Comply Now, Don’t Pay Later
06/02/22 • 18 min
Today’s podcast is discussion had between John Zanzarella, VP of Sales here at PerformLine and Eamonn Moran, Of Counsel at Morgan, Lewis & Bockius LLP. Their conversation revolves around the implications of the CFPB's recent probe into five major BNPL providers - which was announced last December and was due on March 1st of this year - over concerns about risks to consumers associated with accumulating debt, regulatory arbitrage, credit reporting, and data harvesting. As well as what compliance or legal teams at buy now, pay later companies can proactively put in place today to adhere to existing regulations for consumer finance products including UDAAP and TILA.
Today’s podcast is discussion had between John Zanzarella, VP of Sales here at PerformLine and Eamonn Moran, Of Counsel at Morgan, Lewis & Bockius LLP. Their conversation revolves around the implications of the CFPB's recent probe into five major BNPL providers - which was announced last December and was due on March 1st of this year - over concerns about risks to consumers associated with accumulating debt, regulatory arbitrage, credit reporting, and data harvesting. As well as what compliance or legal teams at buy now, pay later companies can proactively put in place today to adhere to existing regulations for consumer finance products including UDAAP and TILA.
Previous Episode
The State of Marketing Compliance Pt. 2
Today’s podcast is part two of the conversation had between Rhonda McGill, Senior Director of Client Solutions here at PerformLine and John Henson, now general counsel and previously head of legal and compliance at consumeraffairs.com. Their discussion revolves around various topics around marketing compliance across industries that we see under the microscope of growing regulatory scrutiny.
Topics that John and Rhonda discuss this week include expectations for 2022 as it pertains to Fair Lending, UDAAP, data privacy and protection - both from the regulators' perspective and third party partners, and things for all compliance professionals to keep in mind as we continue into a year of enforcement and oversight.
Next Episode
UDAAP Compliance Under CFPB Director Chopra Pt. 1
Today’s podcast is a discussion between Rhonda McGill, Sr. Director of Client Solutions at PerformLine and Tony Alexis, Partner at Goodwin Law and former Assistant Director and Head of the Office of Enforcement at the CFPB, where he developed and managed the CFPB’s enforcement strategy, consumer financial investigations and litigation. During today’s podcast they discuss UDAAP compliance under CFPB Director Chopra, specifically:
- The recision of the CFPB's guidance on Abusiveness Standard in 2020 and how it impacts organizations today
- The recent update to the UDAAP examination manual to include discrimination under "unfair"
- The recent notable UDAAP enforcement actions
- And the CFPB's crackdown on repeat offenders and how that ties into UDAAP
COMPLY: The Marketing Compliance Podcast - Comply Now, Don’t Pay Later
Transcript
Hello. And welcome back to a new episode of the comply podcast. Today's podcast is a discussion habit between Johns Zarella VP of sales here at perform line and Aman Mor of council at Morgan Lewis and BKI S LP .
Speaker 1Their conversation revolves around the implications of the CFP. B's recent probe into five major Bator providers, which was announced last December and was due on March. First of this
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