The State of UDAAP: Where Are We Now with All the Regulatory Changes?
Where are we now after the new administration and new leadership at the CFPB? Is UDAAP still a big deal? The short answer is yes – new bureau leadership has signaled one of their priorities is still enforcing consumer protection law that harms consumers, and UDAAP is at the center of that.
Institutions must be familiar with the standard means for compliance and the risk management process, as well as what is important today in this dynamic regulatory environment. Technical compliance is no longer the only issue to be concerned about, as UDAP/UDAAP can found even though every “normal” compliance requirement may have been strictly followed.
In this webinar, we’ll discuss understanding what examiners are focusing on, including areas where a clear rule or regulation might not even apply. This has been a major cultural shift in the regulatory function, and we’ll delve into how to identify UDAP/UDAAP, how to monitor and test for it, and where particular risks are found, among other topics.
