AG Weiser discusses the areas of consumer financial services that are a current focus of his office’s efforts. After discussing the role of the newly-created Office of Financial Empowerment in addressing the needs of unbanked consumers, AG Weiser discusses his office’s activities concerning deceptive fees (including the types of fees of primary concern and the requirements of Colorado’s new automatic renewal law), robocalls, and student loans.  AG Weiser also shares his office’s approach to innovation and privacy issues (including the timetable for rulemaking under Colorado’s new privacy law) and offers his suggestions for steps companies can take to reduce their compliance risk.

Matt Morr, a partner in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation.

With ALI’s members poised to approve the current draft of the new Restatement, providers need to understand the Restatement’s impact on their consumer agreements, particularly those entered into online. After reviewing the rationale for the new Restatement and ALI’s approach to developing the rules it contains, we look at the issues covered by each section, such as the rules that deal with assent to contract terms, change in terms, unconscionability, and deception. We also discuss how businesses can use the Restatement to their benefit and ALI’s next steps for finalizing the draft.

Alan Kaplinsky, Ballard Spahr Senior Counsel, leads the conversation.

We first review the scope of the CFPB’s supervisory authority granted by Dodd-Frank and the source of its authority to supervise nonbanks that present risks to consumers. We then discuss how we expect the CFPB to use its risk-based authority, including the types of products it may target and its decision to make public the identities nonbanks. We also look at the practical impact of CFPB supervision for targeted nonbanks and what steps companies can take both to avoid becoming a CFPB target and to prepare for the possibility of a CFPB examination.  Finally, we consider how the CFPB’s action could impact the approach of state regulators to nonbank providers of alternative credit products.

John Grugan, a partner in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation, joined by Michael Gordon and Lisa Lanham, partners in the Group.

We discuss the industries and practices that have been the subject of recent FTC enforcement focus, including: marketing, servicing, and collection practices involving small business financing such as merchant cash advances; auto add-on product sales practices; product endorsements and reviews; dark patterns; marketing practices of for-profit schools; lead generation; and COVID fraud. We also discuss the role of the FTC’s Holder Rule in consumer transactions, the impact of the SCOTUS AMG Management decision on FTC enforcement strategy, including the use of Notices of Penalty Offenses, and likely key agenda items under FTC Chair Lina Khan.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

We discuss the growing trends in privacy litigation, particularly litigation targeting company practices regarding the sharing and sale of consumer personal data, plaintiffs’ liability theories, including the right of publicity, and best practices for companies to consider in order to reduce the risk of privacy claims.

Aliza Karetnick, a Ballard Spahr partner and Leader of the firm’s cross-practice Consumer Products and Retail Team, leads the conversation, joined by Phil Yannella, a Ballard partner and Practice Leader of the firm’s Privacy and Data Security Group, and Greg Szewczyk, a Ballard partner and member of the firm’s Privacy and Data Security Group.

We first look at NCLC’s legislative priorities, which include a 36% national interest rate cap and credit reporting reform, and the prospects for Congressional action. Ms. Saunders then provides NCLC’s perspective on areas of potential CFPB regulatory action including overdraft and other fees labeled “junk fees” by the CFPB, earned wage access programs, buy-now-pay later products, income share agreements, the use of artificial intelligence in underwriting and collections, fraud in peer-to-peer payment services, the use of unfairness to challenge non-credit discrimination, and mandatory arbitration.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

The CFPB recently announced that it is updating its exam manual to direct its examiners to consider discriminatory conduct an “unfair” act or practice represents a significant expansion of its UDAAP authority. We discuss: the CFPB’s legal theory; types of products/services/bases for discrimination the CFPB could reach using unfairness and role of disparate impact analysis; what manual updates tell examiners to ask about and look at; implications for entities the CFPB does not supervise or have jurisdiction over; likely legal challenges to the Bureau’s theory; and how companies can prepare.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by John Culhane and Ron Vaske, partners in the firm’s Consumer Financial Services Group, and Heather Klein, Of Counsel in the Group.

Our special guests are the authors of a 259-page study, “Reboot Required: The Civil Justice System Has Crashed,” which makes the case that the civil justice system has been corrupted by corporations and no longer protects average Americans from corporate abuse. The study is accompanied by a draft model law intended to create new rights and protections for consumers. The authors explain the basis for their view that fundamental change is needed, including the elimination of a company’s ability to assert a “duty to read” defense or use mandatory arbitration provisions in consumer contracts. They also discuss their plans for promoting the model law.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

Professor Peterson, who served at the CFPB under former Director Cordray, shares his perspective on the CFPB’s publicly-announced enforcement activities and initiatives under Director Chopra and what they might signal for future enforcement and supervisory activities. The matters discussed include the UDAAP implications of the CFPB’s focus on pricing in its enforcement action against JPay, the CFPB’s use of UDAAP to challenge discrimination not involving credit, and the CFPB’s junk fees initiative and approach to technology. We also discuss the current status of federal and state rate cap legislation and “true lender” challenges to bank/nonbank partnerships.

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation.

Although the decision narrowed the technology covered by the TCPA’s automatic telephone dialing system definition, the TCPA continues to be very dangerous. We first discuss the plaintiff bar’s case strategy in response to the decision and the decision’s implications for defendants’ case strategy. We then look at the increasing volume of cases alleging violations of the TCPA provisions on calls using an artificial or prerecorded voice and do-not-call, identify the most significant remaining TCPA risks companies face, and offer thoughts on steps companies can take to reduce TCPA risk.

Dan McKenna, Co-Chair of Ballard Spahr’s Consumer Financial Services Group, moderates the conversation, joined by Matt Morr, a partner in the Group.