CFPB Director Rohit Chopra’s UC Irvine Law Review article on enforcing the post-financial crisis ban on abusive conduct

In this journal article—published in the UC Irvine Law Review —CFPB Director Rohit Chopra explains the CFPB’s Policy Statement on Abusive Acts or Practices and the importance that it plays in protecting people from business misconduct. The post-financial crisis ban on abusive conduct is rooted in early 20th century attempts to regulate fair dealing and address corporate misconduct. Throughout our country’s history, Congress has responded to changes in business practices by giving government enforcers new tools to meet new challenges.

This article explains the objectives of the policy statement, provides a straight-forward framework for evaluating wrongdoing, and outlines key aspects of the statement and the public policy concerns which motivated them, including condemning business conduct that tricks or exploits people.

Read the article