ABA Telephone Briefing*
UDAAP – Unfair, Deceptive or Abusive Acts or Practices – is the heart of current enforcement actions taken by the Consumer Financial Protection Bureau (CFPB) and regulatory agencies. And, unfortunately there is no “last clean exam” rule to protect you.
The challenge banks face is that UDAAP+ is not clear—in advance. Too often, UDAAP only becomes clear in hindsight and then it is too late. UDAAP risk must be actively managed, using methods to anticipate how things might look after the fact.
This recording of the live, two-hour telephone briefing held on January 10, 2013 provides a brief review of UDAAP principles. Panelists then discuss how to develop and manage a UDAAP program, including tools and techniques you can use to help anticipate and prevent UDAAP problems in your bank. Recent UDAAP enforcement cases are used as a starting point for the discussion.
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| Program Date |
Audio Recording Now Available |
| Per Site Fees** |
$255 ABA Member/Service Member • $385 Non-Member |
| Registration |
Not applicable |
| Audio Recording |
Purchase Online (PDF)
Please note recordings are not eligible for CPE for CPA credits. |
| Credits |
This recording has been approved for 2.5 CRCM credits.
The Institute of Certified Bankers (ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. |
Topics will include:
- A quick review of the key elements used to measure unfairness, deception and abuse
- Discussion about methods useful in managing UDAAP and developing a UDAAP prevention program
- When and how to match promises made in advertising, disclosures and contracts to product delivery
- How to conduct a top-to-bottom risk assessment for UDAAP, including places you might overlook
- Advice on important steps for monitoring and auditing to minimize UDAAP risk.
Speakers:
- Lucy Griffin, Senior Advisor, Paragon Compliance Group and President, Compliance Resources, Inc. (Moderator)
- Judy Cormier, Director, Consumer Compliance, TD Bank, Falmouth ME
- Pat Patrick Shutterly, Compliance Risk Management Consultant, Richmond, VA
Who Should Attend?
- Compliance Officers and Managers
- Bank Counsel
- Risk Managers and Auditors
- Senior Bank Managers
*ABA's Telephone Briefings include reference materials and telephone audio. Telephone/Streaming/Webcast Briefings include reference materials, telephone audio, and simultaneous webcast presentation (requires 56K or faster with JavaScript and cookies enabled in the browser, i.e., Microsoft Internet Explorer 4.0 or later, or Netscape 4.7X).
**Each site license (registration fee) entitles you to one connection (when there is a simultaneous webcast presentation) where an unlimited number of listeners can participate.
Any transmission, retransmission or republishing of the audio or Web portions of this briefing is strictly prohibited.