Links in “UDAAP”
- UDAAP in a Nutshell
AffirmX's Jane Pannier provides an overview of unfair, deceptive or abusive acts or practices in a nutshell. [11/13]
- Senator Wants FTC to Step It Up Against Auto Dealers
Senator Edward Markey (D., Mass) urges FTC to take a more active role in policing auto dealers who use unfair or deceptive financing practices. [10/29]
- CFPB Goes Final on Remittance Rules
The goal is transparency, the obstacle is feasibility. Notwithstanding, the new rules go into affect 10/28/2013 and require disclosures, proper error resolution procedures and right of rescission on most remittances. Oh, and UDAAP issues are emphasized so anticipate analytics on FI remittance activities. [10/23]
- Overdraft Practices Lands Kentucky Institution in Hot Water
$3.6-billion Community Trust Bancorp discloses the Fed Reserve is preparing to fine it for unfair and deceptive methods of assessing overdraft fees. [10/14]
- CFPB’s 4 Ds: Nifty Catchphrase, But No New Surprises
UDAAPs, debt collection practices, fair lending, and payday loans have been on the CFPBâs radar for some time. [9/30]
- FTC Files on Payday Lending and Indian Tribe Settlement
Amicus brief filed and other charges focus on UDAAP issues and impact of settlement requirements through Indian Tribes when actions of consumers are via internet and not on tribal lands. [9/27]
- Another Day, Another Penalty: JPMC for ID Theft Product
The $60 million penalty along with referenced $300 million restitution focuses on an identity theft product that failed to deliver on all full benefits. The UDAAP principle in play merits review. [9/20]
- Chicago-area Banks Feeling Heat of Reg. E Scrutiny and Enforcement
Banks in Chicago region report that examiners have been spending inordinate amount of time on Reg. E, resulting in civil money penalties for a variety of activities considered "unfair and deceptive." [9/5]
- Is the Regulatory Lean on Banks Servicing Payday Lenders a Sign of Things to Come
Is the recent pressure exerted by regulators for practices it doesn't consider fair, but can't prove illegal or unsafe, a harbinger of things to come? [8/30]
- CFPB Files Against Deception and Illegal Fees
Nationwide debt-settlement company charged with deception and illegal fees. "No Upfront Fees" and "Debt free in Months" turn out to be far from reality. [8/21]
