Course length: Approximately 20 minutes
The Consumer Finance Protection Bureau is turning up the heat on unfair, deceptive, and abusive acts and practices (UDAAP) violations. This course examines the elements of UDAAP, and details what can be done to avoid committing UDAAP violations. It addresses the history of why UDAAP regulations are necessary, and the definitions of unfair, deceptive and abusive and the legal applications of each. The course transitions into a practical examination of areas that are UDAAP prone, and suggests UDAAP mitigation techniques. Lastly, guidance on the UDAAP examination process is addressed.
Course objectives include:
• Use Dodd-Frank Act to identify unfair, deceptive, and abusive acts and practices
• Avoid unfair, deceptive and abusive practices
• Pass the UDAAP Examination
More detailed course information is available at: https://www.icemortgagetechnology.com/education/courses/avoiding-udaap-violations
Last Updated 06/2020.
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