loader from loading.io

White House Executive Order on Scams and Fraud Takes Center Stage

Consumer Finance Monitor

Release Date: 05/07/2026

CFPB Finalizes Sweeping ECOA Rule Changes: What Lenders Need to Know About Disparate Impact, Discouragement, and SPCPs show art CFPB Finalizes Sweeping ECOA Rule Changes: What Lenders Need to Know About Disparate Impact, Discouragement, and SPCPs

Consumer Finance Monitor

Today’s episode of the Consumer Finance Monitor Podcast features a wide-ranging and timely discussion about one of the most consequential fair lending developments in years: the CFPB’s final rule fundamentally reshaping enforcement under the Equal Credit Opportunity Act (ECOA) and Regulation B. Hosted by Alan Kaplinsky (the Founder, Chair for 25 years and now Senior Counsel of the Consumer Financial Services Group at Ballard Spahr, LLP), the episode brings together an exceptional panel of fair lending authorities: our special guest Bradley Blower (the Principal and Founder of...

info_outline
White House Executive Order on Scams and Fraud Takes Center Stage show art White House Executive Order on Scams and Fraud Takes Center Stage

Consumer Finance Monitor

Today, we released a new episode of the award-winning Consumer Finance Monitor Podcast examining one of the most significant recent federal developments in the fight against scams and fraud: . Hosted by Alan Kaplinsky (the founder, chair for 25 years and now Senior Counsel in the Consumer Financial Services Group), the episode features returning guests Kate Griffin and Nick Bourke of the Aspen Institute, who previously joined the podcast to discuss Aspen’s landmark report, .   Why This Episode Matters Scams and fraud continue to impose staggering losses on American households,...

info_outline
Debt Sales 101 Mini-Series — Episode 6: After the Close: Compliance, Oversight, and Ongoing Risk show art Debt Sales 101 Mini-Series — Episode 6: After the Close: Compliance, Oversight, and Ongoing Risk

Consumer Finance Monitor

In the final episode of our Debt Sales 101 mini-series, we focus on what happens after a debt sale closes and how sellers manage ongoing compliance, oversight, and risk. We discuss how regulators view debt sales as a managed activity rather than a clean exit and what that means for post-sale responsibilities.    From a regulatory perspective, sellers are expected to maintain reasonable oversight of buyers, particularly where consumer harm could arise. We discuss key post-close considerations, including monitoring complaints, credit bureau disputes, litigation trends, and regulatory...

info_outline
The White House AI Framework: Ambition, Preemption, and Uncertainty Ahead show art The White House AI Framework: Ambition, Preemption, and Uncertainty Ahead

Consumer Finance Monitor

In the episode of Consumer Finance Monitor Podcast being released today, we explore the White House’s National Policy Framework for Artificial Intelligence published on March 20, 2026. This new framework represents the Administration’s most concrete attempt yet to shape the future of AI governance in the United States. While it does not carry the force of law, it offers a revealing look at the policy direction the Administration hopes Congress will take. Joining our host, Alan Kaplinsky (founder, chair for 25 years and now Senior Counsel of the Consumer Financial Services Group), for this...

info_outline
Debt Sales 101 Mini-Series — Episode 5: Closing the Deal: Key Contracting and Transaction Issues show art Debt Sales 101 Mini-Series — Episode 5: Closing the Deal: Key Contracting and Transaction Issues

Consumer Finance Monitor

In Episode 5 of our Debt Sales 101 mini-series, we turn to contracting and closing, where legal structure, regulatory expectations, and commercial terms come together to define the transaction. We discuss the key provisions in a debt purchase and sale agreement and how those provisions allocate risk between buyers and sellers.    From a regulatory perspective, the contract is more than a commercial document. It is also an artifact that regulators expect to review. We explain how representations and warranties, indemnification provisions, buyback mechanics, and audit rights are used...

info_outline
NYC DCWP at the Forefront of Consumer Protection: A Conversation with Commissioner Sam Levine show art NYC DCWP at the Forefront of Consumer Protection: A Conversation with Commissioner Sam Levine

Consumer Finance Monitor

In this episode of the Consumer Finance Monitor Podcast, host Alan Kaplinsky (founder, former chair for 25 years and now Senior Counsel) had the pleasure of speaking with Sam Levine, Commissioner of the New York City Department of Consumer and Worker Protection (DCWP), about the agency’s evolving role as one of the most active local consumer protection regulators in the country. Important note: This podcast was recorded prior to DCWP’s April 8, 2026 release of its proposed “click-to-cancel” rule addressing subscription practices. Alan recorded a description of the proposed rule which...

info_outline
Debt Sales 101 Mini-Series — Episode 4: The Regulatory Landscape for Debt Sales Today show art Debt Sales 101 Mini-Series — Episode 4: The Regulatory Landscape for Debt Sales Today

Consumer Finance Monitor

In Episode 4 of our Debt Sales 101 mini-series, we focus on the current regulatory landscape governing debt sales and how recent developments are shaping the market. We discuss how oversight has become more fragmented, more active, and increasingly driven by state regulators and attorneys general, and how that shift is affecting both buyers and sellers.    A central theme in this episode is that regulation is no longer a background consideration. It is a primary driver of pricing, deal structure, and buyer participation. We walk through key regulatory themes, including the...

info_outline
“True Lender” Doctrine Back in the Spotlight: Key Takeaways on OppFi v. Hewlett Tentative California Superior Opinion show art “True Lender” Doctrine Back in the Spotlight: Key Takeaways on OppFi v. Hewlett Tentative California Superior Opinion

