UDAAP: Civil Money Penalties & Examiners’ Findings on Unfair, Deceptive, or Abusive Acts or Practices

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Member PriceNon-Member PriceDescription
$175.00 Archived Webinar + Free CD ROM
$169.00 Archived Webinar ONLY (for CUs < $20M in Assets)
   

Tuesday, November 5, 2013

10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

UDAAP stands for “unfair, deceptive, or abusive acts or practices” and has unfortunately become a common term in the credit union industry. Under the Dodd-Frank Act, it is unlawful for any provider of consumer financial products or services (in other words, your credit union) to engage in any unfair, deceptive, or abusive act or practice. What constitutes an unfair, deceptive, or abusive act or practice, however, is often nebulous and ambiguous.

Technically, the CFPB is the only regulatory body that has rule-making authority under the Dodd-Frank Act to define a UDAAP violation. But that has not stopped other regulators and examiners from defining their own UDAAP violations. Even if the credit union is in full compliance with all laws and regulations, an examiner may cite the credit union for a UDAAP violation if the examiner determines that “something” seems to be unfair, deceptive, or abusive. This webinar will explain the acts and practices that examiners consider unfair, deceptive, or abusive, and how you can protect your credit union from UDAAP violations.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • The most-common UDAAP violations
  • Ways to defend against these alleged violations
  • Actual examples of unfair, deceptive, and abusive practices by credit unions
  • How to avoid these practices at your credit union
  • Marketing materials that have been found to be UDAAP violations
  • Potential liability for third-party vendors who commit UDAAP violations

  • TAKE-AWAY TOOLKIT
    • CFPB exam procedures regarding unfair, deceptive, or abusive acts and practices
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is designed for deposit and loan personnel, including officers, member service representatives, tellers, operations staff, auditors, compliance personnel, and managers.

PLEASE NOTE
Webinar content is subject to copyright and intended for your individual credit union’s use only.

MEET THE PRESENTER

Elizabeth FastElizabeth Fast
Spencer Fane Britt & Browne LLP

 
View Shopping CartView Registration Options and Pricing
Member PriceNon-Member PriceDescription
$175.00 Archived Webinar + Free CD ROM
$169.00 Archived Webinar ONLY (for CUs < $20M in Assets)