HR. 1652In Committee
Rectifying UDAAP Act
Restricts CFPB use of abusive acts and practices authority by narrowing UDAAP standards, limiting certain remedies, and setting new compliance and rulemaking requirements
Plain-English overview
What this bill does
Restricts CFPB use of abusive acts and practices authority by narrowing UDAAP standards, limiting certain remedies, and setting new compliance and rulemaking requirements
Key points
- Amend abusive practice standards
- Require UDAAP rule cost benefit analysis
- Prohibit discrimination findings
- Limit CFPB monetary relief
Current status
Where it stands
Status
In Committee
Latest action
2025-02-27 — Referred to the House Committee on Financial Services.
Related context
Topics and policy areas
undefinedFinance and Financial Sector