Payments Pros – The Payments Law Podcast

In this episode of Payments Pros, host Carlin McCrory teams up with Hiring to Firing hosts Tracey Diamond and Emily Schifter to explore the emerging world of earned wage access (EWA), or on-demand pay, through the lens of the reality TV show Shark Tank. They examine the Consumer Financial Protection Bureau's evolving approach, rapidly developing (and sometimes conflicting) state laws, and the wage-and-hour and payroll challenges that can arise when employees access their pay early. The discussion also covers how EWA can serve as a powerful recruitment and retention tool, the risk that a well-intentioned benefit can be viewed as a "loan in sheep's clothing," and practical steps HR and in-house counsel can take when vetting vendors or considering in-house EWA programs. Tune in to decide whether EWA is the kind of pitch your HR "sharks" should back — or one that should prompt, "And for that reason, I'm out." Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, host Carlin McCrory is joined by Marissa Tartarini of Elliott Davis to explore how banks can build sustainable, scalable fintech partnerships in a shifting regulatory environment. They begin with the foundational risk questions banks should ask before choosing a partner — speed to market, in-house expertise and gaps, strategic fit, and risk appetite — then turn to practical legal and compliance considerations, including staffing, board oversight, and the need for tailored partnership agreements. Marissa and Carlin discuss the challenges of managing multiple fintech programs at once, maintaining up-to-date policies and marketing, and ensuring that growth does not outpace governance and BSA/AML controls. They highlight what separates successful programs from those that fail, lessons from terminated partnerships, and how to prepare for increasingly technical regulatory exams. Carlin and Marissa close the episode with a look at how regulators' and banks' views of fintech partnerships have evolved and what that means for the future of bank-fintech collaboration. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this crossover episode, Payments Pros host Keith Barnett teams up with Regulatory Oversight host Stephen Piepgrass to unpack how prediction markets, gaming, and payments intersect in a rapidly evolving and legally uncertain landscape. Drawing on Keith's extensive regulatory experience, they explain what prediction markets are, why these contracts are treated as swaps rather than securities, and how that distinction affects insider trading issues. Keith and Stephen then address the growing tension between federal regulators and state attorneys general over whether these products are trading or unlicensed sports betting, the CFTC chair's recent criticism of "regulation by enforcement," and the NCAA's push to pause college sports contracts. They close by examining what this means for banks, payment processors, and other service providers navigating know-your-customer and "lawful transaction" obligations while the law remains in flux. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the second installment of the two-part Payments Year in Review series, hosts Keith Barnett, Carlin McCrory, and Jason Cover focus on the state-level developments that shaped the 2025 payments landscape and will influence 2026.They begin with buy now, pay later (BNPL) and earned wage access (EWA), explaining how the CFPB's rollback of its BNPL rule has prompted states like New York to regulate "BNPL" products, while states such as Connecticut move to treat common EWA fees as finance charges, in contrast to more permissive regimes like Louisiana.The discussion then turns to the patchwork of state laws on convenience fees and surcharges, including Oklahoma's new statute and "junk fee" litigation brought in certain states. The episode closes with updates on merchant cash advances, Colorado's DIDMCA opt-out, and growing state adoption of the Money Transmission Modernization Act and related exemptions. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the first installment of a two-part Payments Year in Review series, hosts Keith Barnett, Carlin McCrory, and Jason Cover highlight the key federal developments that shaped the payments industry in 2025 and preview what's ahead for 2026.They cover the evolving status of the CFPB's payday lending rule, shifting BSA/AML enforcement from federal agencies to increasingly active state regulators, and the CFPB's changing approach to earned wage access, including new guidance for certain employer-integrated models. The episode also examines the fallout from the voided FTC "Click to Cancel" rule and the agency's continued reliance on ROSCA and Section 5 to police auto-renewal and cancellation practices.The discussion wraps up with buy now, pay later (BNPL), focusing on the CFPB's rescinded advisory and New York's move to regulate BNPL more like traditional credit, setting the stage for Part 2's focus on state-level trends. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this crossover episode of Payments Pros and The Consumer Finance Podcast, guest host Taylor Gess dives into the rapidly evolving world of point-of-sale financing for medical and dental procedures with Troutman Pepper Locke Partners Jason Cover, Brent Hoard, and Erin Whaley. They unpack how HIPAA, business associate relationships, and information-sharing structures can impact financing programs in clinical settings. They explore state-level trends in California, Illinois, and New York, including new restrictions on provider involvement in financing, promotional offers, and payments. The discussion also highlights emerging risks around website tracking technologies, payment portals, and wiretapping-style lawsuits targeting digital health and payment ecosystems. Listeners will come away with a practical framework for structuring medical and dental financing arrangements, managing disputes, and anticipating the next wave of state-level regulation and enforcement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this crossover episode of Payments Pros and The Consumer Finance Podcast, Jason Cover, Mark Furletti, and Andrew Thurmond return to unpack the complex landscape of residential solar finance. They highlight practical complications lenders face with home improvement projects involving power purchase agreements, leases, tax credit, retail installment contracts, renewable energy certificates, and more. The discussion also provides insight on trends in the solar industry, bankruptcy, the rise of solar disclosure requirements and state-level oversight, and compliance measures to mitigate risk. