Post Tagged with: "Hudson Cook"

CFPB Actions Expected to Slow Amid Leadership Change [PODCAST]

CFPB Actions Expected to Slow Amid Leadership Change [PODCAST]

The Consumer Financial Protection Bureau is not expected to be in a “holding pattern” in the long term, following the acting director leadership showdown, said Lucy Morris, partner in the Washington, D.C., office of Hudson Cook LLC. “I don’t think things will stop, but I do think there will beRead More

Is an Effort Afoot to Improve Repo Communications?

Is an Effort Afoot to Improve Repo Communications?

In the September issue of the Consumer Financial Protection Bureau’s Supervisory Highlights — in which CFPB supervision staff reports on issues they are seeing in the context of examinations — the staff addresses one of the more axiomatic and frustrating realities facing creditors — trying to retract a repossession order.Read More

Compliance Insider: The Cynic Returns

Compliance Insider: The Cynic Returns

You may recall that last month I wrote about how a cynic might view the Consumer Financial Protection Bureau’s arbitration rule and its corresponding ban on class-action waivers in predispute arbitration agreements. My cynic held the view that the rule, while purporting to be only a ban on waivers, wasRead More

Compliance Insider: Write a Rule

Compliance Insider: Write a Rule

On March 9, Consumer Financial Protection Bureau Director Richard Cordray addressed the CBA Live conference in Phoenix. He focused on the successes he perceives in the agency, i.e., improved supervision processes, the consumer complaint portal, and increased transparency through vehicles such as its periodic Supervisory Highlights. He also defended theRead More

Compliance Insider: Nobody Likes a Bully

Compliance Insider: Nobody Likes a Bully

The Consumer Financial Protection Bureau is under increasing fire for its questionable fair lending enforcement activities, both in the media, and in the U.S. Congress. It’s about time that both groups started asking questions, and it’s time the American public started weighing in as well. There is much good theRead More

Keep an Eye on CFPB Examiners — Literally

Keep an Eye on CFPB Examiners — Literally

Keeping an eye on examiners from the Consumer Financial Protection Bureau – literally, keeping an eye on them —  could be a new experience for non-bank auto lenders, which become subject to CFPB examination effective Aug. 31. A trio of experts in a recent webinar hosted by the Center forRead More

Buy Here, Pay Here: What to Do if the CFPB Comes Knocking

Buy Here, Pay Here: What to Do if the CFPB Comes Knocking

This week, the Consumer Financial Protection Bureau leveled an $8 million civil penalty fine against Phoenix-based DriveTime Automotive Group, the nation’s largest “Buy here, pay here” dealership.