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Dodd-Frank Wall Street Reform and Consumer Protection Act Policy Statement Enforcement Actions

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Husch Blackwell LLP

CFPB Reboots Policy Statements for No-Action Letters and Compliance Assistance Sandbox Approvals Days Before Administration Change

Husch Blackwell LLP on

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) revived its policy statements on No-Action Letters (NALs) and Compliance Assistance Sandbox (CAS) Approvals. These unexpected changes come just days before...more

Hudson Cook, LLP

CFPB Issues Policy Statement on 'Abusiveness': A Step in the Right Direction?

Hudson Cook, LLP on

On January 24, the CFPB issued a Policy Statement to provide clarification on how it will apply the "abusiveness" standard in supervision and enforcement matters. As you may know, the Dodd-Frank Act provides that the CFPB may...more

Moore & Van Allen PLLC

A Small Step Toward Clarity? The CFPB Issues Policy Statement on “Abusiveness” Standard

Moore & Van Allen PLLC on

On January 24, 2020 the CFPB issued a long-awaited policy statement about the meaning of “abusiveness” in the Bureau’s frequently-used enforcement weapon, 1031(d) of the Dodd-Frank Act, commonly referred to as UDAAP. Unlike...more

ArentFox Schiff

What Loan Servicers Must Know: How the CFPB’s 2020 Policy Statement on ‘Abusiveness’ Jibes with its Positions in Enforcement Cases

ArentFox Schiff on

The Consumer Financial Protection Bureau (the Bureau) recently issued an official policy statement (Policy) that illuminates how the Bureau will apply the Dodd-Frank Wall Street Reform and Consumer Protection Act’s...more

Goodwin

CFPB Issues Much Anticipated Guidance Regarding Abusive Acts or Practices

Goodwin on

On January 24, 2020, the Consumer Financial Protection Bureau (CFPB) issued a policy statement setting forth guidelines on how it intends to enforce the “abusiveness” standard under the Dodd-Frank Act.  Section 103(a) of the...more

Bradley Arant Boult Cummings LLP

CFPB’s New Policy on Abusive Practices Promises a “Common Sense” Approach to Enforcement

Last week, the CFPB released a long-anticipated policy statement clarifying the agency’s enforcement standard for “abusive acts or practices.” According to an agency press release, the CFPB’s new standard offers a...more

Buchalter

CFPB Further Defines Abusiveness Standard; Expresses Intent to Limit Duplicative Enforcement

Buchalter on

In a Policy Statement effective on January 24, 2020, the CFPB addresses perceived uncertainty as to the scope and meaning of the abusiveness standard, and that the CFPB had in various enforcement actions asserted claims for...more

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