Consumer Finance Monitor

The latest episode of the Consumer Finance Monitor Podcast being released today tackles one of the most consequential developments in bank–fintech litigation in recent years: the Los Angeles Superior Court’s tentative decision in Opportunity Financial, LLC v. Hewlett (read more ). This case squarely addresses the long-debated “true lender” doctrine which has for decades bedeviled banks and Fintechs and “bricks and mortar” non-banks that have entered into joint ventures with one another to engage in interstate lending programs which take advantage of interest rate exportation rights...

info_outline
Debt Sales 101 Mini-Series — Episode 3: Who Buys Debt and How Deals Are Structured show art Debt Sales 101 Mini-Series — Episode 3: Who Buys Debt and How Deals Are Structured

Consumer Finance Monitor

In Episode 3 of our Debt Sales 101 mini-series, we discuss who buys charged-off debt and how debt sale transactions are typically structured. We explain how different buyers specialize in different asset classes and how buyers evaluate portfolios from legal, regulatory, and commercial perspectives.    From a buyer’s perspective, purchasing debt is not just a credit decision. Buyers are underwriting legal and regulatory risk as much as they are underwriting expected recoveries. In this episode, we discuss the key factors buyers consider, including transferability and chain of...

info_outline
DIDMCA Opt-Outs Resurface: Oregon Legislation and the Colorado Case Could Alter the Landscape for Interstate Lending by State Banks show art DIDMCA Opt-Outs Resurface: Oregon Legislation and the Colorado Case Could Alter the Landscape for Interstate Lending by State Banks

Consumer Finance Monitor

In this episode of the Consumer Finance Monitor Podcast, host Alan Kaplinsky is joined by colleagues Pilar French and Burt Rublin to unpack a rapidly evolving issue at the intersection of bank–FinTech partnerships and interstate lending: the renewed exercise of state opt-out authority under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). Colorado enacted an opt-out statute in 2023 that is the subject of ongoing litigation before the entire Tenth Circuit Court of Appeals, and very recently the Oregon Legislature passed an opt-out bill as...

info_outline
 
More Episodes

Today, we released a new episode of the award-winning Consumer Finance Monitor Podcast examining one of the most significant recent federal developments in the fight against scams and fraud: Executive Order 14390.

Hosted by Alan Kaplinsky (the founder, chair for 25 years and now Senior Counsel in the Consumer Financial Services Group), the episode features returning guests Kate Griffin and Nick Bourke of the Aspen Institute, who previously joined the podcast to discuss Aspen’s landmark report, United We Stand: A National Strategy to Prevent Scams.  

Why This Episode Matters

Scams and fraud continue to impose staggering losses on American households, businesses, and financial institutions. As discussed in the episode, the Aspen report framed scams as a “whole-of-society” problem requiring coordination across government, financial institutions, technology companies, telecom providers, and civil society.

The new Executive Order appears to respond directly to that challenge by calling for:

  • A coordinated federal anti-scam strategy
  • Greater inter-agency cooperation
  • Enhanced public-private information sharing
  • Increased disruption of transnational scam networks
  • Stronger victim restitution and recovery efforts
  • More aggressive international enforcement tools, including sanctions and diplomatic pressure

In many respects, the Executive Order may represent the first serious federal attempt to build a national strategy to combat scams.

Key Themes Explored in the Episode

During the discussion, Kate Griffin described the Executive Order as the “starting gun” in the race against scams—an important signal that the federal government is now treating scams as a national priority.

Nick Bourke emphasized that success will require more than enforcement alone. He noted that regulators, financial institutions, telecom carriers, and digital platforms must be empowered to share information and intervene more effectively when suspicious activity is detected.

The conversation also examined:

  1. Coordination Across Government

The Executive Order relies heavily on the federal government’s National Coordination Center framework to align agencies such as the Departments of Treasury, State, Justice, and Defense. Whether that coordination translates into meaningful operational change remains to be seen.

2. Information Sharing and Safe Harbors

The guests explained that one of the largest barriers to scam prevention is the inability of private-sector participants to share threat intelligence quickly because of privacy, litigation, or antitrust concerns. Legislative or regulatory safe harbors may ultimately be necessary.

3. Targeting the Scam Business Model

Rather than focusing solely on individual fraudsters, the discussion stressed the need to undermine the economics of scams—making them harder, riskier, and less profitable for criminal enterprises to operate.

4. Victim Restoration

A particularly notable feature of the Executive Order is its call for a victim restoration program, which could help return seized assets to scam victims more efficiently.

5. Modernizing Law Enforcement Tools

The guests also highlighted the need to modernize legacy federal databases such as FBI and FinCEN reporting systems, many of which were designed before today’s high-speed digital scam environment.

What Comes Next?

While the Executive Order is an important milestone, the guests agreed that additional action will be needed from Congress, regulators, and the private sector. A successful anti-scam strategy will likely require:

  • Clearer legal pathways for data sharing
  • Better consumer reporting systems
  • Greater use of AI and analytics
  • International cooperation
  • Faster prosecutions and asset recovery
  • Ongoing public education efforts

Bottom Line

This episode makes clear that scams are no longer simply a consumer-protection issue, they are now a national economic security issue. The White House has taken an important first step, but whether the Executive Order produces meaningful results will depend on execution, follow-through, and sustained cross-sector collaboration.

Consumer Finance Monitor is hosted by Alan Kaplinsky, Senior Counsel at Ballard Spahr, and the founder and former chair of the firm's Consumer Financial Services Group. We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.