The Dodd-Frank Act gave the CFPB broad discretion in enforcing UDAAP. Unfortunately, the CFPB has repeatedly said that it does not plan to issue implementing regulations but instead will rely on guidance and enforcement actions to ensure compliance. This leaves many unanswered questions about how to comply. In this session, we'll cover UDAAP definitions and CFPB enforcement actions, as well as things to consider as you review your credit union's advertisements, products, services, and actions through a UDAAP lens.
- What are "unfair," "deceptive," and "abusive" acts and practices
- Recent CFPB UDAAP actions regarding indirect lending, advertising and marketing, and denial of credit union services
- Conducting a UDAAP Risk Assessment
- UDAAP risk mitigation methods
- UDAAP advertising pitfalls and how to avoid them
Who Should Attend?Chief Compliance Officers, Compliance, legal, risk management staff, Chief Marketing Officers/Vice Presidents of Marketing, Marketing, Advertising, and PR staff, Chief Lending Officers/Vice Presidents of Lending and Lending staff will all benefit from this program.
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