Outside Publication

Understanding and Applying Dodd-Frank’s ‘Abusive’ Standard, Bloomberg BNA Banking Report

February 10, 2015

One of the many innovations in the Dodd-Frank Act was the inclusion of a prohibition on ''abusive'' conduct. This new standard provided the Consumer Financial Protection Bureau (the ''Bureau'' or ''CFPB'') with a new enforcement tool, but little guidance on what conduct it proscribed. This lack of clarity has gotten worse — not better — over the past four years.