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 September 14, 2022, the New York Department of Financial Services (the "DFS") released proposed regulations implementing the New York Commercial Finance Disclosure Law (the "CFDL"). The proposed regulations are open to public comment until October 31, 2022. article continued
After a series of adverse decisions against revenue-based financing providers, the U.S. District Court for the Southern District of New York has given one provider a decisive victory and, in so doing, given the industry valuable guidance that should be required reading for those who craft revenue purchase agreements. article continued
In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the September 21, 2022 webinar.
So, what happened last month?
Extra Bite: CFPB comments on loan cancellation related to a for-profit college article continued
'Tis the season for returning to school and learning something new. When I was growing up, we learned the long multiplication algorithm by which you multiply numbers right to left, insert zeros along the way, write some leading digits on top rather than on the bottom, add some of those numbers for an intermediate answer, and then add those intermediate answers together to get the final answer. article continued
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