The Consumer Financial Protection Bureau’s (CFPB) exercise of its sweeping authority to prohibit unfair, deceptive, and abusive acts or practices (UDAAP) continues to command the attention of financial institutions and financial services companies regulated by the agency. As promised by CFPB Director Richard Cordray, the CFPB has defined UDAAP primarily through enforcement actions, along with a few agency-issued supervisory findings and guidance bulletins.

To assist regulated and potentially regulated entities in understanding how the CFPB will exercise its UDAAP authority, we have issued “Know It When You See It” Alerts bi-annually since June 2014.