TOPIC: UDAAP

7 of the most confusing areas of compliance, explained! (plus lots of resources)

Confounded by Community Development? Perplexed by UDAAPs? Baffled by Beneficial Ownership? Flummoxed by Fair Lending discrimination? If so, you're not alone! Here are 7 compliance topics that are widely regarded as the most complex - with tips, tricks, and lots of great resources to help make them easier to manage. Read the post here: https://www.trupointpartners.com/blog/most-confusing-areas-of-banking-compliance-for-compliance-pros


    Two updated UDAAP articles

    Hi all! I wanted to let you know that we updated our most popular UDAAP article from our website and also added another. The first article provides helpful, clear, regulator-approved definitions for unfair, deceptive, and abusive in UDAAP compliance. The second one provides three tips for how to avoid UDAAP compliance risks. Here they are:

    We also have a free UDAAP resource that provides these definitions, plus 17 best practice tips for UDAAP compliance. You can get that for free here: https://www.trupointpartners.com/udaap-compliance-info-kit

    Since these have been updated, I thought it might be helpful to share with the group here. Thanks so much!

      Don't Miss Out! February Webinar - Mastering UDAAP Vendor Risk

      You are invited to our February webinar discussing the do's and don'ts of mastering UDAAP vendor risk. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

      Violations of unfair, deceptive, or abusive acts or practices (UDAAP) are among the most common—and expensive—enforcement actions that banks and credit unions face. Yet these violations don’t occur in a vacuum. They are preventable with careful risk management.

      Join us for an engaging webinar for practical insights into:

      • Activities that pose significant UDAAP risk
      • UDAP vs UDAAP
      • Why consumer complaints matter
      • Analysis of violations: Mortgage servicing and payments (e.g., credit cards and offsets)
      • Avoiding violations with internal and external controls
      • How to risk assess policies and procedures to avoid internal UDAAP transgressions
      • Controlling third-party UDAAP risk

      Don’t miss this opportunity to learn how to manage and mitigate UDAAP risk.

      Register Today!

        February Webinar: Mastering UDAAP Vendor Risk

        You are invited to our February webinar discussing the do's and don'ts of mastering UDAAP vendor risk. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

        Violations of unfair, deceptive, or abusive acts or practices (UDAAP) are among the most common—and expensive—enforcement actions that banks and credit unions face. Yet these violations don’t occur in a vacuum. They are preventable with careful risk management.

        Join us for an engaging webinar for practical insights into:

        • Activities that pose significant UDAAP risk
        • UDAP vs UDAAP
        • Why consumer complaints matter
        • Analysis of violations: Mortgage servicing and payments (e.g., credit cards and offsets)
        • Avoiding violations with internal and external controls
        • How to risk assess policies and procedures to avoid internal UDAAP transgressions
        • Controlling third-party UDAAP risk

        Don’t miss this opportunity to learn how to manage and mitigate UDAAP risk.

        Register Today!

          Regulatory Compliance To-Do List: Q4 2018

          For those of you who may have missed our Q4 Regulatory Compliance Update, we've put together a to-do list of the most timely, important things to consider as you kick off 2019! Download the checklist now and keep an eye out for registration details for our next Regulatory Compliance Update on January 22nd! http://www.pkm.com/resource/regulatory-compliance-to-do-list-q4-2018/

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            CBANC Premium - Workspace Tips

            Manager at a Company (USA)

            Here is a quick tutorial on how to add users to your CBANC Premium Workspace application. Workspace is a central source of truth for your policies, procedures, and other important documents. It also includes 25 policy & procedure checklists, updated by experts as regulations change, to help your team hit the ground running. Workspace is great for collaborating with your board of directors, impressing your examiners, and streamlining policy and procedure management. Works great on iPads without the need to download additional software and has bank-level security built in.

              Complimentary Regulatory Compliance Webinar this Friday, November 2nd

              Join us on Friday, November 2nd for our final quarterly compliance webinar of 2018! During these informational webinars, we cover the latest regulatory changes concentrating on the compliance matters that will most directly impact your financial institution, including:

              •Current Hot topics
              •Upcoming Regulations
              •Approaching Deadlines
              •Examiner Guidance/Best Practices
              •Q&A/FAQs
              •And More!

              We hope to see you this Friday! Register now here: https://register.gotowebinar.com/register/2499434415970702092

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                Mortgage Subservicer Monitoring Procedures

                VP at a bank ($1.2BUSA)

                Hello everyone.

                We are a commercial community bank and we are starting a new residential lending department. We will sell most of the originated loans to the secondary market through a delegated correspondent program and we will not retain servicing for the loans sold. For the few portfolio loans and the interim servicing we will have a subservicer. Does anyone have Subservicing Monitoring Procedures? Do I need any policies since we will not be servicing the loans?

                Thank you

                  UDAAP Compliance 101 [New Post]

                  UDAAP is an important area of focus for compliance officers and financial institutions. In this post, you'll learn what UDAAP is, important definitions, and how to approach some of the key risks. In addition, you'll have the chance to download a free UDAAP info kit!

                  https://www.trupointpartners.com/blog/how-to-avoid-unfair-deceptive-and-abusive-acts-practices

                    7 Lessons Learned from the ABA Regulatory Compliance Conference

                    This year's ABA Regulatory Compliance Conference in Orlando presented an incredible opportunity to learn and grow with other compliance officers. Surrounded by customers, colleagues and friends, I and the rest of the TRUPOINT team had the opportunity to reconnect with former coworkers and meet new friends.

                    In this posts, learn 7 lessons about regulatory trends that we learned at the ABA conference:
                    https://www.trupointpartners.com/blog/the-top-7-lessons-learned-at-the-aba-regulatory-compliance-conference

                      If you use BMA as your platform vendor, PLEASE READ THIS QUESTION!

                      SVP at a bank ($327MUSA)

                      As we are all dealing with the fallout from last week's software update, do you think we have UDAAP exposure in addition to Regulation DD? I'm thinking that we should not charge fees if someone accessed their Reg Z covered, overdraft line of credit because the available balance on the line was included in the customer's available balance on the underlying checking accounts when accessed through online banking. Do you agree? What about charging interest and late fees on the line? Any thoughts would be very much appreciated.