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this crossover episode of Payments Pros and The Consumer Finance Podcast, guest host Taylor Gess is joined by Jason Cover and Jeremy Sairsingh to discuss buy now, pay later (BNPL) products as they continue to dive into the Point-of-Sale Finance Series. They highlight the complexities of BNPL offerings and the transformation of these payment models with varying fee structures and repayment terms. As these BNPL products mature, they challenge traditional definitions and regulatory frameworks, prompting a closer look at how consumers and providers are adapting to this financing option and its effects. With continuous industry innovations, regulators are working to keep pace, raising questions about the future direction of BNPL regulation and its impact. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this crossover episode of Payments Pros and The Consumer Finance Podcast, Chris Willis, Jason Cover, and Taylor Gess discuss licensed lending and bank model lending programs. This conversation dives into the benefits, challenges, and regulatory landscapes that shape these popular lending models for financial institutions and fintechs. Consumer finance providers will gain valuable insights on structuring successful lending partnerships in today's complex environment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group, explore the dynamic landscape of partnerships between financial institutions and digital asset firms. They discuss the increasing demand for payment enablement, highlighting how these institutions facilitate fiat currency transactions through strategic collaborations with digital asset providers.The episode also examines the GENIUS Act's impact, which mandates stablecoin reserves to be backed by liquid assets, creating new opportunities for financial institutions to offer deposit services. Additionally, the discussion covers the role of credit unions and key regulatory considerations, such as the Bank Secrecy Act and anti-money laundering obligations, emphasizing the critical importance of due diligence and oversight in bank-fintech partnerships. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory is joined by colleague Kim Phan to discuss the Consumer Financial Protection Bureau's (CFPB) recent developments regarding Section 1033 of the Consumer Financial Protection Act (CFPA). This summer, the CFPB initiated a new rulemaking process, inviting industry comments on its final rule concerning personal financial data rights. With a deadline of October 21 for public comments, industry participants are encouraged to weigh in on access to consumer financial information.Kim and Carlin discuss the strategic implications of the CFPB's reconsideration of the 1033 open banking rule, highlighting the agency's focus on consumer representatives, privacy, security, fee structures, and compliance timelines. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Keith Barnett discusses the complex interplay between payroll processing, Nacha rules, and state labor laws. Building on previous discussions about earned wage access (EWA), Keith examines common issues such as duplicate payments and overpayments, highlighting the importance of adhering to Nacha rules and state-specific labor laws. He explains how erroneous entries are defined under Nacha and the conditions under which reversals can be initiated.The episode also explores the challenges posed by state labor laws, particularly in California and New York, emphasizing the need for employers and processors to navigate both federal and state regulations carefully. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, hosts Keith Barnett and Carlin McCrory examine the recent $5 million settlement between the Federal Trade Commission (FTC) and Paddle.com, a UK-based payment processor. The discussion centers on the FTC's allegations against Paddle for violating the Restore Online Shoppers' Confidence Act (ROSCA) and the Telemarketing Sales Rule (TSR). Paddle's practice of aggregating merchant transactions under its own name led to significant compliance issues with card network rules and masked chargeback levels and disputes. The settlement imposes strict prohibitions on Paddle, including barring it from processing payments for tech support merchants and requiring enhanced client screening and monitoring.Keith and Carlin highlight the critical need for businesses to comply with card network rules. The FTC held Paddle responsible as the merchant of record for the noncompliant negative option billing practices of the merchants whose transactions it processed. The hosts stress the FTC's ongoing vigilance in the payments industry and urge companies to ensure adherence to all regulatory standards. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory is joined by Matthew Goldman, founder of Totavi, LLC and publisher of CardsFTW, to discuss operational compliance for card issuers. Their conversation highlights essential practices for maintaining compliance, such as tracking transactions and monitoring systems effectively.Carlin and Matthew examine the complexities of card programs, identifying common pitfalls and exploring strategies to enhance partnerships with banks and customers. They emphasize how compliance can serve as a revenue enabler rather than merely a cost center. Through practical approaches, such as refining marketing collateral approval processes, they discuss ways to streamline operations and support growth effectively.Matthew shares insights from his extensive fintech experience, offering perspectives into industry expectations and the complexities of card products. Carlin and Matthew's discussion underscores the importance of having the right team and partners to navigate compliance challenges successfully. