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Jo Ann Barefoot, Lyn Farrell, and Carl Pry to Speak at Power Session at ABA Regulatory Compliance Conference
Date: Monday, June 10, 2013
Time: 7:15 AM - 8:15 AM
Location: Hyatt Regency Chicago, Chicago, IL
Topic: Finding Fairness Risks: Best Practices in UDAAP Monitoring and Testing

While UDAAP compliance programs are well underway in many institutions, the development of effective UDAAP testing and auditing programs remains elusive. CFPB enforcement actions against banks to date have cited lack of UDAAP auditing for failing to find and remedy violations. However, testing and auditing for UDAAP is difficult both in scope and execution, especially since root causes often lie in areas that are not checked at all through traditional compliance monitoring. Solving the UDAAP testing puzzle is a critical element in building a strong UDAAP compliance program. Led by Treliant’s co-chairman, Jo Ann Barefoot, we will discuss the best practices for:

Developing UDAAP testing processes
Scoping UDAAP auditing and testing programs
Developing testing questionnaires
Leveraging existing data sources and creating new ones
Retesting fixes on high-risk issues
Measuring and rating UDAAP risks
Reporting results of UDAAP monitoring and testing

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