Unfair, Deceptive, or Abusive Acts or Practices Clauses

Summary

This template is comprised of clauses for use in consumer mortgage broker agreements, automobile financing contracts, and servicing agreements. It contains practical guidance and drafting notes. Unfair, deceptive, or abusive acts or practices (UDAAPs) clauses can be found in a variety of contracts involving consumer financial products or services. UDAAPs are generally regulated by the federal Consumer Financial Protection Bureau (CFPB). For a full listing of key materials necessary to develop consumer-related bank policies and procedures central to regulated depository institution operations, see Developing Bank Policies and Procedures Resource Kit. For a full listing of key content covering fundamental financial services regulation related topics, see Financial Services Regulations Fundamentals Resource Kit. For more information, see Financial Services Regulation Resource Kit. For information on UDAAPs and CFPB enforcement, see Unfair, Deceptive, and Abusive Acts or Practices (UDAAPs) Restrictions Compliance Checklist. For materials related to mortgage brokers servicing, see Mortgage Servicing Regulation Resource Kit.