Shows
Payments Pros – The Payments Law Podcast2024 Payments Year in Review: CFPB and FTC Regulatory Trends – Part ThreeIn the third installment of the four-part "Payments Year in Review" series, hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss the Federal Trade Commission's (FTC) actions in 2024 and their expectations for 2025.They begin by examining amendments to the Telemarketing Sales Rule, which now includes inbound calls for technical support services. The discussion then shifts to the FTC's annual report to the Consumer Financial Protection Bureau (CFPB), highlighting enforcement activities in areas such as automobile financing, electronic fund transfers, and deceptive fees. Finally, the co-hosts review the finalized amendments to the Negative Option Rule, which impose stricter...
2025-02-1315 minPayments Pros – The Payments Law Podcast2024 Payments Year in Review: CFPB and FTC Regulatory Trends – Part TwoIn the second installment of a four-part Payments Year in Review series, Keith Barnett and Josh McBeain discuss significant developments in the payments landscape from the Consumer Financial Protection Bureau (CFPB) in 2024 and expectations for 2025.Our co-hosts continue with a discussion of the CFPB's proposed interpretive rule on earned wage access products, highlighting its broad definitions and aggressive stance on fees, which conflict with many state laws.They also discuss significant CFPB rulemakings, including the final credit card late fee rule and the overdraft rule, both of which face legal challenges. Keith and Josh close...
2025-02-0522 minPayments Pros – The Payments Law PodcastThe Evolving Landscape of B2B Payments: Regulatory Trends and Financial Practices ExplainedIn this episode of Payments Pros, host Josh McBeain is joined by Caleb Rosenberg, a member of the firm's Consumer Financial Services practice group, to discuss the complexities of business-to-business payments and the increasing state law requirements associated with them.Josh and Caleb explore the differences between merchant cash advances (MCAs) and factoring, noting that factoring involves the sale of already owed receivables, while MCAs involve the sale of future receivables. They also address the recent surge in state-level regulations, which has led states like California and New York to enact disclosure laws. Additionally, they discuss the...
2024-10-0211 minPayments Pros – The Payments Law PodcastUnderstanding the CFPB's Payday Loan Rule: Implications and ComplianceIn this special crossover episode of the Payments Pros Podcast and The Consumer Finance Podcast, Josh McBeain and Chris Willis are joined by colleagues Mark Furletti and Jason Cover to delve into the CFPB's Payday Loan Rule, which is set to become effective again following a Supreme Court decision. The discussion unpacks the broad scope of the rule, extending beyond traditional payday loans to include various financial products. The episode highlights the complexities of compliance, the nuances of the rule's definitions, and the critical steps lenders must take before the March 30, 2025, compliance deadline. Don't miss this insightful conversation on...
2024-08-0818 min
The Consumer Finance PodcastUnderstanding the CFPB's Payday Loan Rule: Implications and ComplianceIn this special crossover episode of The Consumer Finance Podcast and the Payments Pros Podcast, Chris Willis and Josh McBeain are joined by colleagues Mark Furletti and Jason Cover to delve into the CFPB's Payday Loan Rule, which is set to become effective again following a Supreme Court decision. The discussion unpacks the broad scope of the rule, extending beyond traditional payday loans to include various financial products. The episode highlights the complexities of compliance, the nuances of the rule's definitions, and the critical steps lenders must take before the March 30, 2025, compliance deadline. Don't miss this insightful conversation on...
2024-08-0118 minPayments Pros – The Payments Law PodcastCFPB's New Interpretive Rule: Buy Now, Pay Later as Credit CardsIn this special crossover episode of The Consumer Finance Podcast and Payments Pros Podcast, Chris Willis and Josh McBeain interview two colleagues who delve into the Consumer Financial Protection Bureau's (CFPB) recent interpretive rule that classifies buy now, pay later (BNPL) transactions as credit cards. Mark Furletti and Jason Cover explore the implications of this rule under Regulation Z, including the introduction of the term "digital user account" and its impact on BNPL providers. The discussion covers the regulatory requirements, potential challenges for compliance, and the broader legal context, including the possible effects of the Loper Bright case on...
2024-07-1118 minThe Consumer Finance PodcastCFPB's New Interpretive Rule: Buy Now, Pay Later as Credit CardsIn this special crossover episode of The Consumer Finance Podcast and Payments Pros Podcast, Chris Willis and Josh McBeain interview two colleagues who delve into the Consumer Financial Protection Bureau's (CFPB) recent interpretive rule that classifies buy now, pay later (BNPL) transactions as credit cards. Mark Furletti and Jason Cover explore the implications of this rule under Regulation Z, including the introduction of the term "digital user account" and its impact on BNPL providers. The discussion covers the regulatory requirements, potential challenges for compliance, and the broader legal context, including the possible effects of the Loper Bright case on...
