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.
Motor vehicle purchase and finance transactions are rarely simple, even if they're routine from the perspective of the businesses involved. The typical motor vehicle retail installment transaction features the buyer, the seller, and, in most cases, the assignee of the retail installment sale contract. If the buyer trades in a vehicle and there's a lien on the trade-in, then add that lienholder. That's just the sale and financing. article continued
The Consumer Financial Protection Bureau recently delivered its Consumer Response Annual Report for 2024, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The report includes analyses of complaints across multiple consumer financial products and services. article continued
In this month's article, we share some of our top "bites" covered during the June 2025 webinar. article continued
On June 20, 2025, Texas Governor Greg Abbott signed House Bill 700, which regulates sales-based financing transactions and requires providers and brokers of sales-based financing transactions to register with the Texas Office of Consumer Credit Commissioner. The law also bans sales-based financing providers from automatically debiting customer bank accounts in most circumstances. The law will go into effect on September 1, 2025. article continued
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