Can Recent Enforcement Actions Provide Guidance On The CFPB’s Position On UDAAPs?
FDCPA Defense
MARCH 2, 2014
The Dodd-Frank Act gave the Consumer Financial Protection Bureau (“CFPB”) sweeping authority to prohibit the use of “unfair, deceptive or abusive” acts or practices (“UDAAPs”) in connection with the collection of consumer debts. These terms are broadly defined to provide the CFPB with maximum flexibility when carrying out its consumer protection mission.
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