The Consumer Financial Services industry is changing quickly. This weekly podcast 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.




Episode 13 - Anti-Money Laundering and Bank Secrecy Act Challenges

AML/BSA compliance continues to be the focus of rigorous enforcement on both the federal and state levels. In this episode, we look at the conduct for which financial institutions have been faulted in recent enforcement actions, flag other missteps that can trigger regulatory scrutiny, and offer practical tips for avoiding regulatory criticism and reducing enforcement risk.

Episode 12 – Arizona’s Fintech Sandbox and Facilitating Innovation

We talk with Evan Daniels, Fintech Counsel in the Arizona Attorney General's office, about Arizona's first-in-the-nation Fintech sandbox and how it is being used to drive innovation in consumer financial services. We also discuss how the CFPB's current push to encourage innovation interacts with state efforts, such as those in Arizona.

Episode 11 - Update On State Protections For Military Servicemembers

In this week’s episode, we discuss recent state legislative and enforcement developments involving state analogues to the federal Servicemembers Civil Relief Act. We review state efforts to increase the duration of federal protections, expand the groups entitled to them, and extend similar protections to additional products and services.

EPISODE 10 - MILITARY LENDING DEVELOPMENTS

In this episode, we discuss recent enforcement activity under the Military Lending Act and the Servicemembers Civil Relief Act, as well as takeaways about compliance. We also review the CFPB’s controversial decision to no longer conduct exams for MLA compliance, look at the legal basis for the decision, and analyze the arguments made by critics.

Episode 9 - Update On The CFPB’s Small Dollar Lending Rule

With the Rule’s August 19, 2019 compliance date drawing nearer, industry anxiety is growing as to the CFPB’s plans for delaying the Rule's compliance date and what changes will be proposed. In this episode, we review what the Rule's ability to pay and repayment provisions would require and why those provisions are problematic. We also discuss changes we expect the CFPB to propose, developments in the lawsuit challenging the Rule, and steps companies can take in advance of the compliance date.

Episode 8 - Fair Lending And Website Accessibility Developments

The pace of the CFPB’s fair lending activities has slowed under its new leadership, but significant developments are happening elsewhere. In this episode, we discuss several of those developments and their implications. We’ll talk about state fair lending updates involving auto finance, a private redlining lawsuit, and the FDIC’s report on the use of digital footprint data for credit underwriting. Finally, we discuss a letter issued by the DOJ to a congressman regarding ADA website accessibility standards.

Episode 7 -Telephone Consumer Protection Act Developments

TCPA compliance continues to present challenges to the financial services industry. In this podcast, we discuss important recent court decisions dealing with the TCPA’s autodialer definition and what the FCC is doing to provide further guidance to industry participants. You’ll also hear what new FCC guidance might say, how it could impact future court decisions, and strategies for defendants in TCPA litigation to consider while awaiting new FCC guidance.

Episode 6 -Debt Collection Developments

Debt collection continues to be one of the most active areas in consumer finance law. Ballard Spahr attorneys will discuss the challenges facing the debt collection industry in private litigation and how to address them. We’ll talk about how new technology is changing the industry, assess the effect of the CFPB’s new leadership on debt collection enforcement, and offer thoughts on whether the Bureau’s expected rulemaking will provide relief from current legal uncertainties.

Episode 5 - The CFPB Under New Leadership: What Has Changed?

In this episode, Alan Kaplinsky and Chris Willis discuss how the CFPB has changed under Acting Director Mick Mulvaney’s leadership and offer their predictions for future developments. What effect has Mr. Mulvaney had on day-to-day supervision and enforcement efforts, and how do the CFPB’s public statements line up with its actual practices? We will examine the Bureau’s current approach to UDAAP violations and military lending and discuss the volume and nature of current enforcement activity. Alan and Chris will report on the status of rulemaking initiatives and share their expectations for future rulemaking, particularly the Bureau’s payday lending and debt collection rules. We’ll end the podcast by sharing our observations on the current state of compliance and its effect on decision-making by consumer financial services providers.

Episode 4 - The CFPB’s First Enforcement Action Under Acting Director Mulvaney and Proposed Amendments to the CFPB’s Trial Disclosure Policy 

Ballard Spahr partners Alan Kaplinsky and James Kim discuss the implications of the CFPB’s first enforcement action under Acting Director Mulvaney and analyze the amendments proposed by the CFPB to its trial disclosure policy (TDP). James is a former CFPB Senior Enforcement Attorney. He provides background on the prior litigation between the CFPB and the target of the enforcement action and reviews the allegations in the CFPB’s complaint. He also provides observations on the action’s significance for the industry it targets and for the CFPB’s approach to UDAAP enforcement actions under its new leadership and shares his expectations for how the action is likely to proceed. With regard to the proposed TDP amendments, James discusses the procedural and substantive changes contained in the proposal and how such changes would address the current policy’s shortcomings. He also analyzes the effect that a trial disclosure waiver obtained under the amended policy would have on a company’s potential liability in federal and state enforcement actions and private litigation and discusses the proposal’s state sandbox option, the availability of waivers to companies offering traditional consumer financial products or services, and the relationship between the TDP and the CFPB’s no-action letter policy.

Episode 3 - Recent Developments in California Law


Ballard Spahr attorneys Chris Willis, Scott Pearson, and Taylor Steinbacher discuss recent noteworthy developments in California law. Chris, who chairs Ballard’s Consumer Financial Services Litigation Group, and Scott, a partner in the Consumer Financial Services group, discuss the recently decided California Supreme Court De La Torre case, which makes licensed lenders vulnerable to claims that high-interest rate loans over $2,500 may be unconscionable. Chris and Taylor, an associate in the Consumer Financial Services group, discuss the California Consumer Privacy Act of 2018, a statute giving substantial new privacy rights to California consumers. Finally, Scott and Chris discuss reactions to, and the effects of, the 2017 California Supreme Court McGill case. That case limits the ability to enforce arbitration clauses in cases requesting public injunctive relief.

Episode 2 - CFPB Summer 2018 Supervisory Highlights


Ballard Spahr attorneys Bo Ranney, Chris Willis, and Reid Herlihy discuss the significant takeaways from the CFPB’s new report—the first edition of Supervisory Highlights issued under Acting Director Mick Mulvaney. Mr. Ranney, a former CFPB examiner, and Mr. Willis, who chairs Ballard Spahr’s Consumer Financial Services Litigation Group, discuss the CFPB’s findings regarding debt collection, payday loans, automobile servicing, and small business lending. They also identify potential areas where the CFPB might focus in future examinations and offer recommendations for addressing the operational concerns raised by the report. Mr. Herlihy, a partner in Ballard Spahr’s Mortgage Banking Group, discusses the high-priority, mortgage-related topics identified in the Bureau’s report, lessons the mortgage industry can learn from the Bureau’s findings, and how the CFPB’s approach in this new report differs from its approach under prior leadership.

Episode 1 - Recent CFPB Developments


Ballard Spahr partners Alan Kaplinsky and Chris Willis discuss:

  • The status of pending cases involving a challenge to the Consumer Financial Protection Bureau’s constitutionality and the litigation’s implications
  • President Donald Trump's nomination of Kathy Kraninger to serve as CFPB Director, its significance, and the likely timing and prospects for Senate confirmation
  • Recent statements by HUD and the CFPB signaling an intent to revisit the disparate impact theory, the implications of these efforts for fair lending, and related recent CFPB supervisory developments