms could create consumer confusion, challenges in determining whether a debt is time-barred, and questions arising from use of a “know or reason to know” that a debt is time-barred standard to trigger disclosures. We also look at industry’s reaction and how the proposal’s finalization is likely to fit with the CFPB's issuance of a final larger debt collection rule.

22 MINAPR 23
Comments
A Close Look at the CFPB’s Supplemental Proposal Requiring Disclosures by Debt Collectors for Time-Barred Debts

The COVID-19 Crisis: A Look at the Consumer Financial Regulatory and Litigation Fallout

We are joined by Richard Cordray, former CFPB Director, and John Roddy, prominent plaintiffs’ class action lawyer, for a discussion of regulatory and litigation risks the crisis is expected to create for the consumer financial services industry. Topics include: industry practices that could trigger regulators’ scrutiny; operational areas impacted by working remotely that create compliance risks; fair lending issues arising from loan modifications/forbearances; state authority to change credit terms.

71 MINAPR 16
Comments
The COVID-19 Crisis: A Look at the Consumer Financial Regulatory and Litigation Fallout

Dodd-Frank Act Section 1071 Rulemaking: A Close Look at the Settlement in the Lawsuit Against the CFPB

We are joined by Nitin Shah of Democracy Forward, attorney for the plaintiffs in the lawsuit brought to compel the CFPB to issue rules implementing Sec. 1071 which requires financial institutions to collect and report race, ethnicity, and other data in connection with credit applications made by women-or minority-owned and small businesses. We discuss the lawsuit’s basis, the rulemaking deadlines in the settlement and expected rulemaking timeline, and substantive issues the rules are likely to address.

27 MINAPR 9
Comments
Dodd-Frank Act Section 1071 Rulemaking: A Close Look at the Settlement in the Lawsuit Against the CFPB

A Look at Two Recent OCC Bank Secrecy Act/Anti-Money Laundering Consent Orders: Lessons Learned

In our examination of two recent OCC BSA/AML consent orders, one with a bank and another with an in-house professional, we review the OCC’s allegations underlying the orders and how the OCC focuses on the core pillars of BSA/AML compliance when choosing to pursue enforcement. Topics discussed include takeaways for boards and management of financial institutions when accepting higher-risk customers, AML liability risk for individuals, and considerations in using third-party AML compliance advisors.

34 MINAPR 2
Comments
A Look at Two Recent OCC Bank Secrecy Act/Anti-Money Laundering Consent Orders: Lessons Learned

A Conversation with Former CFPB Director Richard Cordray

We are joined by Richard Cordray whose book about his CFPB tenure, Watchdog, was recently-released. Among other topics, Mr. Cordray shares what he considers to be his key successes and disappointments as Director, describes his relationship with the Trump Administration, responds to criticism of his use of the CFPB’s enforcement authority, offers his prediction for how SCOTUS will rule in Seila Law, and discusses the abusiveness standard and creation of state mini-CFPBs.

54 MINMAR 26
Comments
A Conversation with Former CFPB Director Richard Cordray

A Look at how the Latest Modifications to the Proposed CA Consumer Privacy Act Regulations Impact the Debt Industry

We discuss the modifications with Lauren Valenzuela, Corporate Counsel for Performant Financial, a provider of technology-based solutions to assist debt recovery. Our topics relevant to the debt industry include the potential impact for debt collectors/other service providers indirectly collecting consumer data; changes for processing household requests; availability of GLBA/other exemptions; issues for users of AI; relationship of CCPA opt-outs and FDCPA C&D requests; areas needing more clarification.

31 MINMAR 19
Comments
A Look at how the Latest Modifications to the Proposed CA Consumer Privacy Act Regulations Impact the Debt Industry

Latest Episodes

CARES Act Economic Impact Payments for Individuals and Payment Protection Program Loans for Small Businesses: Are They Subject to Garnishment or Setoff?

We look at the impact of federal and state law including relevant CARES Act provisions, state garnishment directives, and federal preemption, identify issues banks should consider in handling garnishments or exercising setoff rights, and offer suggestions for mitigation measures banks can take as they decide how to address the challenges in this area.

34 MIN5 d ago
Comments
CARES Act Economic Impact Payments for Individuals and Payment Protection Program Loans for Small Businesses: Are They Subject to Garnishment or Setoff?

Community Reinvestment Act Reform: How Did We Get Here and Where Are We Going?

We are joined by Kenneth Thomas, widely-viewed as the nation’s leading CRA expert and has advised regulators on CRA reform. After reviewing CRA’s origins and previous reforms, Ken shares his views on the current OCC/FDIC proposed changes, including why reform is a White House priority, differences in perspectives among CRA regulators, the proposal’s deposit-based approach to assessment areas and performance standards for larger banks, using a phased approach to reform, and the election’s impact on r

50 MIN1 w ago
Comments
Community Reinvestment Act Reform: How Did We Get Here and Where Are We Going?

Strategic and Other Considerations for Credit Card Offerings by Medium and Small Financial Institutions

Increasing regulatory, competitive and economic challenges are causing a new focus on credit cards. Bob Curry of Bassett Capital Group, an expert on portfolio management/acquisition/ divestiture joins for a discussion of the types of business structures available to institutions seeking to offer credit cards for the first time and associated issues. We also look at issues institutions now offering credit cards should consider in moving forward during an economic downturn and heightened competition.

