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“FirstCash, the CFPB, and Military Lending Protections: A Follow-Up to Our Service Member Panel”

Release Date:
July 2025

🔍 Episode Overview

In this special follow-up episode of Financial Forward, host Jim McCarthy revisits the critical topic of military financial protections in the wake of a major enforcement action by the Consumer Financial Protection Bureau (CFPB).

Since the airing of our original Service Member Panel, the CFPB reached a $9 million settlement with FirstCash, Inc. and its subsidiaries for violations of the Military Lending Act (MLA). The Bureau alleged unlawful pawn loans with APRs over the MLA’s 36% cap, mandatory arbitration clauses, and missing disclosures—violations that also breached a 2013 Bureau order.

To help unpack the implications of this case and what it means for the financial marketplace, Jim is joined by returning guests:

👥 Featured Guests

🔹 Eric Goldberg

• Chambers-ranked expert in consumer financial services compliance and regulation
• Former Senior and Managing Counsel at the CFPB, where he led rulemaking on payments, credit, arbitration, and more
• Advisor to fintechs and banks on launching compliant, innovative financial products

🔹 Colonel Paul Kantwill, U.S. Army (Ret.)

• Former Assistant Director, CFPB Office of Servicemember Affairs
• Led the Department of Defense policy team that implemented the Military Lending Act
• Professor, veteran advocate, and national voice on military and consumer financial law

💡 Topics Covered

• Details of the CFPB’s July 11, 2025 enforcement action against FirstCash
• The Military Lending Act – what it protects and why it matters
• Insights from those who helped write and enforce the MLA
• Compliance expectations for lenders serving military families
• Broader implications for fintech and financial institutions

📎 Resources & Links

• 🔗 CFPB Press Release: FirstCash Settlement (July 11, 2025)
• 🎧 Original Service Member Panel Episode
• 📄 Military Lending Act Overview – CFPB

💬 Join the Conversation

Are you a servicemember with a financial story to share? A compliance officer with questions about the MLA? Reach out to us at Jim@McCarthy-Hatch.com or connect with us on LinkedIn.

🎧 Listen & Subscribe

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Recorded: Tuesday, July 1 | 1:00 PM CT
Presented by: McCarthy Hatch

🎯 Episode Overview:

As the Consumer Financial Protection Bureau (CFPB) sharpens its lens on how financial institutions serve military members and their families, this live panel explores the evolving regulatory landscape and the moral imperative to do better.

We go beyond compliance checklists to examine complaint data, identify institutional risks, and spotlight opportunities to lead with integrity.

👥 Featured Panelists:

• Jim McCarthy
  Chairman, McCarthy Hatch
  Founding member of the CFPB, regulation expert, and host of Financial Forward.
• Eric Goldberg
  Partner, Akerman LLP
  Nationally recognized regulatory attorney with deep experience advising banks and fintechs on CFPB rules and servicemember protections.
• Lezlie Hansen
  Executive, U.S. Bank
  Senior banking leader overseeing compliance and customer experience, with a strong focus on military financial services.
• Colonel Paul Kantwill (Ret.)
  Former Assistant Director, Office of Servicemember Affairs, CFPB
  Decorated U.S. Army veteran and one of the most respected voices in military consumer protection.

🔍 Topics Covered:

• The CFPB’s intensifying enforcement posture on military-related financial harm
• Common SCRA compliance failures—and their legal and reputational risks
• Trends emerging from complaint data and regulatory actions
• What military families are experiencing in the marketplace today
• Best practices for banks and servicers navigating scrutiny with integrity
• How to build an internal culture that respects, protects, and empowers those who serve

📌 Key Takeaways:

• Data is destiny: Complaint trends offer early signals of where regulators are headed next.
• Culture matters: Compliance with the SCRA isn’t just a legal issue—it’s a leadership one.
• Enforcement is rising: Expect increased scrutiny, particularly in lending, collections, and repossessions involving servicemembers.
• Institutions must lead: Those who proactively close gaps and invest in consumer fairness will be best positioned to thrive.

📚 Resources Mentioned:

• Servicemembers Civil Relief Act (SCRA) guidance
• CFPB enforcement updates
• McCarthy Hatch’s FSAi risk monitoring technology
• Akerman LLP legal insights hub
• U.S. Bank’s commitment to military families
• Kantwill Strategies: Veteran advocacy and training

📣 Stay Connected:

👉 Follow McCarthy Hatch on LinkedIn
💬 Reach out to Jim McCarthy for speaking engagements or media inquiries
🎧 Subscribe to Financial Forward for future episodes and webinars

More from Jim:
LinkedIn: https://www.linkedin.com/in/mccarthyhatch/
https://www.mccarthy-hatch.com/

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“AI Governance & Change Management in Financial Services”
Guest: Parijat Banerjee, Global Head of Financial Services at LatentView Analytics

🔗 Episode Summary

In this episode of Financial Forward, host Jim McCarthy sits down with Parijat Banerjee, a leading expert in financial data analytics and the Global Head of Financial Services at LatentView Analytics. Together, they explore the challenges and opportunities financial institutions face in implementing AI-driven transformation, with a special focus on AI governance, data integrity, risk alignment, and change management.

Drawing from nearly two decades of experience in data-first consulting, Parijat shares how financial organizations can adapt to the rapidly evolving AI landscape while maintaining compliance, trust, and operational resilience. This is a must-listen for leaders navigating digital modernization, regulatory scrutiny, and cultural shifts inside banks and financial service providers.

💡 Topics Covered

• The current state and future trajectory of AI adoption in banking
• Governance models that support responsible AI use
• The importance of cross-functional collaboration between compliance, risk, and IT
• How to translate AI strategy into execution without disrupting core operations
• The cultural and organizational shifts needed for successful change management
• Lessons from working with global Fortune 500 clients

👤 About Our Guest

Parijat Banerjee is the Global Head of Financial Services at LatentView Analytics, a data-native consulting firm helping some of the world’s most respected organizations harness the power of data for decision-making. With over 20 years of experience, Parijat leads transformation initiatives across analytics, AI, and digital strategy.
🔗 Connect with Parijat on LinkedIn

☕ Sponsor Spotlight

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New episodes drop regularly featuring deep conversations at the intersection of finance, technology, and regulation.

👉 Know a guest we should feature or a topic you'd like us to explore? Reach out to Jim McCarthy or follow us on LinkedIn.

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