UDAAP: Unfair, Deceptive, or Abusive Acts or Practices

UDAAP has changed the way regulators and examiners look at compliance. Rather than being rule-based, UDAAP is principle-based, meaning violations could occur anywhere in the institution. This is the case whether or not a specific law or regulation prohibits the conduct. UDAAP (as well as the related UDAP concept) applies to both commercial and consumer activities, and institutions are expected to treat all customers "fairly." This session will focus on these expectations and what institutions can do about it.

Covered Topics

  • What is UDAAP?
  • How is UDAAP Defined?
  • Compliance Sea Change
  • Handling UDAAP Expectations

Who Should Attend?

Anyone in the institution having compliance responsibilities - when you think about this, it could be just about anyone in the institution. This may include members of senior management, operations personnel, lending personnel, underwriters, customer service representatives, back-room personnel, and of course compliance officers, auditors, and attorneys, and anyone else in the institution that might benefit from this valuable information.

The biggest value of the series..."Ability to have someone explain in plain English what is going on." Christine G., Bank Fund Staff Federal Credit Union