Thursday , April 22 2021

CFPB Litigation on Merchant Exemption in UDAAP Has Potential to Set Precedent for Retailers (Libre, part 2) – JD Supra

Recent motion to dismiss briefing in federal court illuminates the grant by Congress of exemptions to the CFPB’s authority to pursue market participants for alleged violations of the prohibition against Unfair, Deceptive, or Abusive Acts and Practices (“UDAAP”) set forth in the Dodd-Frank Act.In the Libre matter, which was previously addressed here, the Consumer Financial Protection Bureau (“Bureau” or “CFPB”), along with co-plaintiffs, the attorneys gen...

 

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