The Consumer Finance Podcast

Please join Consumer Financial Services Partner Chris Willis and fellow Partners Lori Sommerfield and Kim Phan, along with special guest Matt Ater from Vispero, as they discuss recent developments in website accessibility governing public accommodations under Title III of the Americans with Disabilities Act (ADA). Topics include:

• Current litigation trends, including the recent increase in ADA website accessibility lawsuits filed in federal and state courts;
• Insights into the DOJ’s recent website accessibility guidance and enforcement efforts;
• Recommendations for companies to achieve website accessibility compliance under the ADA;
• Technological solutions for website accessibility; and
• Elements of an effective ADA risk management program.

A seasoned consumer financial services attorney, Lori Sommerfield brings more than two decades of experience in federal government, in-house, and private practice settings. She has deep expertise in fair lending and responsible banking regulatory compliance, and she routinely counsels clients in consumer financial services supervisory issues, examinations, investigations, and enforcement actions. Lori is also highly experienced in advising clients on compliance with Title III of the ADA on accessibility of physical spaces and digital platforms.

As a partner in the firm's Privacy + Cyber Practice Group, Kim Phan assists financial institutions with e-commerce, social media, and mobile app development and compliance, including adapting an augmented reality mobile game for a retail client, conducting online behavioral advertising assessments of websites to update and enhance website privacy policies, adapting website functions for accessibility in compliance with the ADA, and establishing employee training on social media interactions with consumers.

Matt Ater serves as the vice president of enterprise sales at Vispero, focusing on creating more opportunities to holistically support customers and users alike. He brings over 25 years of experience in accessibility support services.

Join Troutman Pepper Partner Chris Willis and Counsel Shannon Patterson as they discuss the top issues a company's board of directors needs to consider regarding the use of artificial intelligence (AI) in its business. Shannon specializes in advising companies on board and management governance issues, particularly publicly traded companies, to ensure that boards are well-informed of their responsibilities. In this episode, Shannon offers valuable insights on how a company's general counsel can support its board in integrating principles of good governance for the responsible and effective use of AI.

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Joe Reilly for an important update on the Consumer Financial Protection Bureau's (CFPB) new small business lending data collection and reporting final rule — the Section 1071 Final Rule. On July 31, the U.S. District Court for the Southern District of Texas issued a preliminary injunction enjoining the CFPB from implementing and enforcing the Final Rule against members of the American Bankers Association, Texas Bankers Association, and a Texas bank. Chris, Lori, and Joe discuss who benefits from the injunction and what it means for those who do not, advocacy efforts by other financial institution trade groups to level the playing field, the impact on small business borrowers, when we can expect a resolution, and until then, how small business lenders should move forward.

Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of the Practical Handbook on Fair Lending for Bank Directors and Executive Officers (AABD Handbook). The updated AABD Handbook addresses the dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws over the past decade, with aggressive enforcement of the Equal Credit Opportunity Act and Fair Housing Act by federal agencies (including the CFPB, U.S. Department of Justice, and federal banking agencies) under various presidential administrations.

The AABD Handbook is designed to raise awareness and provide education to bank directors and executive officers about federal fair lending laws and related laws, as well as offer guidance to directors and executive management on their roles in providing meaningful oversight for fair lending risk management. The AABD Handbook also describes best practices to enhance banks' fair lending compliance programs to meet regulatory expectations. For this reason, the AABD Handbook serves as a helpful resource for others, including chief risk officers, chief compliance officers, and fair lending officers.

The AABD Handbook is available for purchase through Amazon in paperback and e-book formats.

David Baris serves as the president of the American Association of Bank Directors (AABD). He has led AABD since its founding in 1989 to provide bank directors the resources with which to serve their institutions effectively and in a manner that minimizes the risk of personal liability consistent with safe and sound banking practices. AABD supports bank directors through its advocacy, information, and training initiatives.

David was a banking law partner with several law firms for many years, including Kennedy & Baris, which he co-founded, and later the Buckley law firm in Washington, D.C. Earlier in his career, he served as counsel to an oversight subcommittee of the House Government Operations Committee and legislative counsel to a member of Congress. Mr. Baris has authored seven books and numerous articles on bank director issues.

Please 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 Reg E;
• How the CFPB might use UDAAP in the payments space to drive sought-after industry changes or remediations; and
• The anticipated timeline for the proposed rule.

We also invite you to listen and subscribe to our new podcast, Payments Pros – The Payments Law Podcast for insights into the legal and regulatory issues facing companies in the payments industry. Click here to listen!