article thumbnail

CFPB’s 2020: Drawing A Bead On Abusive Practices — And States’ Activities

PYMNTS

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). Supreme Court, arguing for the CFPB’s continued existence — and that state powers be kept in place even if the current CFPB structure is ruled to be unconstitutional.

CFPB 71
article thumbnail

CFPB Action Against Equifax Imminent

PYMNTS

“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.

CFPB 46