Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) Update
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Understand the scope of Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) authority and learn practical solutions you can take to reduce the risk of becoming the CFPB’s next enforcement target.
Michael Canale and Vincent Urbancic provided an overview of UDAAP. They discussed the genesis of the rule, specific examples of types of UDAAP violations, restitution amounts over time, and the outlook of UDAAP; and provided a strong background on the rule and how regulators have used it to cite different violations and enforcement actions.
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