Emerging UDAAP Risks: Recent Enforcement Actions and State Litigation Trends
Dena Somers is a regulatory compliance expert with more than 20 years legal and consulting experience in the banking and financial services industries. She has domain expertise in all areas of consumer and mortgage lending compliance, including privacy, AML/BSA, OFAC, and information security requirements. Previously, Dena served as General Counsel/CCO for several fintech, mortgage, and specialty finance lenders where she led all aspects of the legal, compliance, and risk management functions. She provides regulatory compliance consulting to lenders and service providers nationwide.
Political change often means policy change. Changes at the CFPB and the offices of states’ Attorneys Generals is changing UDAAP enforcement and the methods to investigate potential violations of consumer protection laws. Learn the acts and practices that examiners are determining to be unfair, deceptive, or abusive and how to protect your institution from UDAAP violations.
- Summary of UDAAP regulations and recent state consumer protection initiatives
- Insights into the current UDAAP/UDAP enforcement regime at the federal and state levels
- Case studies on UDAAP litigation concerning overdraft practices
- The latest investigation trends and get practical guidance on managing your institution’s UDAAP risks
- Takeaway: This webinar will include a sample UDAAP risk assessment for financial institutions of all different sizes
- Bonus: Download the materials provided to satisfy your institution’s UDAAP training concerning recent trends and compliance risks
Course Level - Intermediate
Who Should Attend
- Customer service representatives
- Consumer Lenders
- Compliance personnel
- Branch managers and branch administration
- Executive Management (CCO, CEO)
- Compliance counsel
- Marketing staff
Why Should Attend
Unfair, deceptive, or abusive acts and practices (UDAAPs) can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. Under the Dodd-Frank Act, it is unlawful for any provider of consumer financial products or services or a service provider to engage in any unfair, deceptive, or abusive act or practice.