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CFPB Looks at Unfair, Deceptive or Abusive Acts and Practices

By Staff Writer June 14, 2019

The Consumer Financial Protection Bureau says its first symposium will be held on June 25, the first of a series announced earlier this year that will focus on the Dodd-Frank Act’s prohibition on abusive acts or practices.

The symposium will be webcast on the Bureau’s website.

The Dodd-Frank Act authorizes the Bureau to take enforcement, supervision, and rulemaking actions concerning unfair, deceptive, or abusive acts and practices (UDAAP). The meaning of abusiveness is less developed than the meaning of unfair or deceptive, which has been defined substantially by the Federal Trade Commission Act.

The symposium will provide a public forum for the Bureau and the public to hear various perspectives on the meaning of abusiveness.

This first symposium will have two panels of UDAAP experts. The symposium will also include remarks by CFPB Director Kathleen L. Kraninger and CFPB Deputy Director Brian Johnson.

The first panel will include a discussion with leading academic experts in the area of Consumer Protection on various policy issues relating to the abusive standard under Dodd-Frank.

The second panel will examine how the abusive standard has been used in practice, and will include leading legal experts in the field.

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Last modified on Friday, 14 June 2019 13:25

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