Consumer Credit and Privacy Compliance
Online research tools to manage compliance with federal and state laws and regulations
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Last Week, This Morning®
Key developments from the past week in consumer and commercial finance and privacy law.
Idaho Joins Arkansas in Enacting Law Restricting Use of Mortgage Trigger Leads
Texas Bill Would Cap Sales-Based Financing "Interest" at 18% a Year
Virginia Requires Dealers to Complete Buyer's Order for Vehicle Leases
California Privacy Protection Agency Takes CCPA Enforcement Action Against Auto Manufacturer for Alleged Violations of Consumers' Privacy Rights
AFSA Submits Comment Letter on CFPB's Proposed Auto Loan Survey
Utah Legislature Passes Earned Wage Access Services Law
Mortgage Loan Originators in Texas Required to Register with NMLS
Oregon Requires Consumer Finance License for Providers of Certain Private Education Loans and Income Share Agreements
California Rule Addresses Pro Rata Annual Assessment Payable by Licensed Debt Collectors and Contents of Their Annual Reports
Oklahoma Department of Consumer Credit Publishes UCCC Dollar Amount Adjustments Effective July 1, 2025
Massachusetts Finalizes Junk Fee Regulation
Wyoming Revises Consumer Rental-Purchase Agreement Act
Maryland AG Settles Unfair and Deceptive Trade Practices Claims Against Car Dealership
CFPB Dismisses Lawsuits Against Installment Lender and Operator of Zelle and Its Owner Banks
FTC Obtains TRO Against Affiliated Debt Collection Companies
Hudson Cook Insights
Today's Trends in Credit Regulation
New York Courts Appear Skeptical of Certain Fees in Sales-Based Financing Transactions
By Eric. D. Mulligan
On February 11, 2025, the Supreme Court of New York, Nassau County, ordered a hearing on whether a financing contract between Square Funding LLC and Walsh Roofing Services of Tampa Bay, LLC, was a "merchant cash advance" contract or a "predatory loan scheme." The order is an unusual move that may indicate a tendency in New York courts toward greater scrutiny of contractual fees in sales-based financing agreements. article continued
FCC's New Robocall One-to-One Consent Standard Postponed by FCC and Vacated by Court on Eve of Effective Date
By Michael A. Goodman
On January 24, 2025, three days before the Federal Communications Commission's new Telephone Consumer Protection Act "one-to-one" consent standard was due to take effect, the FCC issued an order postponing the standard's effective date, and the U.S. Court of Appeals for the Eleventh Circuit vacated the standard altogether. article continued
CFPB Bites of the Month - February 19, 2025 - CFPB, My Funny Valentine
By Justin B. Hosie, Eric L. Johnson and Kristen Yarows
In this month's article, we share some of our top "bites" for the prior months covered during the February 2025 webinar. article continued
FTC Proposes Largest Dealer Fine in Its History
By Daniel J. Laudicina
On December 19, 2024, the Federal Trade Commission announced a proposed $20 million settlement with Leader Automotive Group and its parent company, AutoCanada, to resolve claims brought by the FTC and the State of Illinois. The FTC and Illinois alleged that Leader systematically defrauded consumers by, among other things, deceiving consumers about the price and availability of vehicles, charging for add-ons without consumers' consent, imposing "junk fees," posting bogus reviews to mislead consumers as to Leader's reputation, and failing to disclose that U.S. customers were buying vehicles imported from Canada, which voided manufacturer's warranties. article continued