25 MIN2 w ago
Comments
Strategic and Other Considerations for Credit Card Offerings by Medium and Small Financial Institutions

Staying Ahead of UDAP and Fair Lending Risk to Consumer Financial Services Providers Arising From the COVID-19 Pandemic

After looking at how the 2008 financial crisis and its aftermath might inform regulators’ response to the pandemic, we discuss how collections, loss mitigation/hardship programs, and originations of existing products and new programs designed to assist pandemic-impacted consumers (including changes to credit risk/fraud models to address the pandemic’s effects) can create UDAP and fair lending risk.

29 MIN3 w ago
Comments
Staying Ahead of UDAP and Fair Lending Risk to Consumer Financial Services Providers Arising From the COVID-19 Pandemic

A Close Look at the CFPB’s Supplemental Proposal Requiring Disclosures by Debt Collectors for Time-Barred Debts

Our discussion examines a range of issues, including how the wording of the model forms could create consumer confusion, challenges in determining whether a debt is time-barred, and questions arising from use of a “know or reason to know” that a debt is time-barred standard to trigger disclosures. We also look at industry’s reaction and how the proposal’s finalization is likely to fit with the CFPB's issuance of a final larger debt collection rule.

22 MINAPR 23
Comments
A Close Look at the CFPB’s Supplemental Proposal Requiring Disclosures by Debt Collectors for Time-Barred Debts

The COVID-19 Crisis: A Look at the Consumer Financial Regulatory and Litigation Fallout

We are joined by Richard Cordray, former CFPB Director, and John Roddy, prominent plaintiffs’ class action lawyer, for a discussion of regulatory and litigation risks the crisis is expected to create for the consumer financial services industry. Topics include: industry practices that could trigger regulators’ scrutiny; operational areas impacted by working remotely that create compliance risks; fair lending issues arising from loan modifications/forbearances; state authority to change credit terms.

71 MINAPR 16
Comments
The COVID-19 Crisis: A Look at the Consumer Financial Regulatory and Litigation Fallout

Dodd-Frank Act Section 1071 Rulemaking: A Close Look at the Settlement in the Lawsuit Against the CFPB

We are joined by Nitin Shah of Democracy Forward, attorney for the plaintiffs in the lawsuit brought to compel the CFPB to issue rules implementing Sec. 1071 which requires financial institutions to collect and report race, ethnicity, and other data in connection with credit applications made by women-or minority-owned and small businesses. We discuss the lawsuit’s basis, the rulemaking deadlines in the settlement and expected rulemaking timeline, and substantive issues the rules are likely to address.

27 MINAPR 9
Comments
Dodd-Frank Act Section 1071 Rulemaking: A Close Look at the Settlement in the Lawsuit Against the CFPB

A Look at Two Recent OCC Bank Secrecy Act/Anti-Money Laundering Consent Orders: Lessons Learned

In our examination of two recent OCC BSA/AML consent orders, one with a bank and another with an in-house professional, we review the OCC’s allegations underlying the orders and how the OCC focuses on the core pillars of BSA/AML compliance when choosing to pursue enforcement. Topics discussed include takeaways for boards and management of financial institutions when accepting higher-risk customers, AML liability risk for individuals, and considerations in using third-party AML compliance advisors.

34 MINAPR 2
Comments
A Look at Two Recent OCC Bank Secrecy Act/Anti-Money Laundering Consent Orders: Lessons Learned

A Conversation with Former CFPB Director Richard Cordray

We are joined by Richard Cordray whose book about his CFPB tenure, Watchdog, was recently-released. Among other topics, Mr. Cordray shares what he considers to be his key successes and disappointments as Director, describes his relationship with the Trump Administration, responds to criticism of his use of the CFPB’s enforcement authority, offers his prediction for how SCOTUS will rule in Seila Law, and discusses the abusiveness standard and creation of state mini-CFPBs.

54 MINMAR 26
Comments
A Conversation with Former CFPB Director Richard Cordray

A Look at how the Latest Modifications to the Proposed CA Consumer Privacy Act Regulations Impact the Debt Industry

We discuss the modifications with Lauren Valenzuela, Corporate Counsel for Performant Financial, a provider of technology-based solutions to assist debt recovery. Our topics relevant to the debt industry include the potential impact for debt collectors/other service providers indirectly collecting consumer data; changes for processing household requests; availability of GLBA/other exemptions; issues for users of AI; relationship of CCPA opt-outs and FDCPA C&D requests; areas needing more clarification.

31 MINMAR 19
Comments
A Look at how the Latest Modifications to the Proposed CA Consumer Privacy Act Regulations Impact the Debt Industry
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