Understanding UDAAP

Unfair, deceptive, or abusive acts and practices (UDAAP) can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. Federal Regulations make it illegal for any provider of consumer financial products or services to engage in unfair, deceptive or abusive acts or practices.

This course introduces UDAAP and how to create policies and procedures and products and services that will not violate the federal regulations. 

Learning Objectives:

• Define UDAAP
• Explain what an unfair, deceptive, or abusive act or practice is
• Identify acts and practices that prompt CFPB to take UDAAP enforcement action
• Create and maintain a UDAAP compliance program

Course Outline:

• What is UDAAP
• Sample UDAAP Violations
• Creating a UDAAP Compliance Program

Rev-Sept. 2023. Course Length = 30 minutes.

This course is worth 0.5 CPE.