Small Dollar Lending and Alternative Consumer Financial Services

Federal & State Compliance

Lawyers in Hudson Cook, LLP's Small Dollar Lending and Alternative Consumer Financial Services practice area have decades of combined experience assisting clients in the following industries with federal and state compliance:

Consumer Lenders
Lease-Purchase Providers
Internet Lenders
Lead Generators
Open-End Credit Providers
Bank Servicers
Buy Now, Pay Later Providers
Check Cashers
Credit Service Organizations
Installment Lenders
Money Transmitters
No-Cost Advance Providers
Pawnbrokers
Payday Lenders
Payment Processors
Rent-to-Own Providers
Sales Finance Companies
Small Dollar Lenders
Retail Installment Sellers
Tax Refund Providers
Title Lenders
Wage Advance Providers

Lawyers in this practice area advise clients on federal and state lending and consumer protection laws, including:

Americans with Disabilities Act
CFPB UDAAP Rulemaking on Payday, Title, and High-Cost Installment Loans
E-Commerce: E-SIGN Act and the CAN-SPAM Act
Dodd-Frank Wall Street Reform and Consumer Protection Act and UDAAP activities
Electronic Fund Transfer Act and Regulation E
Equal Credit Opportunity Act and Regulation B
Fair Credit Reporting Act and Regulation V
Fair Debt Collection Practices Act and state collection practices acts
Federal Trade Commission Act
Federal Trade Commission Credit Rules
Gramm-Leach-Bliley Act and the Privacy and Safeguards Rules
Military Lending Act
Servicemembers Civil Relief Act and comparable state laws
State consumer protection laws
State licensing
State direct loan laws, including usury statutes, interest statutes, finance lender laws, small loan laws and consumer credit codes
State lease-to-own statutes
State pawnshop statutes
State tax refund anticipation loan statutes
State title lending statutes
Telemarketing and Consumer Fraud and Abuse Prevention Act and the Telemarketing Sales Rule
Telephone Consumer Protection Act and implementing Federal Communications Commission regulations
Truth in Lending Act and Regulation Z

Lawyers in this practice area assist clients with various aspects of their business, including:

Compliance Management Systems
Preparing consumer protection policies
Reviewing and updating compliance procedures
Advertising and website review
Assisting with training and oversight materials
Assisting with regulatory examinations
Providing guidance on new-product development
Obtaining regulatory guidance, non-enforcement opinions, and regulatory sandbox guidance
Plain language drafting revisions
Advising on consumer complaint risks
Preparing consumer disclosures and documentation
Resolving regulatory matters
Engaging in due diligence of compliance with consumer protection laws
Drafting consumer protection risk factors for investor filings
Preparing compliance assessments and gap analysis
Providing third-party compliance opinions
Advising on day-to-day compliance questions
Assisting in obtaining state licenses
Updating commercial agreements to include consumer protection requirements
Preparing state law surveys
Regulatory and litigation risk remediation