Consumer Credit and Privacy Compliance
Online research tools to manage compliance with federal and state laws and regulations
CounselorLibrary.com, LLC, an affiliate of the law firm of Hudson Cook, LLP, is the leading compliance resource for the consumer financial services and privacy industries, providing comprehensive coverage and analysis of federal and state laws, regulations, and litigation. Select a category below, or view all products.
Last Week, This Morning
Key developments from the past week in consumer and commercial finance and privacy law.
U.S. Supreme Court Remands Case to Second Circuit, Finding It Did Not Conduct Sufficient Preemption Analysis Concerning New York’s Interest-on-Escrow Law
FHA Publishes FAQ Regarding Reimbursement of Attorney’s Fees for Foreclosures Filed in Court Due to Presence of Subordinate FHA Lien in States Where Non-Judicial Foreclosure Is Preferred Method
CFPB Seeks Information on Mortgage Closing Costs
Oregon Requires Registration of Data Brokers
Florida Requires Financial Institutions to Protect Older or Vulnerable Adults from Financial Exploitation
Buy Now, Pay Later Providers Now Considered Credit Card Issuers Under Reg. Z
CFPB Sues FinTech Company for Alleged Deceptive Practices and for Allegedly Misrepresenting Loan Costs
CFPB Issues Consent Order Against Student Loan Debt Relief Telemarketer
Colorado Enacts Artificial Intelligence Act
Colorado Enacts Law Governing Mortgage Servicer’s Disbursement of Insurance Proceeds to Borrower in Event Property Is Damaged
Minnesota Makes Failure to Disclose Mandatory Fees or Surcharges in Advertising Deceptive Trade Practice
Supreme Court Upholds CFPB Funding Structure, Clears Way for Payday Lending Rule Implementation
Financial Stability Oversight Council Releases Report on Nonbank Mortgage Companies
Maryland Commissioner of Financial Regulation Settles Charges Against FDIC-Insured Non-Maryland State Bank and Its Non-Bank Service Providers for Lending Without State License
New York DFS Develops Model Template to Assist Licensees with Compliance with Cybersecurity Regulation
Maryland Enacts Laws Relating to Prohibited Information in Consumer Credit Reports
Hudson Cook Insights
Today's Trends in Credit Regulation
Company Violates Mortgage Law by Holding Servicing Rights without License
By Clayton C. Swears
It is usually no surprise to companies operating in the financial services space that they may need a state license to make or service consumer loans. That is particularly true when the loans are highly regulated residential mortgage loans. article continued
AAA Makes Changes in Attempt to Reign in Mass Arbitration
By Eric L. Johnson
Ever heard of "mass arbitration"? If you haven't heard of that term, you may be lucky. By rule of thumb, a "mass" of something isn't necessarily a good thing (unless it's a mass of tacos on my plate). If you have heard of mass arbitration or been subjected to a mass arbitration, help may be on the way from the American Arbitration Association. article continued
CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May
By Justin B. Hosie, Eric L. Johnson and Kristen Yarows
In this month's article, we share some of our top "bites" covered during the May 2024 webinar. article continued
To Litigate or to Arbitrate: That Is the Question!
By Gabriela I. Chambi and Julia K. Whitelock
You've been sued by a consumer. Now what?
First things first: What are your business's priorities regarding how and where the dispute is resolved? Should the dispute be resolved by a court, or could it be resolved through arbitration? article continued