Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
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As regulatory expectations for financial institutions become increasingly complex, it is essential for Board members to be knowledgeable about high-risk consumer protection regulations to effectively oversee their compliance programs and meet their fiduciary responsibilities. Without at least a solid basic understanding of applicable rules, Directors cannot effectively provide necessary oversight and guidance to their organizations.
One of the most challenging compliance areas for most financial institutions is Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). UDAAP rules are complicated, with distinct tests for "unfair," "deceptive," and "abusive" practices, and regulatory guidance is often nuanced and evolving. For example, practices deemed acceptable a decade or two ago may now pose clear UDAAP risks, and violations can lead to severe consequences, including fines, enforcement actions, and reputational damage. Due to these challenges and the elevated risk of UDAAP, it is essential that Board members receive straightforward yet effective UDAAP training.
Delivering comprehensive UDAAP training to a busy Board of Directors who have many other responsibilities can be a challenging task. With demanding schedules and limited meeting time, traditional, lengthy training sessions are often impractical. Directors need a UDAAP training program that cuts through the complicated rules, focusing on essential points and key takeaways. The training should be streamlined to fit into their tight schedules while still providing a robust understanding of how to oversee and manage UDAAP risks effectively.
Our UDAAP Training for Board of Directors program is specifically designed to address these needs. This training offers a concise yet comprehensive overview of UDAAP, ensuring that your Board members can grasp the critical concepts and fulfill their oversight responsibilities efficiently. Our instructor also includes a few examples and a personal story about UDAAP that helps Directors understand the material better and stay engaged during the training session.
Key features of our program include:
Under 30 Minutes: This program delivers crucial UDAAP knowledge swiftly and effectively within a compact timeframe that respects your Board’s busy schedule. The single training video in this program runs just 28 minutes.
Flexible Delivery: Our program is available through a private portal, allowing Directors to access and complete the training at their convenience, outside of regular board meetings. We even offer a downloaded version of our training (upon request) to provide even more flexibility in your delivery method. (Reach out to us about delivery method options if you have questions.)
Focused Content: We concentrate on high-level principles and practical insights, avoiding unnecessary details and complexities to provide a clear understanding of UDAAP risks and compliance requirements.
Practical Application: Our program includes several UDAAP examples and an entertaining personal story from the instructor that helps to engage Directors. Additionally, our program concludes with 8 UDAAP risk mitigation strategies directors can consider to help oversee UDAAP compliance and fulfill their fiduciary responsibilities.
By choosing our UDAAP Training for the Board of Directors program, you ensure that your Board members are not only informed but also empowered to make calculated decisions and provide effective oversight in a high-risk area.
Explore the video and information below to discover how our UDAAP training can fit seamlessly into your Board’s schedule and enhance its regulatory competence.
NOTE: There are multiple ways for us to deliver this video program to your directors - including an option for a private portal for your directors to easily access - so let us know if you have questions.
Regular Price: $399
Demo Available: If you would like to preview this class before you purchase it to make sure it's what you are looking for, just let us know and we can set you up with demo access.
This Board of Directors training is a comprehensive but quick and to-the-point on-demand program designed to assist in training your board on this compliance topic. The program includes an on-demand video (with a download option), a comprehensive manual, and presentation slides (Powerpoint) that can all be used for training the Board of Directors. The program actually provides three options to present the training to the Board:
Private Portal. First, we can set your organization up with a private link for your directors to log in individually and stream it from their own location - just email us for more info on this option.
Downloaded Video. Second, financial institutions can play our pre-recorded video during a Board meeting. This can be accomplished by either playing our on-demand video (streaming from our site) or by downloading the full MP4 file and playing it from your own computer (recommended).
Training Material for Employee Deliver. Lastly, financial institutions can utilize our comprehensive training manual and slides in order to have a bank employee provide the board training in person. If this option is chosen, the trainer can use our video as a guide of what their training could be like.
Understanding that Directors need an efficient and high-level overview for any type of training, this program is designed to provide comprehensive training for the Board of Directors in under 30 minutes.
NOTE: If you would like to sample this program before purchasing it, just let us know and we can work something out.
The class provides the Board of Directors an executive training on redlining and risk mitigation strategies. Due to time constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater detail than others.
Overview of UDAAP Rules
Unfair Acts or Practices
Deceptive Acts or Practices
Abusive Acts or Practices
Relationship to Other Laws
Risk Mitigation Strategies
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about this compliance topic.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
