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ARTICLE · 12 DECEMBER 2014

UDAAP Council Weekly UDAAP Standards Report - 12/10/2014

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Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims.

United StatesFinance and Banking
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Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims.

In an effort to illuminate the UDAAP standards, below is a sampling of some of this week's UDAAP decisions on the meaning of unfair, deceptive, and abusive.

Unfair

  • A mortgagee was not liable under Consumer Financial Protection Bureau ("CFPB") regulations when it failed to provide a written explanation of the mortgagor's ineligibility for a loan modification before initiating foreclosure proceedings. The mortgagee recorded three separate instances of default, and at least several intermittent communications that indicated that the mortgagor was ineligible for a modification. Even though the mortgagor alleged that the modification denials were revoked by the bank, he failed to provide sufficient facts to show a sequence of events that supported his allegations. The court determined that the CFPB's requirement "to inform the consumer that a loan modification has

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