Partner Michael D. Waters was quoted in The Birmingham News in a July 16 story titled "New Finance Rules May Take Years," which focused on the federal financial reform bill that passed the U.S. Senate July 15. In this article, Mr. Waters, co-chair of the firm's Banking & Financial Services Practice Group, outlines changes bank customers can expect in the following years due to the new regulations, including clearer language in consumer loans, tougher laws on interactions between debt collectors and delinquent loan customers, and harsher penalties on lenders and debt collectors who violate the new regulations.