Today's Trends in Credit Regulation

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.

December2022/January 2023

Time Is of the Essence: Hidden Time Limits in Statutory Requirements

By Eric D. Mulligan

If a law requires you to do something, it's a good idea to assume that you don't have an unlimited amount of time to do it—after all, an obligation without a time limit isn't really an obligation. A well-written law will specify any time limit expressly but, as we all know, not every law is well-written. article continued

Seller Beware: Avoiding Negative Attention on Your Negative Option Contracts

By Justin B. Hosie and K. Dailey Wilson

Remember that magazine you subscribed to years ago that comes once a month and usually winds up in the recycling bin? You probably didn't think you were subscribing to the magazine for the rest of your natural life but here you are, and you have no idea how to cancel the subscription. It's happened to us all and federal and state regulators are taking note. article continued

CFPB Bites of the Month - January 2023 - May Old Compliance Acquaintances be Forgot

By Eric L. Johnson and Justin B. Hosie

In this month's article, we share some of our top "bites" for the prior month covered during the January 18, 2023, webinar.

Bite # 8: The CFPB Publishes Civil Penalty Inflation Adjustments Rule in Federal Register

On January 3, 2023, the CFPB announced the adjustments for inflation for the maximum amount of each civil penalty within the CFPB's jurisdiction. article continued

Is Overdraft and NSF Income at a Tipping Point?

By Thomas P. Quinn, Jr.

Many things in life are subject to recalibration and reconsideration. For some of us, the run that used to be an easy jog in your twenties is difficult in your thirties, painful in your forties, and unthinkable by fifty. When you grow older, your perspectives on things might change from what they were in your salad days. As life wears on, you evolve. article continued

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