Find answers to questions such as: What makes an ERM program effective? How should it be implemented?
Avoid UDAAP Violations
Don’t Get Lost In UDAAP: The Online Companion
ABA Banking Journal
Transforming Compliance: Why you have to do it—and the tools to do it with.
The New “A” in UDAAP
The role of internal audit should be to assess the processes by which the institution manages the compliance risks associated with UDAAP and identify potential risks that management should address to prevent such acts or practices.
Nine Dangerous Words: "Show Me Where It Says We Can't Do That"
A rising regulatory focus on UDAAP — unfair, deceptive and abusive acts and practices — has made, "show me where it says we can't do that," a very dangerous sentence.
From UDAP to UDAAP: New directions in regulation and enforcement
Financial institutions should identify red flag areas that pose exceptional UDAAP risks. For example, products sold on a commission basis or with any kind of incentive carry a higher risk.
The New “A” in UDAAP: What does this mean for your compliance program?
Session at the ABA Regulatory Compliance Conference
PowerPoint presentation from a session at the ABA’s Regulatory Compliance Conference in 2011.
A developing area of bank examination: Avoiding UDAAP violations and penalties
Stites & Harbison
In 2010, Woodforest Bank was ordered to pay $12 million in restitution to customers and $400 thousand in civil money penalties for failure to impose a reasonable limit on overdraft fees and failure to provide overdrawn customers with the opportunity to avoid additional fees under its overdraft protection program.
UDAAP and the New Fair Lending Standard
Western Independent Bankers
So how do fair lending laws and UDAAP intersect? The relationship between the two may not be apparent at first, but guidance provided to federal examiners indicates that if a violation of fair lending laws is identified than UDAAP must also be evaluated.
10 Steps Your Bank Should Take to Comply with the Tricky UDAAP
Western Independent Banks
Here are 10 steps your bank should take to ensure compliance with this tricky regulation.