Unfair, Deceptive, or Abusive Acts or Practices  (UDAAP) Compliance Course

According to the CFPB’s Bulletin 2013-07 “UDAAP’s can cause significant financial injury to consumers, erode consumer confidence, and undermine fair competition in the financial marketplace.”

 This 30-minute course will focus on how to determine whether an act is unfair, deceptive, or abusive, and will also provide examples of such acts, and will also touch on the role of consumer complaints, and should be used by Mortgage Lenders, Mortgage Brokers, and Depositories as part of their normal training regimen in compliance with the TILA rules relating to training of all staff members.  The following topics will be covered:

  • A breakdown of the DFA’s standard for unfairness;
  • The Four P’s Test;
  • Abusive behaviors under the DFA;
  • The CFPB’s policy statement on abusive acts & practices;
  • Examples of unfair or deceptive acts;
  • The Role of Consumer Complaints;
  • UDAAP’s Relationship with TILA;

 

$39.00

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