Join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead.
Please join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead. In our eighth year of publishing this annual review of regulatory and legal developments in the consumer financial services industry, our team has prepared a thorough analysis of the most important issues and trends across 17 consumer protection areas. For the first time, we are rolling out both webinars and podcasts on select topics to not only provide more in-depth coverage of 2023 events, but also let you know what we expect in 2024. This material will be beneficial to in-house counsel, compliance managers, regulators, and anyone in the consumer financial services space who wants to stay ahead of the curve.
To download a copy of the Consumer Financial Services Year in Review and Look Ahead, please click here. For a list of our upcoming webinars, please check out our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.
The Consumer Finance Podcast: 2023 Year in Review and a Look Ahead Series
Host: Chris Willis
Guests: Michael Lacy
Date Aired: February 1, 2024
Chris Willis:
Welcome to The Consumer Finance Podcast. I'm Chris Willis, the co-leader of Troutman Pepper's Consumer Financial Services Regulatory Practice. And today we're going to be previewing for you our special Consumer Financial Services Year in Review and Look Ahead publication, which we're very excited and proud to offer you. But before we jump into that topic, let me remind you to visit and subscribe to our blogs, TroutmanPepperFinancialServices.comand ConsumerFinancialServicesLawMonitor.com. And don't forget about our other podcasts. We have lots of them. We have FCRA Focus all about credit reporting. We have The Crypto Exchange about everything crypto. We have Unauthorized Access, which is our privacy and data security podcast and our newest podcast, Payments Pros, which is all about the payments industry. And those are all available on all popular podcast platforms.
And speaking of those podcast platforms, if you like this podcast, let us know. Leave us a review on your podcast platform of choice and let us know how we're doing. And of course, don't forget about our handy mobile app. It's available for both iOS and Android and serves as a great one-stop shop for all of our thought leadership content. You can find all of our blogs, all of our podcasts, a handy directory of all of our financial services lawyers, and even a great calendar that shows you what conferences we're attending and speaking at. Just look for Troutman Pepper in your app store, download it, and give it a try. Now, as I said, today we're going to be talking about our Consumer Financial Services group's signature publication, the Consumer Financial Services Year in Review and Look Ahead. And joining me today is our practice group leader of our Consumer Financial Services group, Michael Lacey. Michael, welcome to the podcast.
Michael Lacy:
Thanks, Chris. Happy to be here.
Chris Willis:
Michael, we've once again done our Year in Review and Look Ahead publication. We're going to be releasing it soon, but let the audience know what we're talking about. For those who may not have seen it before, can you tell the audience a little bit about what this publication is and what's in it?
Michael Lacy:
Let me start off by saying this is our eighth year of doing this Year in Review publication. And what it tries to do is recap the prior year's notable events in the 17 consumer protection areas ranging from FCRA to the Telephone and Consumer Protection Act, to student lending, to tribal lending to FinTech. And what we try to do in a succinct fashion is recap the major developments in those particular subject areas as well as providing some insight on what we expect to happen in the next year in 2024 in this case. Again, 17 topic areas are covered and we think it's a very good comprehensive review that can be set on one's desk to reference as you navigate the ever-changing consumer financial services world we live in.
Chris Willis:
Yeah, and I think importantly, when we write the content for this, and I did my part and lots of people in the group did their part in it, we're focused not only on recapping some of the major developments of the preceding year, but importantly giving a preview for what's coming or what we think is coming with respect to regulators or litigation or potential court decisions that we think may happen in 2024. So it's not just sort of a walk down memory lane together, it's also our best insights into what to expect for the next year.
Michael Lacy:
I would agree. And I think that's one of the best value adds of our publication, which of course will be online and written word product as well. I would also add that for the first time ever, we are going to be rolling out both webinars and podcasts on some of the topics so you can get an even more in-depth review of what happened in 2023. But to your point, Chris, what we expect to happen in 2024, which is sizing up to be another interesting year in consumer financial services.
Chris Willis:
And those podcasts, of course, are going to be available right here as part of The Consumer Finance Podcast. And the webinar invitations will go to those people who are signed up for our Consumer Financial Services email list, which they can join by heading over and visiting us at Troutman.com. Right?
Michael Lacy:
Yes, sir.
Chris Willis:
I also know that there are some differences in the way that we did the publication this year as compared to years past. So, for those of our listeners who've seen our previous seven years’ worth of this, what will they notice is different this year?
Michael Lacy:
I think they'll notice it's a little bit more streamlined. I think in this digital age, we really wanted to reduce the emphasis on what we've written up, but also really push out these webinars and podcasts because we've seen how folks have really taken in our thought leadership, whether it be through the blog or webinars or the podcast that you mentioned earlier today. And we see a lot of folks really gravitating to these digital mediums. So, in terms of how it will look different, I think you'll see a more streamlined written product, but really supplemented with these more digital mediums where we get to have a more in-depth conversation about the topics.
Chris Willis:
Yeah, and so no matter how our clients and industry friends want to take this content in, we're giving it to them in lots of different ways to make it as convenient for them as possible, I think.
