Pay-by-Phone Fees Could Lead to UDAAP Violations

On July 27, 2017 the CFPB issued Compliance Bulletin 2017-01:  Phone Pay Fees, reminding companies that misleading consumers about fees associated with payments over the telephone may be deemed as UDAAP violations. The Bulletin states, that depending on the facts and circumstances, the following may constitute UDAAP violations: Failing to disclose the prices of all available phone pay fees when … Read More