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CFPB RIN: 3170-AA88 Publication ID: Spring 2020 
Title: Abusive Acts and Practices 

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 held a symposium on this issue in June 2019, in which a panel of experts provided a variety of perspectives on the need and benefits in developing a clearer understanding of the abusiveness standard.  To convey and foster greater certainty about the meaning of abusiveness, in early 2020, the Bureau issued a general statement of policy, which provides a framework for the Bureau’s exercise of its supervisory and enforcement authority to address abusive acts or practices.  In issuing this Policy Statement, the Bureau did not foreclose the possibility of engaging in a future rulemaking to further define the abusiveness standard.

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: No 
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
Action Date FR Cite
Policy Statement  01/24/2020  85 FR 6733   
Next Action Undetermined  To Be Determined 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michael Silver
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700