Who Has The Regulatory Authority To Enforce Udaap? 2024. 2, 2023, california’s department of financial protection and innovation (dfpi) released a new rule expanding its authority to regulate unfair, deceptive, and abusive acts and practices. Cfpb is the only agency to wield full authority to enforce udaap.

The consumer financial protection bureau has the authority to regulate udaaps while the agency shares enforcement responsibilities with the federal trade commission. This article provides an overview of each proposed registry along with some considerations for nonbanks, fintech companies, and financial institutions subject to the.