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Unfair, deceptive, or abusive acts or practices (UDAAP) continues to be one of the hottest regulatory issues and can be one of the most challenging areas to manage. The challenge is twofold. First, practices that were once considered acceptable are now being cited as significant violations and are often accompanied with large, public fines. In addition, UDAAP seems to be a moving target as patterns in newly discovered violations are rarely consistent. The result is that many financial institutions have a problem and don’t even realize it. Therefore, it is imperative that every financial institution appropriately manage the risk of potential UDAAP violations.
This presentation is designed to assist financial institutions uncover and mitigate UDAAP risk. You will learn the differences between unfair, deceptive, and abusive acts and practices. Examiner expectations will be addressed by reviewing the current UDAAP exam procedures and other relevant guidance. In addition, the session will provide an overview of complaint management and case studies of cited UDAAP violations – plus guidance on conducting an internal UDAAP review.
HIGHLIGHTS
Understanding each UDAAP component (unfair, deceptive, and abusive)
Discovering potential violations
Regulatory expectations, including an overview of the exam procedures
Complaint management and UDAAP
Case studies with examples of cited violations
Conducting a UDAAP review
TAKE-AWAY TOOLKIT
Comprehensive manual explaining topics covered in the presentation
Step-by-step procedures for conducting your own UDAAP compliance review
Checklist of known UDAAP violations to compare to your practices
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Those responsible for identifying and mitigating UDAAP risk, including compliance officers, auditors, chief risk officers, chief operating officers, and senior management.
ABOUT THE PRESENTER – Adam Witmer, CRCM, Young & Associates, Inc., Senior Consultant where he focuses on regulatory compliance and serves clients in the Midwest. Adam is a popular nationwide speaker who makes compliance fun by using relevant, real-life stories. He provides in-house training for clients, delivers keynote speeches, conducts compliance webinars, and writes articles for various publications. Prior to joining Young & Associates, Inc., Adam served as an officer and the Director of Compliance for a multi-bank holding company. He has held the titles of Compliance Officer, BSA Officer, and CRA Officer for multiple institutions, and has experience in the areas of internal audit, deposit and loan operations, retail banking, and secondary-market lending. He holds the designation of Certified Regulatory Compliance Manager (CRCM), a Bachelor’s in Business Administration from Taylor University, and an MBA in Management and Human Resources from Indiana Tech.
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