Financial Forward: The Future of Consumer Finance & Banking
Financial Forward with Jim McCarthy
Explore the Future of Consumer Finance, Banking Regulation, and FinTech Innovation
Financial Forward is the essential podcast for professionals in finance, compliance, and innovation. Hosted by Jim McCarthy, founding member of the CFPB and expert in regulatory risk management, each episode features in-depth conversations with leaders from banks, credit unions, fintech companies, and regulatory agencies.
🎯 What You’ll Learn:
- Consumer finance trends and policy changes
- CFPB rulemaking and enforcement actions
- Compliance with FDIC, OCC, NCUA, and CFPB oversight
- FinTech, open banking, and RegTech innovation
- Credit cards, loans, mortgage servicing, and fair lending
- AI and automation in banking compliance
- Risk management and consumer protection
🎧 Who Should Listen:
Bank executives, compliance officers, fintech founders, consumer advocates, and anyone interested in regulatory reform and financial inclusion.
🎙️ Listen now on Apple Podcasts, Spotify, Google Podcasts, Amazon Music, and more.
📲 Follow Jim McCarthy on LinkedIn for exclusive updates:
https://www.linkedin.com/in/jim-mccarthy/
📩 Contact: jim@mccarthy-hatch.com
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#FinancialForwardPodcast #ConsumerFinance #BankingCompliance #CFPB #FDIC #OCC #Fintech #RiskManagement #OpenBanking #JimMcCarthy
Financial Forward: The Future of Consumer Finance & Banking
Protected Funds: Amy’s Fight in Texas
Episode Summary
Amy — a retired Texas teacher living on a fixed income — whose protected retirement funds were swept from her bank account to satisfy an old, likely time-barred credit-card judgment. By filing a detailed complaint with the CFPB and notifying both the collector and the bank that the funds were protected under Texas law, Amy triggered a reversal and got her money back. The episode explores why precision in language matters, what ‘protected funds’ and ‘time-barred debt’ mean, how responses differ between banks and collectors, and the broader, compounding costs of consumer-financial abuse on older Americans.
Key Topics
- Protected funds and Texas anti-garnishment protections
- Time-barred debt and judgment enforcement
- How to file an effective CFPB complaint (what to say, who to notify)
- Bank vs. debt-collector obligations and typical responses
- The hidden tax of junk fees, high-risk interest, and remediation costs on fixed-income seniors
Practical Takeaways
- Name the money source explicitly (e.g., Texas teachers’ retirement) and state it is protected under state law.
- File a CFPB complaint and share it with both the collector and the bank, in writing.
- Keep records: dates, amounts, messages, and call notes help accelerate resolution.
- Older Americans on fixed incomes are disproportionately harmed by junk fees and predatory products.
- Policy matters: clear rules and enforcement protect households long before a crisis does.
Resources Mentioned
- Consumer Financial Protection Bureau — Complaint Portal (file and track complaints)
- Your state’s exemptions chart (review protections for wages, retirement, and benefits)
- Legal aid organizations for debt-collection and garnishment issues
- Bank account ‘benefits-only’ direct-deposit settings and alerts
More from Jim:
LinkedIn: https://www.linkedin.com/in/mccarthyhatch/
https://www.mccarthy-hatch.com/