Update: This event has already occurred. Please visit the presentation above to view the recorded webinar.
As the Consumer Financial Protection Bureau (CFPB) continues to flex its enforcement muscles, regulated entities must be aware of and comply with the Dodd-Frank Act's prohibition against unfair, deceptive, or abusive acts or practices (UDAAP), or face the prospect of substantial penalties. The evolving interpretation of this relatively new and vaguely worded law, however, makes compliance challenging. During this program, our panel examines the statute and how it has been applied and interpreted. The discussion is led by Venable partner Allyson Baker, a former CFPB Enforcement Attorney who now represents banks and nonbanks in CFPB investigations. Among other things, topics addressed include:
- The types of acts the CFPB has considered to be UDAAP violations.
- The nature of the penalties imposed by the CFPB for UDAAP violations.
- Tips for identifying and remediating potential UDAAP violations.
This session focuses on providers of consumer financial products and services and their service providers, including advertisers, in such markets as student loans, mortgage servicing, auto lending, small-dollar lending, consumer reporting, consumer credit and related services, money transmission and check cashing, prepaid cards, debt collection, and debt relief services.
Participants are encouraged to engage in the conversation by submitting questions throughout the live event and will receive a copy of the presentation and other materials following the webinar.
Allyson B. Baker, Esq., Partner, Venable LLP
Visit the UDAAP event page for more information.