Consumer Credit and Privacy Compliance
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Hudson Cook Insights
Today's Trends in Credit Regulation
California DFPI Proposes Regulations Governing Providers of Small Business Finance
By Catherine M. Brennan and Katherine C. Fisher
On August 18, 2021, the California Department of Financial Protection and Innovation ("DFPI") released draft regulations and an invitation for comments under the California Consumer Financial Protection Law ("CCPL"). The CCPL gives the DFPI authority to define and enforce a new "abusive" standard against providers of small business finance. article continued
CFPB Bites of the Month - August Top 10
By Eric Johnson and Justin Hosie
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. In this month's article, we share some of our top "bites" covered during the August 18 webinar. article continued
State Regulator Pursues Disparate Impact in Auto Finance
By Laura J. Bacon and Nicole F. Munro
Players in the auto finance industry have been watching the Consumer Financial Protection Bureau ping-pong over the last several years regarding disparate impact theories under the Equal Credit Opportunity Act. The disparate impact theory allows for discrimination claims when a law, policy, or procedure appears neutral on its face but, when applied, results in adverse effects on members of protected classes. article continued