Michael Lacy:
Absolutely, that's the goal.
Chris Willis:
When we think about the intended audience for the Year in Review and Look Ahead publication, it's probably fairly obvious that in-house lawyers who work in the consumer finance industry will be interested in it because we're lawyers and that's what we do. But I think the audience really goes beyond that. Would you mind commenting on that for a minute, Michael?
Michael Lacy:
Absolutely. And you're right. I mean, obviously we get a lot of great feedback from our in-house clients and how beneficial the Year in Review publication is, but as practicing attorneys, we look at other firm's publications as well. And we're always interested in how other folks are thinking about some of these really significant issues, not only their analysis of what happened, but how they think that will influence the course of events in the next year or two. I think it's for all practitioners, in-house counsel. I know that regulators look at what we publish as well. I think anyone who touches on these subject matter areas will find what we have to say beneficial, helpful, and hopefully interesting.
Chris Willis:
I think that would include not only the in-house lawyers, but people who work in the compliance function and even business leaders within consumer financial services businesses because the more they're educated about where the currents are flowing with respect to litigation and regulation, the better equipped they are to make business decisions that will allow them to hopefully avoid those problems. And so that's why we would encourage our listeners and readers of the Year in Review and Look Ahead publication to share it with all those constituencies within their organizations.
Michael Lacy:
Chris, that's a great point, and I think it circles back on one of the earlier questions you asked me, how is this year's edition going to look different than perhaps years past? We've really tried to write it in a way where it's a little bit less dense. The business folks can pick it up and understand what we're seeing without having to really delve into a bunch of details that might not be salient to their job. It's more of the headliners that you can pick up on. And again, we do want to supplement that with our webinars and our podcasts.
Chris Willis:
Well, I know we were very excited to put this publication out and to release the podcast and do the webinars that you mentioned. And I imagine a number of our listeners are going to be interested in downloading and reading the publication as soon as it's available, as well as signing up for the webinars. So would you mind telling the audience where can they expect to see and be able to download the written publication and how would they access the other things that we're making available to them?
Michael Lacy:
Well, Chris, the Year in Review itself will be available on our blogs. As you mentioned earlier, the Consumer Financial Services Law Monitor, as well as TroutmanPepperFinancialServices.com. And of course, Troutman.com will have links to the Year in Review. The podcasts will start dropping in the next couple weeks, late January, early February. They too will be available not only on our blogs and on our website, but also wherever podcasts can be downloaded, Apple, Google Play, all of the normal locations where you can find your favorite podcasts.
Chris Willis:
Okay. I'm really excited to have our clients and industry friends read and listen to the podcasts and webinars that we're going to do about the Year in Review and the Look Ahead, because I certainly feel like 2023 was as wild a ride as we've ever had in the industry. And 2024 is shaping up to be no less exciting. And I think the publication and the associated content that we're putting out will be a great guide to help people sort of center themselves and prepare for the year ahead, which of course is exactly what we want them to do. So Michael, thanks for first of all, everything you do to facilitate the creation and publication of this material, because as our practice group leader, you're the one who's primarily responsible for it. But also, of course, thanks for coming on the podcast today and telling our listeners about it.
Michael Lacy:
Well, thanks so much, Chris. And again, thank you for all that you do to help promote the good work we're doing here at Troutman Pepper in the consumer financial services area. And we really hope all the folks out there enjoy the Year in Review and get to listen to some of the podcasts and attend the webinars. I think you'll find them to be interesting and beneficial and look forward to seeing everyone throughout the year.
Chris Willis:
And thanks to our audience for tuning into today's episode. As we've said throughout the episode, don't forget to visit and subscribe to our blogs, ConsumerFinancialServicesLawMonitor.com and TroutmanPepperFinancialServices.com. And as we said earlier, while you're at it, head on over to Troutman.com and add yourself to our consumer financial services email list that'll allow you to get invitation to the webinars that Michael have been talking about. But also, we'll put you on the list for the alerts and advisories that we send out from time to time. And as I said, if you like our thought leadership content, check out our mobile app. It's a great place to get all of it in one convenient place on your mobile device, the podcast, all the blogs, everything. And you just need to look for Troutman Pepper in your app store, whether it's iOS or Android. And of course, stay tuned for a great new episode of this podcast every Thursday afternoon. Thank you all for listening.
Copyright, Troutman Pepper Hamilton Sanders LLP. These recorded materials are designed for educational purposes only. This podcast is not legal advice and does not create an attorney-client relationship. The views and opinions expressed in this podcast are solely those of the individual participants. Troutman Pepper does not make any representations or warranties, express or implied, regarding the contents of this podcast. Information on previous case results does not guarantee a similar future result. Users of this podcast may save and use the podcast only for personal or other non-commercial, educational purposes. No other use, including, without limitation, reproduction, retransmission or editing of this podcast may be made without the prior written permission of Troutman Pepper.If you have any questions, please contact us at troutman.com.