Consumer Credit and Privacy Compliance

Online research tools to manage compliance with federal and state laws and regulations

CounselorLibrary.com, LLC, an affiliate of the law firm of Hudson Cook, LLP, is the leading compliance resource for the consumer financial services and privacy industries, providing comprehensive coverage and analysis of federal and state laws, regulations, and litigation. Select a category below, or view all products.

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Auto Law Compliance - Learn More
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Mortgage Law Compliance - Learn More
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Installment Law Compliance - Learn More
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2022 Financial Services Conference

November 7-9, 2022

Save the Date! Our eighteenth annual Conference will be held at The Westin Annapolis in Annapolis, Maryland. For more details and to register, click here. For sponsorship and exhibitor opportunities, click here.

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Hudson Cook Insights

Today's Trends in Credit Regulation

Let 'Em Out! ROSCA and Changes to California's Auto-Renewal Law

By Frank Conlon

What's this about? Auto-renewing arrangements are ubiquitous, from TV channel subscriptions to meal-kit delivery plans - and the regulators are interested. Late last year, the FTC and California took actions with respect to auto-renewing subscriptions. The FTC issued a policy statement in October 2021 and California's governor signed into law amendments to the state's Automatic Renewal Law (ARL) that same month. California's ARL amendments take effect in July 2022, so now's a good time to survey where things stand and what's to come for businesses offering auto-renewing products or services to California consumers. article continued

CFPB, State Regulators, and Courts Take Aim at Convenience Fees

By Anastasia V. Caton and Taylor Krowitz

The first half of 2022 has seen a flurry of activity at the state and federal level attempting to reign in "convenience fees" - fees charged by a creditor, debt collector, or third party to a consumer for making a payment via some means other than a check or cash, such as over the phone, online, or in some other expedited manner. Although state and federal regulators have scrutinized convenience fees in the past, the recent overt hostility at the state and federal level creates risk for creditors, servicers, and debt collectors who might ask a customer to pay those fees. article continued

SDNY Sustains RICO Claims Against Revenue-Based Financing Companies

By Katherine C. Fisher

In the last two months, the U.S. District Court for the Southern District of New York has issued three adverse decisions against revenue-based financing providers. In each case, the court sustained federal Racketeer Influenced and Corrupt Organizations Act ("RICO") claims against the funding companies or their principals. Each decision provides guidance on how to mitigate risk by updating contracts or adopting best practices. Providers of revenue-based financing must ensure that merchants can obtain reconciliations and that the daily or weekly payments disclosed in the contract represent a good-faith estimate of the merchant's future revenue. article continued

CFPB Bites of the Month - July Top 10

By Justin B. Hosie and Eric L. Johnson

In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the July 20 webinar.

So, what happened at the CFPB in the past month?

Bite #10 - The CFPB expressed concerns about credit reporting for Buy Now, Pay Later companies

On June 15th, the CFPB expressed concerns about the ways in which consumer reporting agencies planned to address buy now, pay later (BNPL) companies. Until recently, few BNPL lenders furnished information about consumers to the nationwide consumer reporting companies (NCRCs). article continued

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