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.
Last Week, This Morning
Key developments from the past week in consumer and commercial finance and privacy law.
CFPB Proposes Rule Clarifying Applicability of FCRA to Data Brokers
Agencies Issue Joint Statement on Elder Financial Exploitation
FHA Revises Requirements for Mortgagees' Reporting of Cyber Incidents to HUD
FHA Issues Guidance for Implementing HUD's Final Rule Requiring Mortgagees to Conduct Meetings with Borrowers in Default
New York Prohibits Imposition of Certain Fees at Expiration of Motor Vehicle Lease Term
New York Amends Telemarketing Laws
FTC Files Complaint Against Provider of Small Business Financing
FDIC Updates Risk Management Manual of Examination Policies
CFPB Final Rule Establishes Its Supervisory Authority over Providers of Digital Consumer Payment Applications
Pennsylvania Extends Lemon Law to Motorcycles
HUD Extends Compliance Date for Certain Provisions of Final Rule Requiring Mortgagees to Conduct Meetings with Borrowers in Default
CFPB Report Analyzes Whether State Privacy Laws Provide Adequate Protection of Consumers' Financial Data
Texas Revises Motor Vehicle Installment Sales Rules
California Privacy Protection Agency Investigates Data Broker Compliance with Delete Act
CFPB and DOJ Study Finds Differential Treatment in Small Business Lending Market
Hudson Cook Insights
Today's Trends in Credit Regulation
Federal Trade Commission Sues Business Financing Company for Allegedly Misleading Consumers
By Eric D. Mulligan
On November 4, 2024, the Federal Trade Commission sued Seek Capital, LLC, and Roy Ferman, Seek's founder and CEO, for allegedly violating several federal laws, including Section 5 of the Federal Trade Commission Act ("FTC Act"), the Telemarketing and Consumer Fraud and Abuse Prevention Act, the Telemarketing Sales Rule ("TSR"), and the Consumer Review Fairness Act of 2016 ("CRFA"). article continued
Court Allows Claim that Purchase of Ancillary Product Was Condition of Credit to Proceed, Based on Alleged Verbal Representation
By Latif Zaman
The advertising, sale, and financing of products ancillary to a credit transaction have been areas of regulatory scrutiny for years. Likewise, the always crucial question of what constitutes a cost of credit to be included in the finance charge has only grown in importance. A recent case before a federal district court touched on both topics. article continued
To Be or Not To Be: Challenge to the FTC's CARS Rule Is Ripe for the Fifth Circuit to Decide
By Julia K. Whitelock
On October 9, 2024, the U.S. Court of Appeals for the Fifth Circuit heard oral arguments on the challenge by the National Automobile Dealers Association and the Texas Automobile Dealers Association ("Petitioners") to the Federal Trade Commission's Combating Auto Retail Scams Trade Regulation Rule. article continued