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Wisconsin Credit Union Foundation

UDAAP: Consumer Complaint Monitoring & Avoiding Harm

This jam packed session will review best practices, procedures, and tools to strengthen your UDAAP compliance program!

Location


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Type of Event
On Demand Webinar

Who Should Attend
  • On Demand
  • Webinars
  • Compliance

Purchase

Description

The CFPB examination manual’s UDAAP (unfair, deceptive, or abusive acts or practices) section addresses the importance of the consumer complaint process. UDAAP violations can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. Bottom line – everyone wants to avoid UDAAP issues!

Consumer complaints play a key role in detecting potential UDAAP issues and are an essential information source for regulatory examinations, enforcement, and rule - making. Complaints also have the potential to flag compliance management weaknesses, including training, internal controls, and monitoring. This jam - packed session will review best practices, procedures, and tools to strengthen your UDAAP compliance program!

Learning Objectives

  • UDAAP and consumer complaint policy language 
  • Examples of unfair, deceptive, or abusive acts or practices and how to avoid them 
  • Guidelines to govern fee waivers for both deposit and loan products 
  • Defining and training staff on consumer complaints 
  • Tracking, responding to, and reporting consumer complaints to the board

Speaker

Dawn Kincaid, Brode Consulting Services, Inc.

Investment

$259.00