News

December 18, 2018

Partner Michael Benoit provides post-election thoughts on the future of financial services legislation and regulation for Auto Finance News

In the December issue of Auto Finance News, Hudson Cook Chairman Michael Benoit shares his ideas on how the new Democrat-controlled House will affect future legislation in the financial services sector. According to Michael, all indicators point to bipartisan support for converting the Bureau of Consumer Financial protection (BCFP) to a commission, with both sides recognizing the value of a stable and relatively predictable BCFP. But a divides Congress does not bode well for new financial services legislation.

Michael is chairman of Hudson Cook, LLP and a partner in the firm's Washington, D.C. office. He advises banks, sales finance companies, auto dealers, leasing companies, mortgage lenders, and other creditors and technology providers on a wide range of consumer financial services law, and provides federal legislative and regulatory advice and support to financial services trade associations. Michael assists CFPB-regulated clients in preparing for supervisory exams, and represents clients in investigation and enforcement matters involving the Federal Trade Commission and the Consumer Financial Protection Bureau.

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