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Avoiding UDAAP Claims, Errors & Penalties

Sep 27 2:00 PM - Sep 27, 2022 3:30 PM
Sep 27, 2022 2:00 PM - 3:30 PM
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You may know that UDAAP stands for unfair, deceptive, or abusive acts or practices, but do you know what these terms really mean? Avoiding UDAAP enforcement actions – and the claims that lead to them – should be a high priority. Learn more about regulators’ expectations and situations that got other financial institutions into hot water.

Learning Objectives

  • Define the terms unfair, deceptive, and abusive practices as they apply to financial institutions
  • Track errors using a log/system to improve your process and train staff
  • Understand the penalties for noncompliance
  • Explain the processes for resolving claims related to substitute checks and items deposited through remote deposit capture
  • Distinguish between regulatory error resolution processes for debit and credit cards

Enforcement actions, monetary penalties, and bad publicity – three things to avoid as much as possible. Properly handling complaints and error claims depends on your knowledge of the various regulatory requirements and examiners’ expectations for dealing fairly with accountholders. Every institution must take steps to avoid UDAAP (unfair, deceptive, or abusive acts or practices) claims, but what does that mean exactly? What practices get financial institutions into trouble? This webinar will dive into regulators’ expectations and scrutinize activities that have led to UDAAP enforcement actions. It will also address the error-resolution requirements for open-end credit, credit cards, debit cards, international remittance, Check 21 (substitute checks) and remote deposit capture.



Mary-Lou Heighes, Compliance Plus, Inc.

Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.

Involved with financial institutions since 1989, Mary-Lou has over 25 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.




Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Compliance