In this episode of The Consumer Finance Podcast, host Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is joined by colleagues Mark Furletti, Stephen Piepgrass, Jesse Silverman, and James Stevens. Together, they delve into the anticipated regulatory landscape and legal needs for financial services companies under the upcoming Trump administration. The discussion covers the potential resurgence of new financial products, the impact on M&A activity, the role of state attorneys general, and the future of bank-fintech partnerships. Tune in to gain insights on how to strategically navigate the evolving regulatory environment and leverage opportunities in the financial sector.

In this episode of The Consumer Finance Podcast, host Chris Willis is joined by Jesse Silverman and Matt Morris to explore the complexities of the CFPB's nonbank registry rule. This regulation, introduced in 2024, has generated significant confusion due to its intricate requirements. They discuss the rule's purpose, its impact on nonbank financial services, and the detailed steps companies must take to ensure compliance. Tune in to understand the key definitions, registration deadlines, and the broader implications for the industry.

Join Chris Willis and his colleague Stefanie Jackman as they delve into the recent amendments to New York City's debt collection rules. In this episode of The Consumer Finance Podcast, they discuss the significant changes, including communication restrictions, validation requirements, and the expanded coverage to include creditors. Learn about the implications for both creditors and debt collectors, the enforcement mechanisms, and the ongoing legal challenges. Stay informed and prepared for the April 1, 2025, enforcement date.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partner Kim Phan to discuss the latest cybersecurity guidance from the New York Department of Financial Services (NYDFS) concerning artificial intelligence (AI). Released on October 16, this guidance addresses the growing cybersecurity threats posed by AI and provides insights on how financial institutions can mitigate these risks. Kim and Chris delve into the specifics of the guidance, including the expectations for risk assessments, the importance of monitoring AI usage, and practical steps for enhancing cybersecurity measures. They also highlight the dual perspective of AI risks from both external threat actors and internal vulnerabilities, and discuss the potential benefits of integrating AI into cybersecurity strategies. Tune in to gain a comprehensive understanding of how to navigate these new guidelines and stay ahead in the evolving landscape of cybersecurity.

In this special joint episode of The Consumer Finance Podcast and Moving the Metal, Chris Willis teams up with Brooke Conkle and Chris Capurso, hosts of the Moving the Metal podcast, to discuss the CFPB's recent supervisory highlights on auto-finance and auto-servicing. Joined by Stefanie Jackman, a partner experienced in auto-finance servicing and collections, the team delves into the CFPB’s findings on issues ranging from repossessions and servicing practices to optional products and credit reporting. They explore the implications of these findings and provide insights into the regulatory landscape, emphasizing the importance of compliance and timely remediation. Tune in for an in-depth analysis of the CFPB's focus areas and what they mean for the auto-finance industry.

In this episode of The Consumer Finance Podcast, host Chris Willis introduces the firm's newest partner, Heryka Knoespel. Heryka shares insights into her national litigation practice, focusing on fraud cases involving email and text message compromises. As a native Spanish speaker, she also discusses her role in regulatory compliance for Spanish-language marketing and advertising. Heryka's unique background and experience make her a valuable addition to the Troutman Pepper team. Tune in to learn more about her journey into consumer financial services law and her vision for the future.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner David Anthony and Rami Haddad, deputy general counsel for Compliance, Litigation, and Privacy at PRA Group. The discussion dives into a variety of pressing issues in the consumer finance sector and covers current litigation trends, the impact of the Supreme Court's overruling of Chevron in the Loper Bright case, and the CFPB's new nonbank registry rule. The episode also explores the heightened focus on medical debt collection by the CFPB and its potential implications for the industry. Tune in for expert insights and a comprehensive overview of these critical topics.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner Mark Furletti, and special guest John Sun, CEO and co-founder of SpringLabs. The discussion delves into the transformative possibilities of artificial intelligence (AI) in the financial services sector, and covers the basics of AI, its current applications, and future potential. The conversation highlights how AI, particularly generative pre-trained models, can revolutionize complaint management, enhance regulatory compliance, and improve operational efficiency. Tune in to understand how AI is reshaping the landscape of consumer financial services and what lies ahead.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partners Mark Furletti and Jason Cover to delve into the CFPB's recent interpretive rule that classifies buy now, pay later (BNPL) products as credit cards under Regulation Z. The discussion unpacks the controversy surrounding this rule, the subsequent FAQs released by the CFPB, and the broader implications for the BNPL industry. The episode explores the challenges and ambiguities posed by the rule, potential compliance strategies, and the likelihood of legal challenges. Tune in for an insightful analysis of one of the year's most debated regulatory developments in consumer finance.

In this episode of The Consumer Finance Podcast, Chris Willis delves into the latest annual report from the CFPB's Office of Servicemember Affairs. While the report is ostensibly about issues affecting military personnel, it primarily highlights ongoing challenges in student loan servicing. Chris discusses key findings, including customer service obstacles, errors in income-driven repayment plans, and the contentious practice of transcript withholding. This episode underscores the CFPB's persistent focus on these issues and the implications for the student loan servicing industry. Tune in for a comprehensive analysis and stay informed about the regulatory landscape.