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Standardizing Unfair Consumer Practices Regulations

This act changes how the Bureau of Consumer Financial Protection regulates unfair or deceptive practices, aiming to align its procedures with the Federal Trade Commission. This could lead to more consistent and transparent consumer protection rules in the financial sector.
Key points
The consumer protection agency will regulate unfair practices similarly to the Federal Trade Commission.
The term "abusive" is removed from the definition of unfair practices, focusing on "unfair or deceptive" actions.
A requirement to consult with primary financial regulators before taking action against companies, potentially affecting intervention speed.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_4548
Sponsor: Rep. Williams, Roger [R-TX-25]
Process start date: 2021-07-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Unfair or Deceptive Acts or Practices Uniformity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4548.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-20.

What are the main provisions?

Key points include:

  • The consumer protection agency will regulate unfair practices similarly to the Federal Trade Commission.
  • The term "abusive" is removed from the definition of unfair practices, focusing on "unfair or deceptive" actions.
  • A requirement to consult with primary financial regulators before taking action against companies, potentially affecting intervention speed.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Williams, Roger [R-TX-25].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law