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.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
Several years ago, UDAAP compliance took financial institutions by storm as seemingly overnight, the regulators had moved UDAP from a lower-risk area to one of the highest-risk areas in the banking industry. This, of course, was due to the addition of “abusive” into the long-standing Unfair and Deceptive Acts and Practices rule. When the Dodd-Frank Act added “abusive” into UDAAP, regulatory scrutiny seemed to significantly increase overnight. For several years, compliance professionals were often terrified of the “elephant in the closet” - that they didn’t know about. As you probably well recall, policies and procedures that financial institutions had been using for years were suddenly becoming major issues that were now resulting in regulatory actions and hefty civil money penalties.
After a few years, it seemed like things were going to settle in regards to unknown and new UDAAP violations. Unfortunately, that doesn’t seem to be the case anymore. Whether you want to call it a second wave, or a continuation of the first wave of UDAAP enforcement, UDAAP violations continue to be one of the hottest topics in regulatory compliance - mainly because UDAAP violations can creep up anywhere and at any time - such as how discrimination now applies to deposit accounts under the “unfair” test of UDAAP.
And this is exactly why we have created this online UDAAP compliance training program.
We believe that UDAAP is, and will continue to be, not only one of the highest-risk regulations, but also one of the most uncertain rule - uncertain as it continues to evolve in the industry and among regulators (watch the video below for a good explanation on this!). One of the great things about our UDAAP Foundations program is that our instructor goes though a list of over 50 known UDAAP violation examples. Of course, the goal of this list is to help you understand what practices have been determined to be an issue at other organizations, and then to ensure that you don’t have the same issue at your organization. We strongly believe that comparing a known list of UDAAP violation examples with the practices in your shop is one of the best ways to mitigate your risk of having a UDAAP violation.
Plus, we have an entire video (video 2) dedicated to reviewing the recent change from the CFPB where they clarified that discrimination can be considered an “unfair” practice under UDAAP, even when fair lending laws don’t apply. In other words, we discuss how financial institutions can get into trouble for discrimination with deposit accounts - and we provide 11 tips on how financial institutions can limit their risk of having a deposit-related discrimination issue under UDAAP.
This UDAAP online training program would be beneficial for compliance officers, trainers, marketing employees, branch managers, operations managers, auditors, and those responsible for any areas where UDAPP violations could occur - which is almost anywhere.
This program is not currently pre-approved for any CRCM or CERP credits. Please contact us if you are interested in continuing education credits.
$399 ( 3 hours of online video training!)
Get additional discount for one additional attendee. The total cost will be the current price (regular or discounted) for the first attendee plus $129 for the second attendee. (Click the second button below to avail this discount.)
Our online UDAAP compliance training class is presented in two videos and provides you with everything you need to know about Unfair, Deceptive, or Abusive Acts and Practices. The presentation includes a video of the instructor in front of a UDAAP training PowerPoint presentation as well as a comprehensive UDAAP training guide for attendees to follow along.
UDAAP Rules
An overview of UDAAP
Unfair
Deceptive
Abusive
Complaints
Relation to other laws
2022 UDAAP Changes
Changes in the UDAAP Exam Procedures
UDAAP Examples (over 50 examples!)
Deposit UDAAP Violation Examples
Lending UDAAP Violation Examples
This compliance training class provides you with everything you need to know about UDAAP.
The training class includes the following:
A comprehensive UDAAP training guide
A checklist of over 50 known UDAAP violations
A “virtual classroom” video with video of the instructor in front of a UDAAP training PowerPoint presentation
60-day access to the training class
Certificate of completion (1 per registration - available upon request)
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 UDAAP training PowerPoint 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.
Certificates of completion are now available upon request. One certificate is available per registration.
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. 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.
