UDAAP Foundations Coming Soon!

The next Compliance Class we will be launching will be called UDAAP Foundations. As you would expect, this program is going to address everything you need to know related to Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). This program will be divided into two parts: 1) An overview of UDAAP rules and 2) Examples of UDAAP violations. The first part of our program will provide an overview of UDAAP rules and how we got to where we are today. It will include a review of the FTC’s three-prong tests and outline what you need-to-know regarding UDAAP regulations. Following this, the second part of our program will spend a good amount of time reviewing a number of UDAAP violations that have been cited over the years. Our experience tells us that one of the best ways to prevent UDAAP violations in your organization is to know what other organizations have been cited for, and then ensure you aren’t utilizing those inappropriate practices. This part of the program will explain each cited violation covered so that you can go back to your organization and ensure that you are not utilizing the same practice that another financial institution was penalized for.

We plan to release this program in mid to late August (so be sure to watch for our “early bird” discount at that time). A preview of this upcoming Compliance Class can be found here: https://www.compliancecohort.com/udaap-foundations

Upcoming Courses & Changes for 2020

CFPB Reopens Second HMDA Comment Period