PYMNTS

JANUARY 27, 2020

In essence, the change means that the agency is limiting how it can pursue such practices, which fall under a standard known as “Unfair or Deceptive Acts or Practices” (UDAAP). However, nearly a decade after the act became law, uncertainty remains as to the scope and meaning of abusiveness. In the case, captioned Seila Law LLC v.

CFPB 71

CFPB Consumer Financial Protection Bureau (CFPB) UDAAP Laws 71

PYMNTS

SEPTEMBER 25, 2017

“Its Dodd-Frank mandate gives the CFPB authority to investigate Equifax even without cybersecurity rules,” said Quyen Truong, a partner at law firm Stroock & Stroock & Lavan who was the assistant director and deputy general counsel for the CFPB until early 2016. Last week, U.S.

CFPB 46

CFPB UDAAP Federal Trade Commission Breach 46

PYMNTS

SEPTEMBER 22, 2017

And New York Governor Andrew Cuomo announced that he wants credit reporting firms to comply with the state’s new cybersecurity regulations, as well as require agencies to report their officers or directors who are responsible for compliance with laws and regulations involving financial services, banking and insurance each year.

UDAAP 46

UDAAP CFPB Federal Trade Commission Breach 46