Tag: UDAAP

CFPB – Rescinds Abusiveness Policy Statement to Better Protect Consumers – Dated March 11, 2021

Written by: Lloyd Rutherford, Staff Writer The CFPB is gearing up in another area of compliance and that is UDAAP [Unfair, Deceptive, or Abusive Acts or Practices].  Read this article to find out what has been rescinded from the previous administration. Rule Synopsis: The CFPB is changing it up! This policy announcement rescinds a policy […]

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CFPB Announces Policy Regarding Prohibition on Abusive Acts or Practices – Dated January 24, 2020

Written by: Lloyd Rutherford, Staff Writer There has been a lot of uncertainty as to what practices were considered “abusive” to consumers.  This update outlines the changes that have been made by the CFPB to help the industry consider their practices in business and marketing. Rule Synopsis: The CFPB (by way of this policy statement) […]

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