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.
For those interested in all things "Interest" related, we provide a summary of recent state and federal court cases involving usury, finance charges, and interest rates, as they relate to the consumer and commercial credit industries. Please look for our next edition towards the end of fall. article continued
The Equal Credit Opportunity Act (the "Act") and its implementing regulation, Regulation B ("Regulation B," and together with the Act, "the ECOA") prescribes the federal requirements for adverse action notifications. In addition, the Fair Credit Reporting Act (the "FCRA") requires a user to provide notice of adverse action when the user takes adverse action on a consumer based upon on information, whether in whole or in part, from a consumer report. article continued
This is the first in a series of "Bigger Bite" articles, where the authors will add some additional thoughts and commentary to one of the "Bites of the Month" from their webinar and article series. In this one, Justin Hosie and team address the FTC's proposal addressing personalized pricing. article continued
It would not surprise those involved in the financial services industry to hear there can be tension between compliance requirements and the increasingly tech-focused process in which products are offered. What can come as a surprise, however, is that the compliance requirements can include something as prohibitive as an in-state office requirement. article continued
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