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Posts published in “UDAP/UDAAP”

Texas AG Sues Houston Business for Operating Online Auction, Alleges Price-Gouging

On March 26, the Texas attorney general acted swiftly, filing a lawsuit against Auctions Unlimited LLC over an online auction that ended on March 24. The auction sparked an article published by the Chicago Tribune entitled  “more than 750,000 masks auctioned for huge markup in Texas while hospitals run out nationwide.”

What is ‘Abusive’ Conduct Under Dodd-Frank? CFPB Provides an Answer by Issuing Its Policy on Abusive Acts and Practices

Following its enaction, the Dodd-Frank Act left the financial services industry with uncertainty in many areas. For nearly 10 years, the industry has wondered and speculated about the inclusion of a prohibition against abusive acts and practices.  What exactly is abusive conduct? Is abusive conduct different from false and misleading acts or unfairness? How will the CFPB handle enforcement?

8th Cir. Reverses Nationwide UDAP Class Cert Due to Variations in State Law

The U.S. Court of Appeals for the Eighth Circuit recently reversed certification of a nationwide class involving allegedly deceptive advertising practices, holding that certification of a national class was inappropriate because the consumer protection laws of each class member’s home state governed their claims. The…

7th Cir. Confirms Charging Unconscionably High Prices Alone Not Sufficient for UDAP Claim

The U.S Court of Appeals for the Seventh Circuit recently held that charging too much for goods or services, standing alone, is insufficient to assert a claim under the Illinois Consumer Fraud and Deceptive Business Practices Act (“ICFA”). Accordingly, the Seventh Circuit affirmed the trial…

8th Cir. Rejects Alleged Data Breach Victim’s UDAP, UDTPA, Common Law, and Other Claims

The U.S. Court of Appeals for the Eighth Circuit recently upheld the dismissal of an alleged data breach victim’s allegations under the Illinois Consumer Fraud and Deceptive Business Practices Act, the Illinois Personal Information Protection Act, and the Illinois Uniform Deceptive Trade Practices Act, as…

CFPB Enters Into $3.2 Million UDAAP Consent Order With Online Lender

An online lender that extends payday and unsecured installment loans reached a settlement with the Consumer Financial Protection Bureau regarding “unfair, deceptive, or abusive acts or practices” allegations that the lender unlawfully debited consumers’ bank accounts without authorization and failed to honor loan extensions to…

BCFP Enters Consent Order with Consumer Lender Over Debt Collection and Credit Reporting Practices

By Brent Yarborough and Eric Rosenkoetter On June 13, the Bureau of Consumer Financial Protection issued a consent order with a holding company and its affiliated operating entities engaged in consumer lending. The consent order reflects the parties’ settlement of an administrative enforcement action that focused on the…

9th Cir. Holds Servicer May Have Violated UDAP by Soliciting Trial Mod Payments After Determining Borrower Ineligible

The U.S. Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a mortgage loan servicer, holding that the evidence could support a verdict that the servicer engaged in an unfair business practice by accepting trial modification plan…