Tag Archives: CFPB reform

Mulvaney: CFPB to Provide Clarity on UDAAP Standard

The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers "abusive" under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today. 

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ABA Cautions Against Global Regulatory Frameworks for Fintech

In response to the Consumer Financial Protection Bureau’s call for feedback on its partnership in the Global Financial Innovation Network, ABA urged the bureau to clarify that bank-startup partnerships are among the “innovative companies” GFIN intends to serve. ABA’s comment letter yesterday also stressed that the scope of GFIN should not be expanded to recommend best practices or regulatory frameworks, ...

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ABA Recommends Changes to CFPB’s Complaint Handling Process

In a comment letter to the Consumer Financial Protection Bureau yesterday -- the twelfth and final one that the association will submit as part of the bureau’s ongoing feedback initiative -- ABA urged the bureau to encourage consumers to contact their bank directly to express a concern with a product or service prior to filing a formal complaint with the CFPB.

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