PYMNTS

JANUARY 27, 2020

In essence, the change means that the agency is limiting how it can pursue such practices, which fall under a standard known as “Unfair or Deceptive Acts or Practices” (UDAAP). The plaintiffs have argued that the structure gives the director unconstitutional distance from federal authority. At The State Level.

CFPB 71

CFPB Consumer Financial Protection Bureau (CFPB) UDAAP Laws 71

PYMNTS

SEPTEMBER 25, 2017

Its Dodd-Frank mandate gives the CFPB authority to investigate Equifax even without cybersecurity rules,” said Quyen Truong, a partner at law firm Stroock & Stroock & Lavan who was the assistant director and deputy general counsel for the CFPB until early 2016. “Its

CFPB 46

CFPB UDAAP Federal Trade Commission Breach 46

PYMNTS

SEPTEMBER 22, 2017

There is, however, some question as to whether they have the authority to do so — since Equifax is not strictly a financial company. The CFPB and legal experts said the regulator could pursue Equifax under an aspect of the Dodd-Frank Act banning unfair, deceptive and abusive acts and practices (UDAAP).

UDAAP 46

UDAAP Federal Trade Commission CFPB Breach 46