Consumer Credit and Privacy Compliance
Online research tools to manage compliance with federal and state laws and regulations
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Hudson Cook Insights
Today's Trends in Credit Regulation
I Remember Jack Tracey
By Thomas B. Hudson
I'll miss Jack Tracey. I first met him nearly 50 years ago when, as a young banker with a Pittsburgh bank, he had been recruited to stand up a consumer auto leasing program for Maryland National Bank. The law firm I was with represented the bank's consumer operations, and because no one at the firm knew much about auto leasing, I, as a relative newbie lawyer, was assigned to do Jack's legal work. article continued
Massachusetts About to Join the Ranks of States Licensing Student Loan Servicers
By Thomas P. Quinn, Jr.
The Commonwealth of Massachusetts is aiding student loan consumer protection efforts, and is ramping up the level of scrutiny applied to student loan servicers. Effective July 1st, it will join a growing list of states that require the licensure of parties that service student loans. article continued
CFPB Bites of the Month - Q&A with Lucy Morris: Takeaways from 10 Years
By Justin B. Hosie, Eric L. Johnson and Lucy E. Morris
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. With July 21, 2021 marking the 10-year anniversary of the CFPB opening its doors, we invited our colleague and former CFPB Deputy Enforcement Director, Lucy Morris, to join us for a Q&A on our June Bites. article continued
Voluntary Protection Products: A Matter of "Interest" for State and Federal Regulators
By Catharine S. Andricos
Voluntary protection products like credit insurance, debt protection, GAP, service contracts and motor clubs, have gained increased attention by state and federal regulators overseeing the consumer finance industry. Creditors' practices related to product cancellation and refunding of unearned product fees have been at the center of the regulators' crosshairs. article continued