Category Archives: Unfair & Deceptive Acts & Practices (UDAP), including Discrimination

In Lawsuit Filed Today, CFPB Rolls Out Its “Abusive” Practices Authority For the First Time

Big news: The CFPB today filed the first lawsuit that invokes the agency's authority under the Dodd-Frank Act to police practices that are not just unfair or deceptive, but "abusive."  Observers of the agency have been eagerly anticipating the first use of that authority, which is new to the world of consumer law. The Bureau's Action […]

American Banker: How to CFPB-Proof New Financial Products

by Jeff Sovern Here (behind a paywall, unfortunately). But here's the part that's not behind the paywall: To avoid unwanted scrutiny from the Consumer Financial Protection Bureau and other regulators, banks need to start thinking about "what is fair, not just what is legal," banking attorneys say. And isn't that one of the reasons we […]

Reuters: States probing top U.S. banks over debt collection

by Jeff Sovern Here.  An excerpt: As with the mortgage cases, the investigation focuses on the banks' poor paperwork and their weak tracking of the debts. When they sold delinquent credit card debt to the buyers, often at only a few cents on the dollar, they allegedly failed to provide them with the evidence that […]

Gutierrez v. Wells Fargo Bank Reversed in Part

On Wednesday the Ninth Circuit gave Wells Fargo a belated Christmas present in Gutierrez v. Wells Fargo Bank, — F.3d —-, 2012 WL 6684748 (9th Cir. 2012), vacating the injunctive and restitution relief ordered by the lower court. The district court decision had held Wells Fargo's procedures for ordering debit card withdrawals unfair and fraudulent […]

Looking Back on David Vladeck’s Soon-to-be-Completed Tenure at the FTC

Next month, David Vladeck will a leave the helm of the FTC's Bureau of Consumer Protection–by all accounts reinvograted under his dynamic leadership–to go back to Georgetown Law. Jeff Gelles, the Philadelphia Inquirer's consumer columnist, attempts to sum up David's tenure in a piece entitled "Consumer chief leaves FTC a feistier place." A snippet: Speaking […]