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.
Transcript: CFPB’s Larger Participant Rule for Consumer Payments (PDF)
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!