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Legal Framework for U.S. Consumer Regulatory Law

April 05, 2022 (2 min read)

The Bureau of Consumer Financial Protection (CFPB) has enforcement authority to penalize consumer financial service providers and their related persons who commit or engage in an unfair, deceptive, or abusive acts or practices (UDAAP) related to any transaction for a consumer financial product or service. Directly or indirectly engaging in discriminatory practices is classified as an “unfair” practice as well as other important areas discussed in this practice note.


Related Content        

  • Consumer Financial Protection Act Fundamentals
    Explore this practice note to gain an understanding of the federal consumer financial laws including the Consumer Financial Protection Act (CFPA), which prohibits UDAAPs, in connection with consumer financial products and services.
  • Unfair, Deceptive, or Abusive Acts or Practices Clauses
    Access these UDAAP clauses, which include practical guidance and drafting notes, for use in consumer mortgage broker agreements, automobile financing contracts, servicing agreements, and various contracts involving consumer financial products or services.


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