Event Calendar

Tuesday, June 14, 2022

New UDAAP Exam Parameters: Beyond Fair Lending Webinar

Start Date: 6/14/2022 1:00 PM MDT
End Date: 6/14/2022 2:30 PM MDT

Event Website: https://financialedinc.com/New-UDAAP-Exam-Parameters-Beyond-Fair-Lending

Organization Name: Independent Bankers of Colorado

Maelynn Lewis
Email: mlewis@ibcbanks.org
Phone: (720) 607-7937

Compliance alert!  The changes to the UDAAP exam manual go far beyond fair lending. Under the new parameters, the CFPB can bring discrimination claims related to non-credit financial products and services. You can’t afford to miss this crucial update. Recently the CFPB broadened the spectrum of what may qualify as a UDAAP violation and updated their examination manual accordingly. The changes focus on identifying discrimination in all consumer finance markets, including deposits, payments, remittances, and collections. It’s critical that financial institutions understand, and are monitoring for, practices that may trigger unfair discrimination throughout the organization, including the assessment of fees and level of service provided to accountholders. In short, the exam manual and UDAAP compliance now go way beyond fair lending! Denying any product or service, such as refusing to open a checking account based on a person’s religion or race, is an unfair practice, even when the Equal Credit Opportunity Act has not been violated. For example, it’s likely that your institution uses demographics to aid in marketing products and services. But these models and algorithms may inadvertently include a discriminatory practice, even when used for deposit-related activities. Join this timely webinar to learn how to recognize potential UDAAP risks in all areas of your institution.

  • Identify discriminatory acts or practices that materially increase the risk of consumers being treated unfairly
  • Recognize how discrimination impacts deposit accounts, marketing, fees, product offerings, and servicing activities
  • Update policies, procedures, and processes to avoid discrimination
  • Create procedures to respond to service and collections calls from consumers with limited English proficiency (LEP)
  • Develop a compliance program to monitor for potential Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) concerns, including discrimination
  • Provide examples of discriminatory practices during training exercises
  • Assimilate recent changes to the CFPB’s UDAAP examination manual
  • Examples of discriminatory practices to aid in training exercises
  • Considerations for identifying LEP accountholders
  • Sample UDAAP policy
  • UDAAP risk assessment template
  • Reference list
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits
This informative session is designed for staff involved in developing, marketing, or monitoring financial products and services offered by your institution, including operations staff, deposit staff, marketing personnel, trainers, compliance staff, auditors, and risk management personnel.
Consumer Lending Regulatory Essentials: Fair Lending, UDAAP, Privacy & More, Thursday, September 1, 2022
Avoiding UDAAP Claims, Errors & Penalties, Wednesday, September 28, 2022
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.
Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Molly holds a bachelor’s from the University of Akron and an MBA from Ashland University.

1. Live Webinar Includes
  • Unlimited connections within your institution to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Presenter’s contact info for follow-up
 2. On-Demand Webinar Includes
  • Recording of the Live Webinar
  • Available two business days following Live date
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your institution
  • Presenter’s contact info for follow-up
3. Purchase the BOTH Option to receive all the benefits listed above! Full registration descriptions can be found here.