Compliance: UDAAP will be first topic in CFPB’s symposia series
Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger announced a symposia series last week on exploring consumer protections in today’s dynamic financial services marketplace. The series is aimed at stimulating a “proactive and transparent dialogue” to assist the CFPB in its policy development process, including possible future rulemakings.
During each symposium, the Bureau will host a discussion panel of experts with a variety of viewpoints on the topic.
The first topic for the symposia series will be around clarifying the meaning of abusive acts or practices (UDAAP) under Section 1031 of the Dodd-Frank Act.
Other topics covered in the symposia series will include:
- Behavioral law and economics;
- Small business loan data collection;
- Disparate impact and the Equal Credit Opportunity Act;
- Cost-benefit analysis; and
- Consumer authorized financial data sharing.
Additional details on dates and panelists will be forthcoming.