The Consumer Finance Podcast

Hosted by Chris Willis, Troutman Pepper Locke

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222

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Aug 2026

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About the show

The Consumer Finance Podcast provides reliable, insightful, and entertaining industry-specific content central to consumer finance services. Hosted by veteran Troutman Pepper Locke CFS Partner Chris Willis, this podcast features industry experts, insiders, and other Troutman Pepper Locke attorneys delivering easily digestible segments on a variety of topics.

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September 10, 202635 min

Colorado's ADMT Act Proposed Regulations: Unpacking the Confusion and Compliance Challenges for Financial Services

In this episode of The Consumer Finance Podcast , host Chris Willis is joined by colleague Kim Phan to break down the proposed regulations recently released by the Colorado attorney general (AG) under the Automated Decision-Making Technology (ADMT) Act, Colorado's newly amended AI statute, and explain why the financial services industry needs to engage before these rules are finalized. Chris and Kim walk through several provisions that diverge sharply from what industry had hoped for after the statute's May 2026 rewrite, including a narrow definition of "financial or lending service" that leaves debt collection and insurance in uncertain territory and a meaningful human review requirement that effectively demands full judgmental re-underwriting of automated credit decisions. The hosts also highlight consumer rights provisions that would require disclosure of every data input and score used in an ADMT decision, thus creating significant trade secret exposure and fraud risk with little identifiable consumer benefit. The episode closes with the rulemaking timeline: public comments are due October 5, a hearing is scheduled for October 26, and the AG must finalize rules by January 1, 2027. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 3, 202621 min

The FTC Caught Up: What You Need to Know About Its Latest Disparate Impact Statement

In this crossover edition of The Consumer Finance Podcast and Moving the Metal: The Auto Finance Podcast , hosts Chris Willis , Brooke Conkle , and Chris Capurso break down the FTC's policy statement abandoning disparate impact enforcement under the Equal Credit Opportunity Act and Section 5 of the FTC Act. The group traces the reversal to two key drivers — a reassessment of the FTC's statutory authority and President Trump's executive order directing agencies to deprioritize disparate impact liability — while placing the move in the broader context of similar rollbacks at the CFPB and federal banking regulators. They also examine what remaining exposure looks like at the state level, particularly in New York and New Jersey, and close with a clear message for compliance officers: fair lending is far from dead, the current federal retreat is best understood as a vacation rather than a permanent reprieve, and paying close attention to regulatory signals now can be a meaningful competitive advantage down the road. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 27, 202628 min

Are Text Messages Calls? Seventh Circuit's Steidinger Decision Reshapes TCPA Litigation Landscape

In this episode of The Consumer Finance Podcast , host Chris Willis is joined by colleagues Stefanie Jackman and Brian Hays to discuss the Seventh Circuit's landmark July 2026 ruling in Steidinger v. Blackstone Medical Services , a unanimous decision holding that text messages do not qualify as "telephone calls" under § 227(c)(5) of the Telephone Consumer Protection Act (TCPA), eliminating a private right of action for National Do Not Call Registry violations based solely on text message communications. The trio unpacks the court's textualist reasoning, which anchored the definition of "telephone call" to the plain meaning of the term at the time of the TCPA's 1991 enactment — when a telephone was understood as an instrument for reproducing sounds at a distance, and the first text message had not yet been sent. They also examine how Steidinger relates to the Ninth Circuit's earlier decision in Howard , which reached the opposite conclusion under a different TCPA subsection, and whether a genuine circuit split now exists that the Supreme Court will be compelled to resolve. The conversation then turns to practical implications for litigators and compliance teams. Brian walks through how defense counsel should be leveraging Steidinger in pending cases within and outside the Seventh Circuit, what to expect from plaintiffs pivoting to state telemarketing statutes and state attorney general enforcement actions, and how class definitions are likely to shift. Stefanie delivers a clear compliance message: Steidinger is not a green light to abandon text message compliance controls. Section 227(b) liability, FCC enforcement authority, and a growing patchwork of state laws remain fully intact, and consent remains the most important risk management tool available. The episode closes with broader context on how Steidinger fits into the post- Loper Bright and post- McLaughlin era of TCPA jurisprudence, in which courts are increasingly willing to reject long-standing FCC interpretations and reexamine foundational assumptions about the statute's scope. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 20, 202626 min

