The Consumer Finance Podcast

MLA and SCRA 101: Servicemember Credit Protections and Compliance Risks

In this kickoff episode of a special series on servicemember protections for The Consumer Finance Podcast, Chris Willis [https://www.troutman.com/professionals/chris-j-willis/] is joined by colleagues Taylor Gess [https://www.troutman.com/professionals/taylor-r-gess/] and Jeremy Sairsingh [https://www.troutman.com/professionals/jeremy-colin-sairsingh/] to unpack the fundamentals of the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA) — two laws that remain top enforcement priorities for federal regulators. They explain how these laws are rooted in military readiness and national security, and why that history matters for how regulators, courts, and the Department of Justice view compliance in the consumer credit space today. The discussion walks through the core building blocks: what types of credit products each law covers, how the SCRA's timing- and remedy-focused framework works, and who qualifies as a "covered borrower" or protected servicemember or dependent under each law. The team highlights practical compliance challenges, including the safe harbors for covered-borrower checks under the MLA, the critical differences between MLA and SCRA status checks, and the risks around repossessions and foreclosures when SCRA protections apply to pre-service obligations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com [https://pcm.adswizz.com] for information about our collection and use of personal data for advertising.

The Debanking Debate: Regulators, Risk, and Reality for Payments

In this special crossover episode of The Consumer Finance and Payments Pros podcasts, Carlin McCrory [https://www.troutman.com/professionals/carlin-a-mccrory/], Keith Barnett [https://www.troutman.com/professionals/keith-j-barnett/], and Chris Willis [https://www.troutman.com/professionals/chris-j-willis/] explore the federal government's increasing attention to "debanking" and what it means for payment processors, money transmitters, banks, and other financial services providers. They discuss recent federal initiatives and agency activity that have heightened scrutiny of decisions to onboard, maintain, or terminate customers and merchants, particularly where those decisions may be perceived as based on political or religious viewpoints. The conversation highlights emerging regulatory theories about when debanking could be treated as an unfair practice, and how those theories align with existing statutory and case law frameworks. The group also examines the interaction between legitimate risk management under the BSA and reputational risk. They close with practical takeaways for the industry, including the importance of revisiting risk and onboarding practices, aligning those practices with evolving regulatory expectations, and maintaining clear documentation to support decisions about customer and merchant relationships in a changing oversight environment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com [https://pcm.adswizz.com] for information about our collection and use of personal data for advertising.

Colorado's New ADMT Act: Repeal of the 2024 AI Law, Expanded Coverage, and What It Means for Financial Services

In this episode of The Consumer Finance Podcast, Chris Willis [https://www.troutman.com/professionals/chris-j-willis/] and Kim Phan [https://www.troutman.com/professionals/kim-phan/] unpack Colorado's brand-new Automated Decision-Making Technology (ADMT) Act, which repeals and replaces the state's much-criticized 2024 AI law. They explain the shift from "high-risk AI systems" to the broader ADMT framework, what it means for consequential decisions in lending and financial services, and how the statute's "material influence" standard can sweep in tools that do far more than make final credit determinations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com [https://pcm.adswizz.com] for information about our collection and use of personal data for advertising.

CFPB's Reg B Final Rule: Disparate Impact Liability Out, Discouragement Standard Narrowed, and SPCPs in the Crosshairs

In this episode of The Consumer Finance Podcast, Chris Willis, Lori Sommerfield, Taylor Gess, and Lane Page discuss the CFPB's sweeping final amendments to Subpart A of Regulation B. The group unpacks the elimination of the disparate impact legal theory from ECOA, the narrowing of the discouragement standard (including what it means for targeted advertising), and the significant new limits on special purpose credit programs (SPCPs). They also explore expected litigation challenges, the continuing role of the Fair Housing Act and state laws in bringing cases under the disparate impact theory, and the practical steps lenders should be taking now to reassess fair lending testing, SPCP design, and redlining risk in light of the final rule. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com [https://pcm.adswizz.com] for information about our collection and use of personal data for advertising.

Why the Consumer Reporting System Is So Important

In this episode of The Consumer Finance Podcast [https://www.troutman.com/the-consumer-finance-podcast.html], Chris Willis talks with Dan Smith, president and CEO of the Consumer Data Industry Association, about current challenges and changes in the U.S. consumer reporting system. They discuss how reliable credit information supports fair lending decisions and helps lenders understand a borrower’s ability to repay. The conversation touches on rising FCRA litigation, new state efforts affecting what can appear on credit reports — especially medical debt — and the growing issue of “credit washing,” where large volumes of questionable disputes can hide accurate information and slow resolution of real errors. The episode also highlights the importance of working with regulators and policymakers to preserve a nationwide credit reporting system that is complete, accurate, and consistent in supporting responsible lending and access to credit. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com [https://pcm.adswizz.com] for information about our collection and use of personal data for advertising.