• 9 minutes

Unfair and Deceptive Credit Practices


Gain knowledge on what determines unfair and deceptive credit practices.

15 U.S.C. § 45 and 12 U.S.C. §§ 5531 and 5536 are the federal statutory prohibitions relevant to unfair and deceptive credit practices and pursuant to 12 U.S.C. § 5531(b), the CFPB also has authority to issue regulations governing unfair, deceptive, or abusive acts or practices. This video reviews four parts to unfair and deceptive credit practices – the definition of unfairness, the definition of abuse, the definition of prohibited acts, and predatory practices, cognitive biases, and price discrimination:.

Runtime: 8 minutes



Mark D. Belongia

Mark D. Belongia

Hinshaw & Culbertson LLP

  • Partner at Hinshaw & Culbertson LLP
  • Practice emphasizes all aspects of financial regulatory areas, such as consumer lending and banking
  • Conducts regular seminars and workshops on lending and debt collection
  • Author of several publications related to the areas of lending to all types of consumers and proper methods of the collection of this debt
  • Member of the Chicago, Illinois, and American Bar Associations
  • J.D. degree, DePaul University College of Law; B.S.B.A. degree in accounting, Drake University
  • Can be contacted at : [email protected] or 312-704-3985

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