Video Webinar: UDAAP Foundations
Several years ago, UDAAP 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 down 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 Compliance Class.
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 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 preapproved for any CRCM or CERP credits. Please contact us if you are interested in continuing education credits.
Class Pricing
Regular: $399 (3 full hours of video training on UDAAP!)
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.)
NOTE: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.