UDAP

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In an effort to protect consumers, some Federal banking agencies are becoming interested in watching for unfair or deceptive acts or practices (UDAP) in the marketing and operation of financial products or services. Although the UDAP law was created for the general marketplace, it might prove to be applicable in the banking and finance industry particularly in the area of interest rates charged to consumers and reasonable periods to settle their balances. Financial institutions should have a solid background in UDAP laws as they may become the framework for monitoring marketing financial products to consumers in the future.

The Knowledge Congress is assembling a panel of distinguished professionals and key regulators to inform the public of ways to avoid unfair and deceptive practices employed by some financial institutions in issuing credit cards. The speakers will present their expert opinions in a two-hour LIVE Webcast.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 083787
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for Avoiding Unfair & Deceptive Marketing Practices for Banks & Credit Unions (UDAP laws) live webcast:


  Event Talking Points (click here to view more)
SEGMENT 1:


Leonard Chanin, Associate Director, Division of Consumer and Community Affairs,
Federal Reserve Board

- Background of the application of the FTC Act to banks and credit unions
   - A relatively new and continually emerging issues
- Meaning of "deception" and "unfairness"
- Federal Reserve Board's reliance on FTC Act standards in amending Reg Z
- Deceptive or misleading practices in mortgage advertising
- Are there litigation risks at all - the status of preemption of lawsuits in the courts
- Potential lawsuit liability
   - The central issue of "deception"
   - Do the courts require proof of causation
   - Are some advertising or marketing practices inherently "unfair
- Recent federal banking agency rules prohibit several practices in connection with consumer
  credit card plans.
- How will these rules affect banks and other depository institutions?
- Who has the authority to enforce these rules?

SEGMENT 2:


Thomas M. Hefferon, Partner,
Goodwin Procter LLP

** Speaker Talking Points to be added soon.. **

SEGMENT 3:


Paul F. Hancock, Partner,
Kirkpatrick & Lockhart Preston Gates Ellis LLP

** Speaker Talking Points to be added soon.. **



Federal Reserve Board
Leonard Chanin
Associate Director, Division of Consumer and Community Affairs
speaker bio »»

Goodwin Procter LLP
Thomas M. Hefferon
Partner
speaker bio »»

K&L Gates LLP
Paul F. Hancock
Partner
speaker bio »»

Who Should Attend?

Directors
Senior Management
Compliance Officers
Risk Officers
Marketing Staff
Customer Service Management
Bank Consultants
Financial Services Vendors

Why Attend?

This is a must attend event for anyone to grasp the up-to the-minute updates on Unfair & Deceptive Acts & Practices (UDAP).
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    



Avoiding Unfair & Deceptive Marketing Practices for Banks & Credit Unions (UDAP laws)
Speaker Firms:


Federal Reserve Board




 

 

The Knowledge Conference is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org

 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In New York, our programs are submitted immediately after the event live date and attendees are sent the approval codes once we receive them from the New York State Bar. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

 
Enrolled Agents Sponsor ID Number: 760

We have entered into an agreement with the Office of Professional Responsibility, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the Office of Professional Responsibility as to the quality of the program or its contribution to the professional competence of the enrolled individual.