On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) doubled down on its aggressive approach to bringing enforcement actions that challenge allegedly abusive acts and practices.  https://www.consumerfinance.gov/compliance/supervisory-guidance/policy-statement-on-abusiveness/.

In a new policy statement (“the statement”), the bureau described an expansive view of its abusiveness authority and, using illustrative examples, provided a useful roadmap for enforcers and regulated entities alike.

Background