November 9, 2017
Hudson Cook October 2017 Update
Hudson Cook - In the News
October was a busy month for Eric Johnson, a partner in the Oklahoma office of Hudson Cook. His article "Is Your Auto Finance Customer Taking You for a Ride?" appeared in the September/October edition of SubPrime Auto Finance News. The National Automotive Finance Association's magazine Non-Prime Times published Eric's article, "CFPB's New Arbitration Rule - What Do We Need to Know?" in its September/October issue. Eric is also quoted on the CFPB's new Arbitration rule in Compli and at PaymentsCompliance.com.
Patty Covington and Erik Kosa's article, "Congress Revives the Used Car Safety Recall Repair Act," appeared in the September/October issue of BHPH Report.
Partner Michael Goodman's article on text messaging and Telephone Consumer Protection Act (TCPA) compliance is featured in the October 2017 issue of Currents, the official publication of the Financial Service Centers of America (FiSCA). FiSCA is a national trade association that represents thousands of financial services providers from across the country.
MidAtlantic Dealer News published Tom Hudson and Nikki Munro's CARLAWYER article in its October issue.
Cathy Brennan, a partner in the firm's Maryland office, is quoted in a Debtwire article that published on October 16, discussing a bill in Congress that would reverse the Madden v. Midland ruling that would bring back liquidity to marketplace lending platforms and investors operating in the affected states of Connecticut, New York and Vermont. According to Cathy, recent comments by the acting Comptroller of the Currency reveal support for the bill from the Office of the Comptroller of the Currency (OCC) and why these comments may indicate that the agency is considering issuing its own guidance regarding the Madden ruling.
On October 26, Kate Fisher, a Hudson Cook partner, was one of several financial services professionals who addressed members of the House Subcommittee on Economic Growth, Tax and Capital Access recently on the role of online lending in improving small business capital access. Her testimony is highlighted in an October 30 article in Financial Regulation News. According to Kate, "Technology has allowed lenders to automate the lending process, leading to a less-burdensome application process. The existence of fintech lenders provides small businesses with the ability to quickly obtain capital needed for immediate operations."
Hudson Cook - On the Road
On October 2, Cathy Brennan chaired a panel discussion at the Frontiers of Digital Finance Conference, presented by the Columbia Business School, titled "Will Regulation Slow Financial Services Innovation?" The panel included Robert McKenna, partner, Orrick; Rishi Nangalia, managing director and global head of ETI Trading, Thomson Reuters; and Gagan Rai, managing director and CEO, NSDL e-Governance.
Erica Kramer and Dailey Wilson attended the Tennessee Bankers Association Women in Banking Conference in Nashville, Tennessee, on October 5. The conference - devoted to the development of Tennessee women banker leadership and designed to encourage, support and inspire women bankers - addressed topics such as assertive leadership and effective networking. While there, they had the opportunity to speak with many women involved in various leadership roles at their banks.
Hudson Cook was proud to be a Bronze Sponsor of the 2017 Financial Service Centers of America (FiSCA) Annual Conference & Exposition, held in Las Vegas, Nevada, from October 5-8. Three Hudson Cook partners - Blake Sims, Justin Hosie and Allen Denson - presented at the conference.
Allen was a panelist at the LEND360 conference held in Dallas from October 11-13. Kate Fisher, Bob Gage, Cathy Brennan and Blake Sims were also panelists at the conference. LEND360 is an annual event that exclusively focuses on the unique needs of online lending providers.
Allen, joined by Eric Johnson and Noral Udell, spoke at the National Alliance of Buy Here, Pay Here Dealers (NABD) Conference, held from October 23-25 in Orlando, Florida. The firm was a Platinum Sponsor of the conference, which covers all aspects of running a Buy Here, Pay Here motor vehicle dealership.
Hudson Cook hosted two successful webinars in October.
The first webinar, "First Takes on the CFPB Small Dollar Rule: What it Means for You" took place on October 10 and was presented by Cathy Brennan, Hurshell Brown, Allen Denson, Justin Hosie, Rick Hackett and Erik Kosa.
Later in the month, Allen, along with Lucy Morris, Jim Chareq and Anastasia Caton, presented a webinar called "State AGs: Enforcement Beyond the CFPB." More than 350 consumer finance professionals attended the webinar, which received positive feedback from clients. Lucy also presented shortened versions of the webinar at the American Financial Services Association annual meeting in Washington, D.C., and at the Association of Consumer Vehicle Lessors the following week.
Eric Johnson attended the fall meeting (October 18-19) of the Oklahoma Consumer Finance Association, one of the state's oldest and largest traditional installment lending associations. During the meeting, Eric, who serves as general counsel for the association, provided his General Counsel Legal Update.
Becki Kuehn, Jean Noonan and Cathy Brennan spoke at the American Bar Association's Eighth Annual National Institute on Consumer Financial Services Basics, held in Arlington, Virginia, on October 19 and 20.
A partner in the firm's Maine office, Ryan Stinneford, attended the bi-annual Finastra (formerly D+H, formerly Harland) federal and state counsel network conference in Santa Fe, New Mexico, and co-presented an ethics panel with the catchy title "Ethics Soup."