Mark E. Rooney, an attorney whose practice focuses on consumer litigation defense and government investigations in the financial services industry, has joined the Washington, D.C., office of Hudson Cook LLP.
The American Bar Foundation has named Hudson Cook co-founder Tom Hudson as a fellow, adding the carlaw practitioner to an elite group of attorneys, judges, law faculty, and legal scholars.
A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.
The editor wonders how regulators, including two new mini-CFPBs in Pennsylvania and Maryland, view a consumer advocacy group’s highly critical report on how dealers price F&I protections.
The new partner will establish the firm’s West Chester, Pa., office, and will be focused on state and federal consumer finance laws for banks and non-bank consumer credit providers.
Whatever you’ve heard about the Red Flags Rule, the FTC’s weapon against identity theft is still in play for most dealers. But there are some changes to consider.
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