2024-07-1118 minPayments Pros – The Payments Law PodcastAn In-Depth Analysis of the CFPB's Proposed Overdraft RuleIn this episode of Payments Pros, Josh McBeain and Chris Willis discuss the Consumer Financial Protection Bureau's (CFPB) proposed rule on overdraft fees. The rule, which only applies to large financial institutions with assets over $10 billion, aims to regulate overdraft services by altering the definition of 'finance charge,' effectively subjecting these institutions to Regulation Z's disclosure and substantive provisions. Chris and Josh delve into the complexities of the proposed rule, considering its potential implications and the likelihood of litigation challenges from the industry. They also discuss the role of the Truth in Lending Act (TILA) and the concept...
2024-05-2219 minThe Consumer Finance PodcastAn In-Depth Analysis of the CFPB's Proposed Overdraft RuleIn this episode of The Consumer Finance Podcast, Chris Willis and Josh McBeain discuss the Consumer Financial Protection Bureau's (CFPB) proposed rule on overdraft fees. The rule, which only applies to large financial institutions with assets over $10 billion, aims to regulate overdraft services by altering the definition of 'finance charge,' effectively subjecting these institutions to Regulation Z's disclosure and substantive provisions. Chris and Josh delve into the complexities of the proposed rule, considering its potential implications and the likelihood of litigation challenges from the industry. They also discuss the role of the Truth in Lending Act (TILA) and...
2024-04-0418 minThe Consumer Finance PodcastThe CFPB's Final Credit Card Late Fee Rule: Implications and Industry ResponseIn this special crossover edition of The Consumer Finance Podcast and the Payments Pros podcast, Chris Willis is joined by Josh McBeain and Glen Trudel. They discuss the recent final credit card late fee rule issued by the Consumer Financial Protection Bureau (CFPB) and the industry's reaction to it. The rule lowers the safe harbor provision dollar amount for late fees to $8 for large credit card issuers and increases it for small issuers. The team also discusses the legal challenge filed against the rule by a collective of trade groups. They speculate on potential industry responses if the rule...
2024-03-2119 minPayments Pros – The Payments Law PodcastThe CFPB's Final Credit Card Late Fee Rule: Implications and Industry ResponseIn this special crossover edition of Payments Pros and The Consumer Finance Podcast, Chris Willis is joined by Josh McBeain and Glen Trudel. They discuss the recent final credit card late fee rule issued by the Consumer Financial Protection Bureau (CFPB) and the industry's reaction to it. The rule lowers the safe harbor provision dollar amount for late fees to $8 for large credit card issuers and increases it for small issuers. The team also discusses the legal challenge filed against the rule by a collective of trade groups. They speculate on potential industry responses if the rule survives legal...
2024-03-2120 minPayments Pros – The Payments Law Podcast2023 Payments Year in Review: Subscriptions, FedNow, and More!In the second and final installment of our two-part Payments Year in Review series, Keith Barnett, Carlin McCrory, and Josh McBeain continue their discussion around the payments landscape of 2023 and their predictions for 2024.In this episode, our co-hosts discuss the CFPB and FTC's attempts to regulate negative options, the Federal Reserve's FedNow, the adoption of Money Transmission Modernization Act in several states, Nacha's proposed risk management framework for credit push fraud, and state legislation concerning Earned Wage Access.More information about 2023 regulatory developments can be found in our 2023 Payments Year in Review. ...
2024-02-2222 minPayments Pros – The Payments Law Podcast2023 Payments Year in Review: CFPB and FTC Regulatory TrendsIn the first installment of a two-part Payments Year in Review series, Keith Barnett, Carlin McCrory, and Josh McBeain delve into the payments landscape of 2023 and share their predictions for 2024.Our co-hosts discuss the Consumer Financial Protection Bureau's (CFPB) proposed rule to supervise "larger participants" in the market for general-use digital consumer payment applications. They also examine the CFPB's report on complaints about payment app fraud, their statements on add-on fees and fees associated with requests for account information, as well as their efforts to reduce credit card late fees. Not to be left out of the...
2024-02-0830 minPayments Pros – The Payments Law PodcastUnraveling the Legal Threads: A Deep Dive Into Earned Wage AccessIn the latest episode of Payments Pros, hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss Earned Wage Access (EWA), a system that allows employees to receive their earned wages before the employer's payroll cycle.Keith, Josh, and Carlin delve into the potentially applicable federal laws related to EWA, starting with the Truth in Lending Act (TILA). They discuss the Consumer Financial Protection Bureau's (CFPB) advisory opinion on EWA products and the confusion it caused in the industry. They also discuss other federal laws that may apply to EWA products, such as the Equal Credit Opportunity Act...
