BOD – Unfair, Deceptive, or Abusive Acts or Practices for the Financial Institution
Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. As a director, it is crucial to create a UDAAP conscious culture by establishing and maintaining proper procedures to avoid violations of the law. This course describes how financial products or services, such as deposit products or lending activities, can create risks for consumers. This course also provides a deeper understanding of UDAAP so that you are better prepared to satisfy your responsibilities as a director.