Today's Trends in Credit Regulation

Welcome to Hudson Cook Insights (formerly Basis Points) - a collection of articles written each month by the attorneys of Hudson Cook, LLP, in an effort to keep their clients and other compliance professionals informed about current trends and developments in consumer credit finance that will affect the way they do business.

June/July 2017
By Anastasia V. Caton and Chuck Dodge

On June 12, 2017, the U.S. Supreme Court issued its opinion in the case of Henson v. Santander Consumer USA, Inc. The case is significant not just because of its holding. The decision was unanimous, an increasingly rare occurrence. It was Justice Gorsuch's first opinion for the Court (he was silent at oral argument). And, it was the second landmark FDCPA decision this term (the first was Midland Funding, LLC v. Johnson, in which the Court held that filing a proof of claim on a time-barred debt in a bankruptcy does not violate the FDCPA).[more»]

By Lucy Morris

Under the Trump Administration, the Federal Trade Commission (FTC) has come under new leadership and, in the process, returned to its roots as a traditional law enforcement agency focused on deception and consumer harm. Maureen Olhausen, previously an FTC Commissioner, now leads the FTC as its Acting Chairwoman. She has appointed a new head of the FTC's Bureau of Consumer Protection, Tom Pahl, as the Acting Bureau Director. Previously, Pahl served in various roles at the FTC and Consumer Financial Protection Bureau (CFPB), and I had the pleasure of working with him at both agencies.[more»]

By Eric Mulligan

On April 6, the California Supreme Court held that an arbitration provision's pre-dispute waiver of the right to seek "public injunctive relief" under the Consumers Legal Remedies Act, the Unfair Competition Law, and the False Advertising Law was void as against public policy. The court held that the Federal Arbitration Act did not preempt the rule of California law that voided the waiver.[more»]

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A monthly, multi-faceted legal reporting service for legal compliance professionals and law firms in the consumer unsecured and personal property-secured lending industry interested in installment lending, student lending, payday lending, title lending, pawn transactions, prepaid cards, and open-end lines of credit, including credit cards.

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