2023-10-0523 minPayments Pros – The Payments Law PodcastAnalyzing the Credit Card Competition Act of 2023In this episode of Payments Pros, Josh McBeain welcomes Isaac Boltansky, managing director and director of policy research at BTIG to discuss the proposed Credit Card Competition Act led by Senator Durbin from Illinois.Josh and Isaac discuss the intricacies of the proposed legislation and how it would affect issuers, merchants, and consumers. Additionally, they address some of the skepticism that the bill is receiving from those in the industry and challenges that may come with the legislation. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and...
2023-08-0322 minPayments Pros – The Payments Law PodcastPayments and the Solar IndustryIn this episode of Payments Pros, Josh McBeain welcomes his colleague Andrew Thurmond to discuss residential solar projects as well as the financing and payment options that are available for these types of projects.With renewable energy being a hot topic now, solar providers have multiple payment options to facilitate solar projects, including loans, retail installment contracts, leases, power purchase agreements, and tax credits. Josh and Andrew discuss these options and what to consider before developing solar payment programs for consumers. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about...
2023-07-2727 minThe Consumer Finance PodcastAnnouncing Troutman Pepper’s New Payments Pros Podcast!Please join Troutman Pepper attorneys Chris Willis, Keith Barnett, Carlin McCrory, and Josh McBeain in announcing the Payments Pros Podcast — our new podcast providing insights for those in the payments law industry. This podcast features analysis and commentary from our attorneys and business leaders, regulatory experts, and stakeholders on the most challenging legal and regulatory concerns confronted by companies and others in the payments industry. From the BSA to EFTs, fintech to regtech, licensure to lending, NACHA to the CFPB, and payment processing to debt collecting, we have you covered! Hosted by Simplecast, an AdsWizz company. Se...
2023-07-1104 minPayments Pros – The Payments Law PodcastCFPB's Larger Participant Rule for Consumer PaymentsIn this episode of Payments Pros, our hosts Keith Barnett, Carlin McCrory, and Josh McBeain join their colleague Chris Willis to discuss the Consumer Financial Protection Bureau's (CFPB) larger participant rule for consumer payments mentioned in its 2023 semiannual rulemaking agenda. During this podcast, they examine a myriad of topics concerning this rule, including the following:The current trend of CFPB supervision and why the CFPB is proposing this larger participant rule;The influence on the substantive law governing some aspects of payments;The implication of CFPB examinations of payments companies for the development of the law or regulatory...
2023-07-1121 minThe Consumer Finance PodcastCFPB's Larger Participant Rule for Consumer PaymentsPlease join Troutman Pepper Partner Chris Willis and colleagues Keith Barnett, Carlin McCrory, and Josh McBeain as they discuss the Consumer Financial Protection Bureau's (CFPB) larger participant rule for consumer payments mentioned in its 2023 semi-annual rulemaking agenda. During this podcast, they examine a myriad of topics concerning this rule, including the following:The current trend of CFPB supervision and why the CFPB is proposing this larger participant rule;The influence on the substantive law governing some aspects of payments;The implication of CFPB examinations of payments companies for the development of the law or regulatory expectations related to...
2023-07-0620 minThe Consumer Finance PodcastCFPB’s Section 1071 Final Rule (Part 1): A General OverviewPlease join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule. Part 1 of this special series provides a general overview of the rule, including:What the rule is designed to do;The definition of a small business for the purpose of this rule;What types of small business lenders are covered;Covered and excluded credit transactions as defined by the rule;The thre...
2023-05-0238 minThe Consumer Finance PodcastLots of Developments in Small Business FinancePlease join Troutman Pepper Partner Chris Willis and his colleagues Caleb Rosenberg and Josh McBeain as they discuss a string of recent developments in small business financing at both the state and federal level, including the CFPB's small business data collection rule and the regulations under state disclosure laws.Caleb Rosenberg focuses his practice on helping small business finance companies, banks, fintech companies, and licensed lenders navigate regulatory risks posed by state and federal laws. He has experience performing regulatory due diligence on financial technology companies and assisting clients in responding to regulatory inquiries.Josh...
2023-04-0612 minThe Consumer Finance PodcastCommercial Financing Regulatory DevelopmentsPlease 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, and licensed lenders navigate regulatory risks posed by state and federal laws. He has experience performing regulatory due diligence on financial technology companies and assisting clients in responding to regulatory inquiries.Prior to joining the firm, Josh McBeain served as in-house counsel to...
2023-02-0226 min