UDAAP definition

UDAAP means Sections 1031 and 1036 of the Xxxx Xxxxx Wall Street Reform and Consumer Protection Act, 12 USC § 5536, and implementing regulations issued pursuant thereto, and Federal Reserve Regulation AA, which prohibit unfair, deceptive or abusive acts or practices.

UDAAP means Unfair, Deceptive or Abusive Acts Practices, Section 5 of the Federal Trade Commission Act (FTC Act), 15 USC 45(a)(1) (UDAP), prohibits “unfair or deceptive acts or practices in or affecting commerce.” The Xxxx-Xxxxx Act, makes it unlawful to engage in any unfair, deceptive or abusive act or practice (UDAAP), and gives the CFPB UDAAP rulemaking and enforcement authority. All Brokers must comply with UDAAP.

UDAAP means Sections 1031 and 1036 of the Dodd Frank Wall Street Reform and Consumer Protection Act, 12 USC § 5536, and implementing regulations issued pursuant thereto, and Federal Reserve Regulation AA, which prohibit unfair, deceptive or abusive acts or practices.

Examples of UDAAP in a sentence

• As financial products or services under the Dodd-Frank Act, such leases would become subject to the UDAAP prohibition under section 1031 of the Dodd-Frank Act.

• And now, the measurement for bank services and products is UDAP/ UDAAP.

• A UDAAP rulemaking would give DFPI additional, and potentially broader powers, to address this type of unfair practice.

• Summaries of the UDAAP actions below appear in chronological order and are intended to provide a straightforward identification of the specific acts or practices that were alleged to be unfair, deceptive, or abusive under the Dodd-Frank Act.

• Neither the Company nor a Company Subsidiary has been cited, fined or otherwise notified of any failure by it to comply with a UDAAP Law which has not been cured or otherwise satisfied in full.

• The Court concludes that Defendants’ conduct, i.e., servicing and collecting on Western Sky loans where payments were not due and owing, satisfies the requisite elements of a UDAAP violation under the CFPA.11 Defendants also repeat another argument raised in their Motion for Judgment on the Pleadings, i.e, that the CFPB is seeking to establish a usury limit, which is expressly prohibited by the CFPA, 12 U.S.C. § 5517(o).

• The Court also rejects Defendants’ arguments that the CFPB is violating Defendants’ due process rights by seeking to penalize them for UDAAP violations without fair notice, especially in light of the CFPA’s use of language or terms that have established meanings under other consumer-protection statutes.

• See generally Stephen Hayes & Kali Schellenberg, Discrimination Is “Unfair”: Interpreting UDA(A)P to Pro- hibit Discrimination, STUDENT BORROWER PROT.

• DFPI should address the misleading disclosure of fees as “non-standard” rates as a deceptive practice under UDAAP enforcement.

• A UDAAP rulemaking under § 90009(e) would clarify enforcement of Division 9.5 on unlicensed firms, which would include much of the merchant cash advance industry and other segments of the market that the Federal Reserve describes as “potentially higher-cost and less- transparent credit products.”14 This is where DFPI’s enforcement of SB 1235 is needed most.

More Definitions of UDAAP

UDAAP means unfair, deceptive, or abusive acts or practices.

UDAAP shall have the meaning set forth in Section 4.02(a)(xix).

UDAAP means acts or practices which are unfair, deceptive or abusive as provided under Applicable Law.

UDAAP means unfair, deceptive, and abusive acts and practices.

UDAAP has the meaning set forth in Section 3.11(c)(i).

UDAAP has the meaning set forth in Section 2.11(e)(i).