Date: Tuesday, March 12, 2013
Time: 9:45 AM - 10:45 AM
Location: Phoenix Convention Center, Phoenix, Arizona
Topic: Product Design in the Age of UDAAP: What Have We Learned to Expect from the Regulators?
All federal banking agencies have issued UDAAP enforcement actions, many jointly with the CFPB. Many of these involve payments products. High-risk areas include overdraft protection, prepaid cards, ancillary products sold with credit cards, and rewards programs. This session will cover the emerging risks for payment product design and how to manage these risks.
- What have we learned about UDAAP, the banking regulators, and the CFPB from recent enforcement actions and regulatory guidance?
- Examples of current UDAAP risks in payment products
- Key Elements of a Good UDAAP Risk Management Program
- How to Implement a UDAAP compliance program
- A list of characteristics of “high risk” products
- A sample risk-assessment methodology