> Webinar: UDAAP: Civil Money Penalties & Examiners’ Findings on Unfair, Deceptive, or Abusive Acts

Tuesday, November 05, 2013
3:00 PM Eastern Daylight Time
4:30 PM


UDAAP stands for “unfair, deceptive, or abusive acts or practices” and has unfortunately become a common term in the credit union industry. Under the Dodd-Frank Act, it is unlawful for any provider of consumer financial products or services (in other words, your credit union) to engage in any unfair, deceptive, or abusive act or practice. What constitutes an unfair, deceptive, or abusive act or practice, however, is often nebulous and ambiguous.

Technically, the CFPB is the only regulatory body that has rule-making authority under the Dodd-Frank Act to define a UDAAP violation. But that has not stopped other regulators and examiners from defining their own UDAAP violations. Even if the credit union is in full compliance with all laws and regulations, an examiner may cite the credit union for a UDAAP violation if the examiner determines that “something” seems to be unfair, deceptive, or abusive. This webinar will explain the acts and practices that examiners consider unfair, deceptive, or abusive, and how you can protect your credit union from UDAAP violations.


  • The most-common UDAAP violations
  • Ways to defend against these alleged violations
  • Actual examples of unfair, deceptive, and abusive practices by credit unions
  • How to avoid these practices at your credit union
  • Marketing materials that have been found to be UDAAP violations
  • Potential liability for third-party vendors who commit UDAAP violations


  • CFPB exam procedures regarding unfair, deceptive, or abusive acts and practices
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

This informative session is designed for deposit and loan personnel, including officers, member service representatives, tellers, operations staff, auditors, compliance personnel, and managers.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.

PLEASE NOTE: Your registration fee allows you to have one telephone connection. However, as many people as you like may listen from your office speaker phone.  If you register for the webinar, your registration fee also includes one internet connection from a single computer terminal.


The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.

Can't attend the live webinar?  The ON-DEMAND WEB LINK** is a recording of the live event including audio, visuals, and handouts. We even provide the presenter's email address so you may ask follow-up questions. Approximately 1 week prior to the webinar, you will receive an email with the web link. This web link can be viewed anytime 24/7, beginning 6 business days AFTER the webinar and will expire 6 months after the live program date.  But there's more . . . AS AN ADDED BONUS, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the on-demand link or this "off-the-shelf" training program for those that could not attend the live seminar and for future training.

*CD Rom for PC use only
**All materials are subject to copyright and intended for your credit union's use only.

NEW! Listen on your iPad, iPhone, or Android. Instructions will be emailed to you with the on-demand link.

$199.00 Webinar per connection
$199.00 Archived On-Demand Web Link & Free CD ROM
$249.00 Both Live Webinar & Archived On-Demand Web Link & Free CD ROM

TIME: 3:00 p.m. - 4:30 p.m.

To register and pay by check, email Mary Zelinsky at mzelinsky@njcul.org and your credit union will be invoiced. To register and pay online, click here