MINNEAPOLIS, Minn.-Credit unions need to pay close attention to member complaints, cautions Wolters Kluwer, as the Consumer Financial Protection Bureau is stepping up its focus here, looking for signs from consumers that their FI is engaging in unfair or deceptive practices.

Under the Unfair, Deceptive or Abusive Acts or Practices (UDAAP) Act, the CFPB has the ability to address those issues across the board among all financial institutions, said Senior Attorney Ted Dreyer. "The CFPB has had some big judgments against major financial institutions already."

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