Recognizing and Preventing UDAAP
Course Number: ABA
Course Code: ABA
Explores ways to identify whether an unfair, deceptive or abusive act or practice has occurred. Stresses the importance of recognizing the elements of unfair, deceptive or abusive practices; understand the new and existing federal laws and regulations covering UDAAP and proactively helping your bank to avoid UDAAP claims.
Please note: This course uses the term “UDAAP” (instead of UDAP) throughout the course in order to proactively address the new “abusive” standard under the CFPB’s Title X. Most bank regulators, however, are still examining banks under the old UDAP provisions of Section 5 of the FTC Act?the primary federal law that prohibits unfair or deceptive acts or practices and unfair methods of competition affecting commerce.
Updated: April 2018
What You’ll Learn
After successfully completing this course, you will be able to:
-Recognize the elements of unfair, deceptive or abusive practices
-Describe the new and existing federal laws and regulations covering UDAAP
-Explain how you can help your bank avoid UDAAP claims
Audience: All employees with direct customer contact and all marketing employees.