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.
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this first article in the series, we share our top "bites" covered during our monthly webinar. We hope you can take this article "to-go" and dive in for another bite later. article continued
Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide health crisis, economic crisis, and childcare crisis. article continued
Crazy times, right? Chances are you've heard this refrain numerous times over the last seven months, most notably on Zoom calls during the crushing silence of someone on the call forgetting to unmute his or her microphone. Amidst these crazy times, a common question that touches everything we've done as compliance attorneys since March is how has the pandemic impacted consumer credit. article continued
The U.S. Department of Justice continued the pursuit of its civil rights initiatives aimed at enforcement of federal laws that protect servicemembers, veterans, and their families in September by settling with the City of San Antonio and three Florida towing companies for alleged violations of the federal Servicemembers Civil Relief Act and suing a Texas towing company on the same grounds. article continued
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