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ARTICLE · 14 DECEMBER 2012

The Latest UDAAP Battleground: Mortgage Advertising

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The Consumer Financial Protection Bureau may be gearing up for a second round of major enforcement activities targeted at enforcing the Dodd- Frank Wall Street Reform and Consumer Protection Act.

United StatesConsumer Protection
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The Consumer Financial Protection Bureau may be gearing up for a second round of major enforcement activities targeted at enforcing the Dodd- Frank Wall Street Reform and Consumer Protection Act's prohibition against unfair, deceptive, or abusive acts or practices (UDAAP) in connection with consumer financial products and services.

Fresh on the heels of settling its first round of UDAAP enforcement activities against several major credit card companies over alleged deceptive and illegal practices involving add-on products for credit cards, the bureau has now set its sights on mortgage lenders and brokers who are allegedly violating UDAAP and the Mortgages Acts and Practices Advertising Rule (MAP Rule).

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