Payment Law Advisor Legal Commentary and Resources for the Payment Industry

“Abusive” Practices Under the UDAAP Prohibition

Posted in Regulatory Compliance/Federal Agencies Resources

In an effort to help companies better understand the implications of the Consumer Financial Protection Bureau’s enforcement actions involving allegations of abusive conduct taken under the authority of the Consumer Financial Protection Act of 2010, DWT Payments team member Adam Maarec, along with Laurie Lucas (associate professor of legal studies and William S. Spears Chair in Business Administration at Oklahoma State University) and John Morton (Member in Gordon Feinblatt’s Financial Services Practice Group), recently published a survey that offers analysis of those particular enforcement actions.

While this survey primarily focuses on actions alleging abusive acts and practices, such actions cannot be divorced from the collective UDAAP doctrine. Most enforcement actions that involve claims of abusive acts or practices are based on facts that also serve as the basis for allegations of unfair or deceptive acts or practices. When relevant, allegations of unfairness or deception are included in the discussion.

For additional resources related to UDAAP matters, please visit our UDAAP database.