On June 11, 2019, the Consumer Financial Protection Bureau announced it will host a symposium on the Unfair, Deceptive or Abusive Acts or Practices (UDAAP). The symposium will be held on June 25 at 9am at the CFPB’s headquarters in Washington, D.C. The symposium will feature a panel of consumer protection academic experts discussing various policy issues relating to the abusive standard. Another panel of leading legal experts will examine how the abusive standard has been used in practice. Many in the financial institution industry have been asking for clarity around UDAAP and this panel could represent positive step in that direction.
John Zasada, JD, CAMS – Regulatory Consulting Director, Financial Institutions Group. John can be reached at firstname.lastname@example.org.