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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Mortgage Law Compliance - Learn More
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Installment Law Compliance - Learn More
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2020 Financial Services Conference

April 19-21, 2020

Save the Date! Our seventeenth annual Conference will be held at the Baltimore Marriott Waterfront in Baltimore, Maryland. Details and online registration coming soon.

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Hudson Cook Insights

Today's Trends in Credit Regulation

New(ish) Technology and the CFPB's Proposed Debt Collection Rule

By Anastasia Caton and Nora Udell

On May 7, 2019, the Consumer Financial Protection Bureau ("CFPB" or the Bureau") released its Fair Debt Collection Practices Act ("FDCPA") Notice of Proposed Rulemaking ("Proposals") and Request for Public Comment. The Bureau will accept comments on the Proposals until August 19, 2019. While the Proposals will apply only to "debt collectors" as defined in the FDCPA (persons collecting debt owed or due another, or persons engaged in a business, the principal purpose of which is the collection of debt), the CFPB has taken a consistent position since its inception that it will enforce many provisions of the FDCPA against creditors collecting their own debts under its authority to prohibit unfair, deceptive, or abusive acts or practices ("UDAAPs"). article continued

Regulation of Student Loan Servicers: What's Out There, and What's Coming

By Eric D. Mulligan, Ryan Stinneford and Thomas P. Quinn, Jr.

States around the country continue to consider and enact laws and regulations to regulate student loan servicers and provide protections to student loan borrowers. Several states and the District of Columbia currently have laws on the books that regulate the activities of student loan servicers. In the next issue of Insights, we'll also take a closer look at the recently enacted provisions of New York's student loan servicing requirements that were passed as part of the 2019/2020 state budget. New York's requirements will become effective this fall. article continued

Welcome to the Sunshine

By Nicole F. Munro and Nora R. Udell

Life under a rock has its benefits - you probably don't get many houseguests, and you're never sunburned. But there are some drawbacks, too. The main one is that you definitely don't know what's been going on out here in the world of compliance. Well, it's spring here, and have we got some exciting not-so-new news for you! In the summer of 2013, the Consumer Financial Protection Bureau advised in its Supervisory Highlights that it expects a company to have an effective Compliance Management System, adapted to its business strategy and operations. article continued

Fixing Mistaken Repos

By L. Jean Noonan

Your company gets an irate call from a customer whose car you have just repossessed for non-payment. The caller is furious because he made a payment that was supposed to prevent a repossession. After you confirm the payment, you release the car and waive any repossession charges. All good. Or is it? Every client I know has experienced this situation. Upping your game to prevent mistaken repossessions and taking appropriate corrective action if one occurs have never been more important. This goes double if you are examined by the Consumer Financial Protection Bureau because you are a large bank or are subject to the CFPB's larger participant rule. The CFPB has repossession practices under a microscope, and one of its main concerns is mistaken repos. article continued

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