Point-of-Sale Finance Series: Auto Finance — Dealer Risk, Lien Perfection, and Compliance Essentials for Market Entrants

In this crossover episode of The Consumer Finance Podcast and Moving the Metal , Jason Cover is joined by colleagues Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services practice to tackle a topic that has been notably absent from the point-of-sale finance series until now — auto finance. As the largest point-of-sale purchase most consumers will ever make, auto finance comes with a distinct set of structural, regulatory, and litigation risks that set it apart from other point-of-sale products like home improvement or medical financing. The conversation begins with the structural mechanics of retail installment sales contracts, explaining why auto finance is dominated by dealer-originated paper assigned to finance companies rather than direct lending, and what that means for compliance and liability. Chris walks through the complexities of vehicle titling and lien perfection across a 50-state patchwork of DMV laws — including the added wrinkles that arise in the refinance context — while Brooke unpacks the litigation risks that follow when those processes go wrong, from repossession claims and bankruptcy lien avoidance to class actions rooted in the FTC Holder Rule. The episode also covers evergreen underwriting and origination risks including ECOA adverse action obligations, yo-yo financing claims, and add-on product exposure, as well as the FTC's recent price advertising guidance and how state attorneys general are stepping into the enforcement void left by federal regulators. The episode closes with practical advice for point-of-sale finance companies considering entering the auto space. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 13, 202616 min

Big Win, Bigger Warning: Hidden Liability Risks Lurking for Debt Buyers After New Jersey's Diana Decision

In this episode of The Consumer Finance Podcast , host Chris Willis sits down with Partners Joseph DeFazio and Joseph Froehlich to discuss the New Jersey Supreme Court's ruling in Diana , a unanimous ruling and long-awaited victory for debt buyers operating in New Jersey. At the center of the conversation is a high-volume litigation campaign waged by the Kim Law Firm, which targeted the chain of title for consumer debts under the New Jersey Consumer Finance Licensing Act (NJCFLA). Kim's core theory argued that any consumer debt under $50,000 — including personal loans, auto loans, and retail credit — that was ever touched, transferred, or assigned by an unlicensed entity is void and unenforceable as a matter of law, and that any attempt to collect on such a debt independently triggers statutory liability. The trio walks through how that theory played out across dozens of lower court decisions, appellate losses, a Third Circuit ruling, and ultimately, the New Jersey Supreme Court's definitive holding that no private right of action exists under the NJCFLA. Despite the favorable ruling in Diana for debt buyers, the threat of litigation has not disappeared. Kim has signaled an intent to pivot rather than retreat, leveraging the ruling's unresolved questions to pursue claims under the Federal Fair Debt Collection Practices Act and the New Jersey Consumer Fraud Act. Tune in to this episode to hear about post- Diana implications and critical issues that remain for debt buyers following the decision. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 6, 202623 min

Rebalancing the Books: Employment Compliance for Financial Services Companies

In this special crossover episode of The Consumer Finance Podcast and Hiring to Firing , hosts Taylor Gess , Tracey Diamond , and Emily Schifter map out obligations hiding in plain sight for multistate financial services employers. The conversation covers crafting a legally defensible employee handbook, pay transparency complexities, and wage and hour classification risks. Together, they deliver guidance for banks, fintechs, lenders, and card issuers operating across state lines, in addition to addressing the thorny intersection of earned wage access, remote workers, and the rapidly evolving assortment of AI hiring laws. It is the episode every financial services employer should hear before their next hire, expansion, or employment compliance review. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 30, 202614 min

Immigration Status in Credit Underwriting: What Recent Federal Guidance Really Means for Lenders

