United States:
Understanding And Applying Dodd-Frank’s ‘Abusive’ Standard
30 January 2015
WilmerHale
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Introduction
One of the many innovations in the Dodd-Frank Act was the
inclusion of a prohibition on ''abusive'' conduct.
This new standard provided the Consumer Financial Protection Bureau
(the ''Bureau'' or ''CFPB'') with a
new enforcement tool, but little guidance on what conduct it
proscribed. This lack of clarity has gotten worse — not
better — over the past four years.
Originally published in Bloomberg BNA's Banking
Report on January 27, 2015.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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