Use this button to switch between dark and light mode.

Understanding UDAAP Compliance in Automobile Repossession

April 23, 2024 (3 min read)

According to a recent Compliance Bulletin issued by the Consumer Financial Protection Bureau (CFPB), examinations of lenders and loan servicers have uncovered violations of the unfair, deceptive, or abusive acts or practices (UDAAP), as defined under the Dodd-Frank Act, and other federal consumer protection laws during automobile repossession. The CFPB intends to hold lenders and loan servicers accountable for these UDAAP violations. Refer to this automobile repossession checklist, written by Dustin Alonzo of Hinshaw & Culbertson LLP, for a comprehensive understanding of the federal consumer protection requirements pertaining to automobile repossessions.

Read here »

Related Content          

  • Legal Framework for U.S. Consumer Regulatory Law
    Explore this overview of the federal legal framework for financial institutions and entities that provide consumer financial services. This practice note examines the role of the CFPB in regulating consumer financial products and services, and reviews administrative responsibilities of other federal agencies similarly charged with protecting and enforcing consumer rights and regulations.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.                             


Experience results today with practical guidance, legal research, and data-driven insights—all in one place.

Experience Lexis+