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Actions shed light on UDAAP’s ‘abusive’ standard
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Case Law
Tuesday, April 28, 2015
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The Consumer Financial Protection Bureau’s regulatory reach under its authority to enforce against “unfair, deceptive or abusive acts or practices” has been a source of frustration and contention within the industry, especially regarding the once-ambiguous definition for abusive. Recent enforcement actions from the bureau, however, have started to shed light on the standard.
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