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory is joined by Pete Jeydel, a partner in the firm's White Collar Litigation + Investigations Practice Group, to discuss the new Department of Justice (DOJ) Data Security Program (DSP), which took effect earlier this year. The DSP, administered by the DOJ's National Security Division, aims to enhance protection for sensitive personal data linked to U.S. persons for activity involving countries of concern like China and Russia. Pete explains that this regulatory framework is distinct from traditional data privacy laws, emphasizing national security over individual consent and contractual protections. The program emerged rapidly following an executive order from President Biden in February 2024, reflecting long-standing concerns about foreign data access.As the episode concludes, Pete emphasizes the critical need for companies to understand the scope and impact of the DOJ's new data security rules. These rules include broad exemptions, including for financial services, but they are complex and require careful interpretation. Noncompliance could result in substantial civil and criminal penalties, making it essential for companies to establish a robust compliance strategy. The DOJ rules necessitate a focus on high-risk areas and a risk-based approach to compliance. Companies are encouraged to proactively assess their data security practices to align with DOJ objectives and effectively mitigate potential risks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special joint episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory Practice, is joined by Keith Barnett and Jason Cover from the Payments Pros podcast, along with Troutman Pepper Locke Consumer Financial Services Partner Mark Furletti. They discuss the future of earned-wage access (EWA) products following the Consumer Financial Protection Bureau's (CFPB) rescission of previous guidance. The conversation explores the history and evolution of EWA products, initially designed as employer-based solutions to provide employees early access to earned wages without extending credit.The group highlights regulatory challenges, including the CFPB's changing stance and the impact of state laws on EWA offerings. They examine how these products are structured to avoid being classified as credit, focusing on optional fees and the absence of repayment obligations. The discussion also addresses the legal landscape, noting potential state-level regulatory landmines and private litigation. The episode emphasizes the importance for fintechs and payroll processors to navigate these complexities carefully, especially in states with stringent regulations like California and New York. The podcast concludes with insights into the future of EWA, stressing the need for compliance with evolving state and federal laws. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special crossover edition of the Payments Pros and Consumer Finance podcasts, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing. They highlight the significant growth in diverse financing products and providers, which have expanded funding access for small businesses, particularly startups.The discussion outlines the evolution from traditional bank lending to the rise of online and fintech solutions, which have filled gaps left by conventional lenders. The group also examines the complexities of the regulatory environment, focusing on the increased scrutiny from state legislatures and the introduction of consumer-like disclosure requirements for small business lending.Additionally, they consider the impact of recent legislative changes in states like Texas and Louisiana, which could transform financing practices. The conversation includes best practices for structuring and servicing financial products while also speculating on future regulatory trends and the potential influence of federal oversight by the FTC. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory is joined by Mary Zinsner, a partner in the Consumer Financial Services Practice Group, to explore the increasing litigation trends in the payments industry, with a focus on elder fraud and financial exploitation.Mary provides valuable insights into how these fraud cases frequently involve diverse payment systems, such as wire transfers and electronic fund transfers. The conversation sheds light on the challenges faced by financial institutions, including the delicate balance between compliance and customer satisfaction, as well as navigating claims related to negligence and breach of contract.Additionally, Mary and Carlin discuss the shifting legal landscape, highlighting state legislative efforts aimed at safeguarding the elderly. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory welcomes Melissa Sneed from the Georgia Department of Banking and Finance and James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group, to explore Merchant Acquirer Limited Purpose Bank (MALPB) charters.Melissa, the deputy commissioner for supervision, outlines the application process for obtaining a MALPB charter, emphasizing the importance of a comprehensive review of financials, management, IT systems, and compliance. She explains the timeline for the process, noting a six-month review period followed by a 90-day decision window after accepting the application, with conditional approvals extending through a three-year de novo period. James also provides insights from the applicant's perspective, stressing the need for thorough preparation and collaboration with legal and consulting experts before engaging with the Department of Banking and Finance.The episode also covers ongoing examination and oversight, highlighting the role of card networks and the unique regulatory requirements involved. The group's discussion emphasizes the collaborative effort required among applicants, card networks, and regulatory bodies to ensure successful charter implementation. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Payments Pros, Carlin McCrory introduces Jason Cover as a new co-host. Jason, a partner in Troutman Pepper Locke's Consumer Financial Services practice, brings extensive knowledge in consumer lending and payments laws. He advises clients on electronic payments, online small business lending, electronic consents, contracts, disclosures, and recurring payment methods. As a fintech consumer credit attorney, Jason focuses on regulatory compliance and product design, covering both federal and state laws. His insights into payment authorizations, Regulation E, and Nacha rules are invaluable. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.