Prevention
- UDAP (Unfair and Deceptive Acts and Practices)
UDAAP (Unfair, Deceptive and Abusive Acts and Practices)
FDIC (Federal Deposit Insurance Corporation)
- CFPB (Consumer Financial Protection Bureau)
- Dodd-Frank Consumer Protection Act (DFA)
Federal Trade Commission Act (FTC Act)
Credit Practices Rule
| term | definition |
|---|---|
| Confession of judgement | A consumer waives the right to notice and an opportunity to be heard in event of a lawsuit. |
| Waiver of exemption | A consumer waives the benefit of any laws that protect the consumer's real or personal property from seizure or sale to satisfy a debt. |
| - Assignment of wages | Is prohibited except if revoked by debtor, a preauthorized payment plan, applies to wages or earnings. |
| - Security interests in household goods | Creates a security interest in household goods if the debt is not incurred to purchase the goods. |
| - Pyramiding late charges | Prohibits a delinquency charge on a full payment made in a timely manner if attributable to charge assessed on earlier installment. |
Fair Debt Collection Practices Act
prohibits unfair, deceptive, and abusive practices related to the collection of consumer debts.