In this solo episode of The Consumer Finance Podcast , Chris Willis , co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory practice, walks through the recent wave of federal regulatory guidance addressing the role of immigration status in consumer lending and explains why the practical impact on lenders may be far more limited than the public discourse suggests. Chris breaks down what each piece of guidance says, including the Consumer Financial Protection Bureau's reminder that Regulation B permits immigration status considerations in ability-to-repay analyses for mortgages and credit cards, and the banking regulators' safety and soundness and concentration risk warnings. He also addresses the competing litigation risks that complicate a simple return to restrictive eligibility policies. He then turns to the critical practical question: what, if anything, should lenders actually do? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 23, 202613 min

Point-of-Sale Finance Series: Bank Charters, M&A, and Partnerships — Strategic Paths for Fintech and Payment Companies

In this crossover episode of The Consumer Finance Podcast and Payments Pros , Taylor Gess is joined by colleagues James Stevens and Sarah Hanna from Troutman Pepper Locke's Corporate and Consumer Financial Services practices to discuss the surge of interest among fintech and point-of-sale finance companies in obtaining bank charters, acquiring existing banks, and forming bank partnerships. With the current administration signaling an open-for-business posture at the federal banking agencies, and the Office of the Comptroller of the Currency (OCC) actively encouraging de novo applications, payment and fintech companies are weighing their options more seriously than they have in years. The conversation covers what is driving the spike in charter applications, including from companies in the crypto, lending, and payments spaces, and how specialty charters are factoring into that trend. James and Sarah also walk through the bank partnership landscape, where enforcement activity has cooled and focus has shifted, and explain how acquiring an existing bank charter compares to starting from scratch on timing, cost, and regulatory complexity. The episode closes with practical guidance for point-of-sale finance companies considering any of these three paths, including why building internal compliance infrastructure early, engaging regulators informally, and retaining regulatory counsel sooner rather than later can make or break a successful launch. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 16, 202627 min

Point-of-Sale Finance Series: State AGs Filling the Federal Void in Point-of-Sale Finance Enforcement

In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight , Taylor Gess is joined by colleagues Michael Yaghi and Lane Page from Troutman Pepper Locke's State AG and Regulatory Investigations, Strategy + Enforcement practice groups to discuss the hottest areas of state regulatory activity in the point-of-sale space. With federal consumer protection enforcement pulling back in certain areas under the current administration, state regulatory agencies are stepping into the spotlight to take an industrywide approach to point-of-sale finance. The conversation covers regulatory scrutiny around buy now, pay later (BNPL) products following the CFPB's withdrawal of its interpretive rule, a coordinated seven-state inquiry into the U.S.'s largest BNPL providers, and what providers should be doing now to assess their own compliance posture. They also dig into the solar and home improvement finance sector, where states are challenging fee disclosures and targeting finance provider-merchant relationships, as well as the growing rent-to-own enforcement landscape. The episode closes with a look at what Rohit Chopra's new role leading California's consolidated consumer protection agency could mean for the financial services industry, with both California and New York positioning themselves as state-level successors to the CFPB's prior enforcement mission. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 9, 202623 min

MLA and SCRA 103: Beyond Pricing — Non-Rate Protections, Enforcement Pitfalls, and Servicing Considerations

In this third installment of the special series on servicemember protections, Chris Willis is joined by colleagues Taylor Gess and Jeremy Sairsingh to explore the non-pricing protections under the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA). The discussion covers the MLA's disclosure and delivery requirements, including the written and oral disclosure obligations that must be satisfied before or at the time credit is extended, and the practical approaches financial institutions use to meet the oral disclosure requirement. The team then turns to the SCRA's broad non-rate protections, walking through litigation protections, collateral protections governing repossessions and foreclosures, and mobility protections that allow servicemembers to terminate residential and auto leases and certain consumer service contracts upon qualifying orders, including the distinction between pre-service and in-service lease terminations and the ongoing DOJ enforcement activity in this space. The episode also covers the MLA's prohibition on mandatory arbitration clauses and anti-waiver requirements, the SCRA's specific form and timing requirements for valid waivers of servicemember rights, and the MLA's payment and contract term restrictions, including prohibitions on military allotments, prepayment penalties, and remotely created checks. The conversation closes with a discussion of the SCRA's anti-retaliation provision and why the prohibition on adverse treatment following a servicemember's invocation of SCRA rights has important implications for credit reporting, account servicing, and system design. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.