Mortgage Lending: 4.14.5 Scope of CFPB Rulemaking
CFPB rulemaking authority concerning UDAAP, disclosures, and the right to information relates to “covered persons” and “consumer financial products and services.” A consumer financial product or service is a product or service offered or provided for use by consumers primarily for personal, family, or household purposes.552 A financial product or service means one of a number of listed activities (with certain exceptions):