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CFPB RIN: 3170-AA88 Publication ID: Fall 2019 
Title: Abusive Acts and Practices 
Abstract:

Section 1031 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and other provisions of the Dodd-Frank Act authorize the Bureau to take enforcement, supervision, and rulemaking actions concerning unfair, deceptive, or abusive acts and practices. While statutory language, regulations, policy statements, and case law have provided important clarifications as to the meaning of unfairness and deception under federal consumer protection law over several decades, the Dodd-Frank Act was the first federal law to define and prohibit abusive acts and practices with respect to consumer financial products and services generally. The Bureau is considering whether rulemaking or other activities such as a policy statement may be helpful to further clarify the meaning of abusive acts or practices under section 1031 of the Dodd-Frank Act.  The Bureau held a symposium on this question in June 2019, in which a panel of experts with a variety of viewpoints engaged in a dialogue which will inform the Bureau’s next steps.

 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Long-Term Actions 
Major: Undetermined  Unfunded Mandates: Undetermined 
EO 13771 Designation: Independent agency 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Not Yet Determined   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Next Action Undetermined  To Be Determined 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Lisa Cole
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700