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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!
For more information or to register CLICK HERE