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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.
Showing posts with label Senior Management. Show all posts
Showing posts with label Senior Management. Show all posts
(Recording + Digital Download) Part 2 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Violations of Law & Consumer Harm
Email to order Recording + Digital Download
The FFIEC has finalized the new Consumer Compliance Rating System which will become effective March 31, 2017. The new guidelines emphasize that having a standard compliance policy is no longer enough. There are now three pillars to the rating system. The first two pillars for compliance examinations and ratings (covering oversight and the compliance program) were reviewed in an earlier webinar (see link below).
This webinar will address the third pillar – violations and consumer harm. Most of the changes and new expectations are centered here and focus on consumer harm. Join us to learn how your compliance program should be structured and how to mitigate risks. Details of the new guidelines and examiner expectations will be addressed.
HIGHLIGHTS
Addressing the root cause(s) of violations identified by you, auditors, or examiners
How to measure the consumer harm resulting from violations
Determining the duration of time over which violations occurred – especially how long before they were identified
How serious is the violation? Is it pervasive or an isolated incident?
How do compliance officers identify, measure, monitor, and control violations of consumer harm?
What is the process for reporting to the board of directors?
TAKE-AWAY TOOLKIT
Sample language for your compliance management system (CMS) policy
Sample third pillar risk assessment to incorporate into your current risk assessment
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS PART 1!
This program is the second of two in a series – there’s still time to register for Part 1 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Oversight & Compliance Management Program” on Wednesday, January 25, 2017
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Compliance officers, senior management, auditors, and compliance councils/committees.
ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc., began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management. Ann is a well-respected presenter and has spoken to audiences across the country for over 25 years. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools. Ann is the author of “The Bank Deposit Documentation Manual for Front-Line Personnel” published by Bankers Publishing Company, and is well represented in numerous industry publications.
The FFIEC has finalized the new Consumer Compliance Rating System which will become effective March 31, 2017. The new guidelines emphasize that having a standard compliance policy is no longer enough. There are now three pillars to the rating system. The first two pillars for compliance examinations and ratings (covering oversight and the compliance program) were reviewed in an earlier webinar (see link below).
This webinar will address the third pillar – violations and consumer harm. Most of the changes and new expectations are centered here and focus on consumer harm. Join us to learn how your compliance program should be structured and how to mitigate risks. Details of the new guidelines and examiner expectations will be addressed.
HIGHLIGHTS
Addressing the root cause(s) of violations identified by you, auditors, or examiners
How to measure the consumer harm resulting from violations
Determining the duration of time over which violations occurred – especially how long before they were identified
How serious is the violation? Is it pervasive or an isolated incident?
How do compliance officers identify, measure, monitor, and control violations of consumer harm?
What is the process for reporting to the board of directors?
TAKE-AWAY TOOLKIT
Sample language for your compliance management system (CMS) policy
Sample third pillar risk assessment to incorporate into your current risk assessment
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS PART 1!
This program is the second of two in a series – there’s still time to register for Part 1 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Oversight & Compliance Management Program” on Wednesday, January 25, 2017
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Compliance officers, senior management, auditors, and compliance councils/committees.
ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc., began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management. Ann is a well-respected presenter and has spoken to audiences across the country for over 25 years. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools. Ann is the author of “The Bank Deposit Documentation Manual for Front-Line Personnel” published by Bankers Publishing Company, and is well represented in numerous industry publications.
(ON DEMAND) The CFPB’s Four Ds of Fair Lending: Deceptive Marketing, Debt Traps, Dead Ends & Discrimination
Email to Order the Recording + Free Digital Download
The CFPB continues to monitor complaints, issue enforcement actions, and discuss the four Ds: deceptive marketing, debt traps, dead ends, and discrimination. Is your institution at risk for any of these fair lending violations? Join this informative session to learn the latest lessons from enforcement actions and proposed regulation changes. Learn key strategies to implement and maintain an effective complaint program. Specific examples will be given for each of the four Ds to help you evaluate potential risks and a variety of tools and resources to proactively manage compliance expectations will be provided.
HIGHLIGHTS
UDAAP concepts explained in simple terms, with real life examples
Marketing practices must be reviewed closely
Fair lending in underwriting, pricing, and collections will be held to new discrimination standards
The CFPB has issued many UDAAP enforcement actions
$100 million fine in September 2016 for “widespread unlawful sales practices” because the bank’s employees secretly opened accounts and shifted funds without consumers’ knowledge or permission – which often incurred fees or other charges
What do employees need to understand about “consumer harm”?
UDAAP issues center on internal controls, compensation, telemarketing, third-party arrangements, and consumer complaints
Is your complaint program in compliance with the latest regulatory guidance?
Seven simple steps to avoid enforcement actions and damages to your reputation
TAKE-AWAY TOOLKIT
Complaint policy, procedures, and tracking form that can be modified for your use
UDAAP compliance resources and regulatory guidance, including FTC guidelines and regulatory resources
UDAAP risk assessment checklist
Matrix covering four key UDAAP risks in the retail footprint, strategic direction, operational concerns, and regulatory environment
Checklist for evaluating consumer harm
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? Lenders, compliance officers, risk managers, senior management, branch managers, customer service managers, loan and deposit operation managers, marketing staff, and product development specialists.
ABOUT THE PRESENTER – Susan Costonis, Compliance Consulting and Training for FIs is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.
The CFPB continues to monitor complaints, issue enforcement actions, and discuss the four Ds: deceptive marketing, debt traps, dead ends, and discrimination. Is your institution at risk for any of these fair lending violations? Join this informative session to learn the latest lessons from enforcement actions and proposed regulation changes. Learn key strategies to implement and maintain an effective complaint program. Specific examples will be given for each of the four Ds to help you evaluate potential risks and a variety of tools and resources to proactively manage compliance expectations will be provided.
HIGHLIGHTS
UDAAP concepts explained in simple terms, with real life examples
Marketing practices must be reviewed closely
Fair lending in underwriting, pricing, and collections will be held to new discrimination standards
The CFPB has issued many UDAAP enforcement actions
$100 million fine in September 2016 for “widespread unlawful sales practices” because the bank’s employees secretly opened accounts and shifted funds without consumers’ knowledge or permission – which often incurred fees or other charges
What do employees need to understand about “consumer harm”?
UDAAP issues center on internal controls, compensation, telemarketing, third-party arrangements, and consumer complaints
Is your complaint program in compliance with the latest regulatory guidance?
Seven simple steps to avoid enforcement actions and damages to your reputation
TAKE-AWAY TOOLKIT
Complaint policy, procedures, and tracking form that can be modified for your use
UDAAP compliance resources and regulatory guidance, including FTC guidelines and regulatory resources
UDAAP risk assessment checklist
Matrix covering four key UDAAP risks in the retail footprint, strategic direction, operational concerns, and regulatory environment
Checklist for evaluating consumer harm
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? Lenders, compliance officers, risk managers, senior management, branch managers, customer service managers, loan and deposit operation managers, marketing staff, and product development specialists.
ABOUT THE PRESENTER – Susan Costonis, Compliance Consulting and Training for FIs is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.
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