Welcome to Hudson Cook Insights - a collection of articles written each month by the attorneys of Hudson Cook, LLP, in an effort to keep their clients and other compliance professionals informed about current trends and developments in consumer credit finance that will affect the way they do business.
On May 1, 2026, the Consumer Financial protection Bureau ("CFPB") issued a new final rule implementing Section 1071 of the Dodd-Frank Act (the "1071 Rule"). The new rule replaces the 2023 version of the rule, which was delayed by court challenges, and had a postponed effective date. article continued
State credit regulators take center stage this month: the Illinois Department of Financial and Professional Regulation, the Massachusetts Division of Banks, the New Hampshire Banking Department, and the South Carolina Department of Consumer Affairs all announced enforcement actions over issues such as usury, unlicensed activity, and excessive fees. article continued
In this month's article, we share some of our top "bites" covered during the May 2026 webinar. article continued
I frequently write about court decisions involving revenue-based financing ("RBF" also commonly referred to as "sales-based finance" or "merchant cash advance") because these decisions are the primary basis on which we determine how revenue-based financing transactions must be structured and how RBF contracts should be written. article continued
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