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.

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Last Week, This Morning

Key developments from the past week in consumer and commercial finance and privacy law.

CFPB Releases Final Rule Prohibiting Reporting of Medical Debts in Consumer Reports

State Regulators Impose $20 Million Penalty on Nonbank Mortgage Company and Three Affiliates for Deficient Cybersecurity Practices

CFPB Issues Policy Statements on No-Action Letters and Regulatory Sandbox Approvals

Massachusetts Attorney General Launches Usury Notice Filing Portal

California Department of Financial Protection and Innovation Announces Commercial Financing Reporting Requirements

CFPB Releases HMDA Report for 2023

FTC Limits Scope of Final "Junk Fees Rule" to Tickets and Lodging

CFPB Reports on Illegal Student Lending, Refinancing, Servicing, and Collection Practices

CFPB Announces Actions Involving Credit Cards

New York Requires DFS to Develop Pamphlet to Be Given to Mortgage Applicants

CFPB Obtains Settlement with Student Loan Debt Collector for Allegedly Delaying Default Rehabilitation Process to Acquire Collection Costs

CFPB Issues Advance Notice of Proposed Rulemaking on Coerced Debt

CFPB Adopts Overdraft Fee Rule Applicable to Large Financial Institutions

Justice Department and CFPB Send Letter to Financial Services Providers Regarding SCRA's Interest Rate Protections Available to Servicemembers

Foreclosure Moratoriums Extended for Properties Impacted by Hurricanes Helene and Milton

Hudson Cook Insights

Today's Trends in Credit Regulation

Federal Trade Commission Sues Business Financing Company for Allegedly Misleading Consumers

By Eric D. Mulligan

On November 4, 2024, the Federal Trade Commission sued Seek Capital, LLC, and Roy Ferman, Seek's founder and CEO, for allegedly violating several federal laws, including Section 5 of the Federal Trade Commission Act ("FTC Act"), the Telemarketing and Consumer Fraud and Abuse Prevention Act, the Telemarketing Sales Rule ("TSR"), and the Consumer Review Fairness Act of 2016 ("CRFA"). article continued

Court Allows Claim that Purchase of Ancillary Product Was Condition of Credit to Proceed, Based on Alleged Verbal Representation

By Latif Zaman

The advertising, sale, and financing of products ancillary to a credit transaction have been areas of regulatory scrutiny for years. Likewise, the always crucial question of what constitutes a cost of credit to be included in the finance charge has only grown in importance. A recent case before a federal district court touched on both topics. article continued

To Be or Not To Be: Challenge to the FTC's CARS Rule Is Ripe for the Fifth Circuit to Decide

By Julia K. Whitelock

On October 9, 2024, the U.S. Court of Appeals for the Fifth Circuit heard oral arguments on the challenge by the National Automobile Dealers Association and the Texas Automobile Dealers Association ("Petitioners") to the Federal Trade Commission's Combating Auto Retail Scams Trade Regulation Rule. article continued

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