Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) for Compliance Professionals
Course Number: ABA
Course Code: ABA
Provides a definition of an unfair act or practice, and explores cases of unfair and deceptive credit under UDAAP and unfair debt collection under the Fair Debt Collection Practices Act. Explains the enforcement actions used by the CFPB and proactive steps to prevent UDAAP claims.
Updated: July 2018
What You’ll Learn
After completing this course, students will be able to:
-Describe the background of UDAAP
-Recognize unfair, deceptive, and abusive acts or practices
-Identify the elements that make a practice unfair, deceptive, or abusive
-Identify proactive steps that you can take to avoid UDAAP violations
-Explain how you can help your bank avoid UDAAP claims
Audience: Compliance professionals including compliance managers, officers, and other compliance team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, auditors and lending compliance professionals.