what constitutes a udaap violation 
there are many examples of unfair or deceptive violations these include failing to provide customers with promised services using bait and switch tactics and misleading consumers about costs and prices for products and services among others who has the rulemaking authority for udaaps the dodd frank wall street reform and consumer protection act was established following the 2007 2008 financial crisis its goal is to protect consumers and boost confidence in the financial system the act charged the consumer financial protection bureau with coming up with the rules surrounding udaaps the cfpb and the federal trade commission both enforce the regulations set forth the bottom linethe financial crisis of 2007 2008 brought to light many failures of the financial system one of these was the lack of transparency and accountability of certain financial institutions the dodd frank act helped establish rules to protect consumers and ensure that lenders banks and other financial service providers deal with consumers fairly and ethically both the cfpb and the ftc are responsible for ensuring that these entities live up to the rules if you feel that you ve been deceived or are the victim of unfair practices contact the cfpb or ftc and file a complaint 