Month: March 2021

CFPB Rescinds “Abusive” Policy Foreshadowing More Aggressive Enforcement

The Consumer Financial Protection Bureau recently announced its intention to rescind its 2020 “abusive acts and practices” policy statement.  The CFPB’s authority to prevent such practices stems from the Dodd-Frank Act, which also created the CFPB. In 2020, the CFPB set forth narrow principles that should be considered when applying its “abusive” authority.  The first,…