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.
Mortgage Company Settles HUD's Allegations that It Charged Unlawful Convenience Fees to Borrowers Using Certain Payment Methods
Maryland Office of Financial Regulation Issues Guidance and Emergency Regulations Concerning Licensing of Mortgage Trusts and Assignees of Mortgage Loans
New Jersey AG and Division of Civil Rights Issue Guidance on Algorithmic Discrimination
CFPB Issues Proposed Rule Prohibiting Certain Contractual Provisions in Contracts for Consumer Financial Products and Services
FTC Settles First Action Related to Connected Vehicle Data
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
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