Understanding CFPB's New Theory Of Abusiveness

Law360, New York (August 17, 2015, 11:16 AM EDT) -- In 2013, the Consumer Financial Protection Bureau filed a complaint against CashCall Inc. and other financial services companies, alleging that their conduct in collecting on payday loans that allegedly violated certain states' usury and/or licensing laws constituted unfair, deceptive and abusive acts and practices under federal law. The CFPB recently struck again, filing suit against NDG Financial Corp. and others, making similar claims. The complaint against NDG, however, both expands the list of states where the CFPB alleges that collecting on a usurious and/or unlicensed payday loan is a case of UDAAP and changes the theory of abusiveness upon which the CFPB relies....

Law360 is on it, so you are, too.

A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.


A Law360 subscription includes features such as

  • Daily newsletters
  • Expert analysis
  • Mobile app
  • Advanced search
  • Judge information
  • Real-time alerts
  • 450K+ searchable archived articles

And more!

Experience Law360 today with a free 7-day trial.

Start Free Trial

Already a subscriber? Click here to login

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!