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.
Georgia Amends Laws Governing Banking and Finance
Oklahoma Adds Mortgage Servicers to Definition of “Mortgage Broker” Requiring Licensure, Requires Registration of Branch Offices, Specifies Remote Office Requirements, and Sets Mortgage Licensing Fees
Alaska Targets Bank Partnerships with Predominant Economic Interest and Anti-Evasion Bill
FHFA Releases Fair Lending Final Rule
FHA Updates Reconsideration of Value Policy
CFPB’s Supervisory Highlights Edition Focuses on Mortgage Servicing
Mississippi Provides for Annual Adjustment of Maximum Loan Amount under which Mississippi Consumer Alternative Installment Loan Act Licensees May Impose Finance Charges Permitted Under Act
Freddie Mac Proposes Purchase of Single-Family, Closed-End Second Mortgage Loans as New Product
Virginia Adds Affidavit Requirement for Certain Subordinate Mortgage Lienholders Seeking to Foreclose and Timing Requirement for Foreclosure Sale Purchasers to Pay Off Priority Liens
Kansas Enacts Earned Wage Access Services Act and Money Transmission Act
CFPB Updates Supervision Designation Procedures for Nonbanks Posing Risks
Kansas Will Require Commercial Financing Transaction Disclosures
Massachusetts AG Issues Advisory on Applicability of State’s Consumer Protection, Anti-Discrimination, and Data Security Laws to Artificial Intelligence
AFSA Releases First Consumer Credit Conditions Index
CFPB Imposes Ban from Consumer Lending Activities and $164,000 Penalty on For-Profit Vocational School and Its Founder for Hiding Loan Costs from Students
Hudson Cook Insights
Today's Trends in Credit Regulation
New Kansas Law Will Require Disclosures for Commercial Financing Transactions
By Eric Mulligan
On April 12, 2024, Kansas Governor Laura Kelly signed SB 345, which establishes commercial financing disclosure requirements. The new law will take effect on July 1, 2024, and will apply to commercial financing transactions of $500,000 or less. article continued
CFPB Imposes Ban from Consumer Lending Activities and $164,000 Penalty on For-Profit Vocational School and Its Founder for Hiding Loan Costs from Students
By Julia K. Whitelock and Erik Kosa
The CFPB entered into a consent order with a for-profit vocational school that offered coding programs using income-share agreements ("ISAs") as tuition financing options. article continued
"Reducing Barriers to HUD-Assisted Housing": HUD NPR for Use of Criminal History in Tenant Screening and Termination At HUD-Assisted Properties
By Jay Harris
Under a Department of Housing and Urban Development (HUD) proposed rule published April 10, new procedural protections would apply to criminal history screening of rental applicants to HUD-assisted housing. article continued