UDAAP/ Junk Fees

On Demand Course

Instructor: Maureen Carollo

Duration: 1 HR

What You'll Learn

Everyone in the banking industry has seen the continued changes in regulatory agencies with the new Administration and the apparent shift in focus on consumer protections. What does this mean for the long-time focus on UDAAP and what the CFPB previously called “junk fees”? We didn’t just walk away from consumer protection, but there have been some very clear shifts in regulatory focus.

We will review the regulatory changes and focus on those areas that will continue to be the most critical, no matter who your consumer compliance regulator is. We will also address the growing emphasis on the shift to state regulatory agencies that are continuing to grow across the country.

Bankers should not just toss UDAAP compliance programs out the window-that baby really does need to stay in the bathwater!

Topics covered in this session

Current expectations of your UDAAP program
Regulatory foundation of UDAAP by regulatory agency
Impact of the massive changes that have occurred with the change in Administration and will help you consider what changes you need to make

*This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

About the Author:

Maureen Carollo

Maureen E. Carollo is a highly experienced risk and compliance professional and instructor/speaker and is currently serves as the Fair Lending Manager, AVP, for MidFirst Bank in Oklahoma City, Ok. MidFirst Bank at over $40B in total assets, is the largest privately held bank in the U.S. Previously, she was the Chief Compliance & Chief Risk Officer, SVP, for Old Glory Bank. She has over 35 years of experience in deposit operations, loan operations, compliance management, risk management, internal audit and BSA/AML/CFT program management areas and has held the Certified Regulatory Compliance Manager (CRCM) designation for over 20 years and also holds the Certified Anti-Money Laundering Specialist (CAMS) certification. She is a graduate of the Southwestern Graduate School of Banking at SMU in Dallas, Texas, and graduated with Recognition for Leadership. She serves on the “ABA Bank Compliance” magazine Editorial Advisory Board, where she has had multiple articles and columns published. She has also received an APEX Award for “Excellence in Publishing.” She has been a regular speaker for the ABA Risk and Compliance Conference, where she serves on the Advisory Board and was awarded the 2021 “Distinguished Service Award” for Compliance. She has also regularly spoken at events for Marquis Centrax, CbanC, Bankers Online, and Bankers Hub. She has been active in the Oklahoma Bankers Association, where she has been past Chairman of the Compliance School Board of Regents and served on the Board for over 20 years. She has also been a frequent speaker for the OBA’s Compliance School and past speaker for their Operations School, Consumer Lending School, and Intermediate Banking School.

On-Demand Course