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 December 27, 2022, New Jersey's Attorney General and Office of Consumer Protection and Yellowstone Capital, LLC and several other associate companies signed a consent order to resolve a lawsuit that alleged violations of the New Jersey Consumer Fraud Act and Regulations Governing General Advertising. article continued
I hope that many of you were able to power down during the holidays before ramping up again to start 2023. The FCC, however, maintained a busy pace of announcements, releasing news on several issues regarding the Telephone Consumer Protection Act. This is a good time to check in with the FCC to see what it has been up to. article continued
In this month's article, we share some of our top "bites" for the prior month covered during the February webinar.
Bite #10: CFPB Reports that Banks' Overdraft/NSF fee Revenue Declined Significantly Compared to Prior Year and Pre-Pandemic Levels article continued
The Consumer Financial Protection Bureau recently proposed a rule that would establish a public registry of supervised nonbanks' terms and conditions in "take it or leave it" form contracts that claim to waive or limit consumer rights and protections, like bankruptcy rights, liability amounts, arbitration rights, or complaint rights. If finalized, larger participants operating in automobile financing, among other larger participants, would be subject to the rule. article continued
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