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Agencies clarify UDAP authority post Dodd-Frank
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Banking, Consumer Protection
Tuesday, August 26, 2014
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Federal banking and credit union regulators are repealing rules that define acts or practices that are unfair or deceptive. The repeal is a consequence of Dodd-Frank, and regulators issued guidance clarifying that they still have supervisory and enforcement authority regarding unfair or deceptive acts or practices, notwithstanding the repeal of the regulations. Read on to learn what the agencies had to say about the basis for their UDAP authority.
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