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.
2020 Financial Services Conference
April 19-21, 2020
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Hudson Cook Insights
Today's Trends in Credit Regulation
The California Consumer Privacy Act
By Patricia E.M. Covington, Meghan Musselman, and Nora Udell
The California Consumer Privacy Act of 2018 ("CCPA") was signed into law on June 28, 2018 and will take effect on January 1, 2020. The enforcement date - the first date on which the Attorney General may bring an enforcement action under the CCPA - is July 1, 2020 or six months after the publication of the Attorney General's final regulations, whichever is sooner. As of today, the Attorney General's regulations have not been released and several amendments to the CCPA are pending before the California legislature, leaving much uncertainty surrounding compliance with the law. article continued
Regulation of Student Loan Servicers - A Review of 2019 Legislation Enacted in Colorado, Maine, Maryland, and Nevada
By Ryan S. Stinneford and Thomas P. Quinn, Jr.
The May 2019 issue of Insights provided high-level background information about the recent trend of state legislation targeting student loan servicers. In the June 2019 issue of Insights, we took a deeper dive into New York's Student Loan Servicers Law. In this third installment of our four-part student loan servicer series, we will take a look at student loan servicer laws enacted this year in Colorado, Maine, Maryland, and Nevada. article continued
"Clearly and Prominently:" Consumer Debt Settlement Disclosures in Wake of CFPB v. Freedom Debt Relief
By Catherine M. Brennan
The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The lawsuit raised four counts: two for deception under the Consumer Financial Protection Act of 2010 ("Dodd-Frank"), one for a violation of the Telemarketing Sales Rule ("TSR"), and one under the "abusive" authority created by Dodd-Frank. article continued
Are You Properly Vetting Your Service Providers?
By Eric L. Johnson
I'm frequently asked by dealer clients to speculate about whether they have their compliance house in order simply based on what DMS provider, underwriting or scoring system provider, or forms provider they use. "I'm using all of these great and well-known companies in the marketplace," they'll say. "What else can I do?" Well, a recent action by the Federal Trade Commission sheds more light on dealerships' use of service providers and should serve as a warning to dealers to properly vet (and continue to vet) their service providers. article continued