The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) empowers the Consumer Financial Protection Bureau (Bureau) to prohibit and protect against unfair, deceptive, and abusive acts or practices (UDAAP). But well-over a year after taking effect, the vagaries surrounding UDAAP have led to industry-wide uncertainty. For the first time, the UDAAP Council will bring together participants all across the consumer financial services industry to develop ways to better navigate and manage UDAAP risk.
The UDAAP Council is a forum for the consumer financial services industry focused exclusively on UDAAP and how to manage Dodd-Frank requirements and to develop strategies to help ensure compliance with these provisions.
The Council is for consumer financial industry participants — from banks, credit unions, prepaids, and credit card lenders and servicers to mortgage, student, consumer, and short-term lenders and servicers, and all others covered by Dodd-Frank.
As a council member, among other things, you have the opportunity to participate in quarterly web conferences and to receive breaking news updates and exclusive analysis of UDAAP-related legal developments. In addition, the council will offer an annual live meeting and access to a proprietary web portal for more in-depth information.
By clicking the Events facet on the left, you will be able to see upcoming UDAAP Council programs. For more information or to join the UDAAP Council, please email udaapcouncil foley.com.