Press & Speaking Engagments

March 7, 2025

https://www.americanbanker.com/news/cfpb-leaders-planned-to-gut-the-bureau-fire-1-175-employees

Katy Berry

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Although the leaders have indicated their plans to gut the Bureau by firing more than 1,000 workers, McCarthy Hatch Chairman, Jim McCarthy believes there are indications that  work is being done. ​

February 27, 2025

https://www.americanbanker.com/news/how-big-of-a-problem-is-debanking-no-one-knows-for-sure

Katy Berry

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​​The lack of uniform reporting requirements by financial regulators is a key reason why concrete data on debanking remains elusive, and in the absence of hard data, anecdotal evidence has become more widespread.  Jim McCarthy and McCarthy Hatch have seen fact patterns in their analysis of the CFPB complaints that back the debanking argument. ​

February 11, 2025

https://equipmentfinancenews.com/news/lender-operations/cfpb-pause-prompts-concern-of-regulatory-vacuum/

Vaidik Trivedi and Amanda Harris

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Lenders must be mindful of existing consumer law and state-level enforcement despite the current pause in enforcement activity by the CFPB.  Jim McCarthy notes that shuttering the CFPB would create a regulatory vacuum for large banks, while community banks and credit unions would remain under supervision by prodential regulators. 

February 03, 2025

CFPB’s Rohit Chopra fired, bureau activity paused - Bank Automation News

Vaidik Trivedi

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Although the removal of Director Chopra was expected with the new administration, the pause in activity could create consumer harm.  However, Jim McCarthy believes that some regulation, such as credit card interest rate caps may continue.  

January 14, 2025

https://bankautomationnews.com/allposts/retail/cfpb-claims-capital-one-kept-customers-in-dark/

Vaidik Trivedi

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The CFPB is suing Capital One for allegedly failing to inform customers about the superior interest rates of its 360 Performance Savings accounts compared to its older 360 Savings accounts. Jim McCarthy, a founding CFPB member, highlighted long-standing complaints against the bank and criticized the industry's approach to consumer feedback, noting that banks often resolve complaints without addressing systemic issues.

January 6, 2025

Recent CFPB rules face repeal with no return under Trump

Katy Berry

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The CFPB's finalized 1033 open banking rule mandates that banks share financial data at a consumer's request.  Jim McCarthy expressed confidence in the finalized rule and emphasized that the rule strikes a balance between fostering competition and ensuring the safety and security of personal financial information. 

December 10, 2024

https://www.americanbanker.com/news/the-cfpb-has-a-new-tool-to-examine-customer-service-at-banks

Claire Williams

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​Jim McCarthy and Asaf Buchner were recently interviewed by American Banker about the enhancements the CFPB has made to its complaint form.  The changes were made to gather insights on customer service issues at banks, particularly regarding requests for account-related information.

December 3, 2024

Opinion: Recent Critique of the CFPB Undermines Consumer Protections 

Jim McCarthy

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​McCarthy Hatch Chairman, Jim McCarthy defends the Consumer Financial Protection Bureau (CFPB) against critiques from a recent opinion piece by John Rossman published in insideARM, arguing it is vital for safeguarding consumers and ensuring fairness in financial markets.

October 31, 2024

McCarthy Hatch Unveils FSAi Risk Engine; New Report Highlights Elevated Risk Surrounding Auto Loan Origination and Servicing | Business Wire

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McCarthy Hatch announces the official launch of their Risk Engine FSAi. A cutting-edge AI-driven solution designed to help financial institutions stay ahead of regulatory risks. Additionally, McCarthy Hatch has published a new industry risk report, highlighting the automobile finance market. 

October 24, 2024

Banks are finally going to have to compete for your money

Rocio Fabbro

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McCarthy Hatch's Chairman, Jim McCarthy, was recently interviewed by Quartz about the CFPB's new open banking rule (1033).  The Rule requires   financial institutions to allow individuals to transfer their personal financial data to another provider for free.

September 18, 2024

https://www.wsj.com/livecoverage/fed-interest-rate-cut-inflation-live-09-18-2024/

Angel Au-Yeung

Jim McCarthy was recently interviewed by the Wall Street Journal for their article “Why a Fed Rate Cut Might Not Offer Much Relief on Credit-Card Bills”.  Jim's extensive background in consumer financial protection provides him with a unique view of how national events can impact consumers.​

September 18, 2024

Will Lower Interest Rates Help You Escape Credit Card Debt? Experts Say No, But You Sill Have Options

Katherine Fan

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Jim McCarthy was recently interviewed by Business Insider for their article: "Will Lower Interest Rates Help You Escape Credit Card Debt? Experts Say No, Bu You Sill Have Options." With Jim's years of experience at the CFPB, FDIC, and financial institutions, he has a deep understanding of how interest federal rates impact consumers.

August 23, 2024

https://www.americanbanker.com/news/banks-want-liability-risk-clarified-in-cfpb-open-banking-rule

Kate Berry

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The Consumer Financial Protection Bureau's proposed open banking rule is raising concerns within the financial services industry. The concern surrounds third-party risk management, and the parties that will be responsible for data breaches and fraudulent transactions. McCarthy Hatch Chairman Jim McCarthy lends his expertise in explaining why this may be a larger lift for the banks then they originally thought. 

July 19, 2024

https://bankautomationnews.com/allposts/retail/fifth-third-must-invest-in-tech-to-manage-regulatory-risk/

Vaidik Trivedi

On July 9, 2024, Fifth Third Bank was fined $15 million for account opening and sales accusations stemming from a 2020 CFPB lawsuit. McCarthy Hatch Chairman, Jim McCarthy weighs in on what he believes went awry in the Fifth Third processes, highlighting that automated, technical account activities should