To amend the Consumer Financial Protection Act of 2010 to clarify standards for UDAAP enforcement actions brought by the Bureau of Consumer Financial Protection, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Consumer Financial Protection Act of 2010 to clarify standards for UDAAP enforcement actions brought by the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Immigration.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H04F03133EC7041AC8ECBFFBFC7233555: 1. Short title This Act may be cited as the Rectifying Undefined Descriptions of Abusive Acts and Practices Act or the Rectifying UDAAP Act.
- Section H984073977DDA4F7DB44C7CB9881C6210: 2. Mitigating factors in assessing civil penalties Section 1055(c) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5565(c)) is amended by adding at...
- Section H89DFC86EAD794A20965324BB59968334: 3. Rulemaking relating to unfair, deceptive or abusive acts or practices Section 1031(b) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5531) is...
- Section HF751FE6E522543188D39CE1A3F548257: 4. Authority to declare an act unlawful based on discrimination The Bureau of Consumer Financial Protection may not interpret the authority of the Bureau of...
- Section H170327D699EA4954A098EE1A5172151C: 5. Clarifying the abusive standard for the Bureau of Consumer Financial Protection Section 1031 of the Consumer Financial Protection Act of 2010 (12 U.S.C....
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Consumer Financial Protection Act of 2010 to clarify standards for UDAAP enforcement actions brought by the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Immigration
Primary Purpose
This bill, To amend the Consumer Financial Protection Act of 2010 to clarify standards for UDAAP enforcement actions brought by the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Barr (for himself, Mr. Luetkemeyer, Mr. Posey, Mr. Meuser, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology