On March 16, the Consumer Financial Protection Bureau published revised examination guidelines on unfair, deceptive, or abusive acts and practices, or UDAAPs.
As Squire’s Keith Bradley, Katie Wechsler and Dimitar Georgiev-Remmel explain in an article published in Law360, the changes indicate a new position from the CFPB: that discrimination in the provision of consumer financial products and services can be a UDAAP. We anticipate that potentially discriminatory practices in all aspects of these markets will draw increased scrutiny from the bureau and other regulators.
Read more at: Expert Analysis Anti-bias Considerations for Finance Cos. After CFPB Notice