Let's Talk Testing for UDAAP

The Dodd-Frank Act makes it unlawful for any provider of consumer financial products or services to engage in any unfair, deceptive or abusive acts or practices (UDAAP). While this is not new news, it is critical that your institution conducts testing across its product lines and services to ensure UDAAP issues are not quietly lurking!

Recorded Thursday,
February 15th, 2024
Presented by Molly Stull
1h 30m total length
2 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Deposit Compliance
  • General Compliance
  • Lending Compliance
  • Transaction Compliance
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • Loan Operations Manager/Specialist
  • Risk Manager

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UDAAP – It’s a concern of every bank on every street across the country. Join us as this comprehensive webinar will provide an overview of what constitutes an unfair, deceptive, or abusive act or practice. We will discuss examiner-identified UDAAP violations and explain how to utilize agency-issued reports in testing for these issues within your organization.

This webinar will also discuss how to expand testing to identify potential discrimination in financial products and services. Traditionally, discrimination has been and still is a major fair lending concern, but certain discriminatory practices may violate the federal prohibition against unfair practices. Join us as we discuss how to test for UDAAP violations through the utilization of the UDAAP Examination manual and regulatory agency identified areas of concern. Reviewing and monitoring for unfair, deceptive or abusive acts or practices is essential across your institution’s products and services.

What You'll Learn

  • Develop a compliance program to monitor for potential UDAAP concerns, including discrimination
  • Recognize how discrimination impacts deposit accounts, marketing, fees, product offerings and servicing activities
  • Identify discriminatory acts or practices that materially increase the risk of consumers being treated in an unfair manner
  • Provide examples of discriminatory practices to aid in training exercises
  • Test new products and services for potential UDAAPs prior to rollout
  • Recognize the importance of a complaint log as an identifier of potential UDAAPs
  • Watch for agency-issued reports that share where UDAAP issues have been found

Who Should Attend

This informative session is designed for all individuals involved in the development, marketing, or monitoring of financial products and services offered by your institution, including staff in operations, deposit, marketing, training, compliance, auditing or risk management.

Molly Stull

Instructor Bio

Molly began her banking career on the teller line while working on her undergraduate degree and has continued working in the financial industry ever since. Some of her experience includes roles in operations, business resumption planning, consumer compliance, and conducting audits. Her favorite role is ensuring that her audience, whether on the sports field or in the financial industry, understands the "why" behind the rule. Her wealth of financial knowledge and her numerous years of experience enable her to relate the material to the audience.

Continuing Education Credit Information

Let's Talk Testing for UDAAP has been approved for 2 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.