Unfair or Deceptive Acts or Practices (UDAP) Policy - $150.00


The purpose of this Unfair or Deceptive Acts or Practices (UDAP) Policy Template is to mitigate potential risks of a bank, credit union, or other type of financial institution posed by Section 5 of the Federal Trade Commission Act (FTC Act) regarding Unfair or Deceptive Acts or Practices (UDAP).

In general, Section 5 of the Federal Trade Commission Act (FTC Act) declares that UDAPs affecting commerce are illegal and the federal banking agencies have authority to enforce Section 5 of the FTC Act for the institutions they supervise.  The Federal Trade Commission (FTC) has authority to take action against nonbanks that engage in a UDAP.  If a UDAP involves an entity or entities over which more than one agency has enforcement authority such as, for example, the FDIC and the FTC, the agencies may coordinate their enforcement actions.  Unlike many consumer protection laws, Section 5 of the FTC Act also applies to transactions with non-consumers and businesses..

Table of Contents

Purpose and Contents - Topic 1
Policy Statement - Topic 2
Determination of Unfair or Deceptive Standard - Topic 3
Unfair Acts or Practices - Topic 4
Deceptive Acts or Practices - Topic 5
Consumer Complaints - Topic 6
Relation to Other Laws - Topic 7
Audit Policy - Topic 8
Staff Training - Topic 9
Retention of Documentation - Topic 10

Recent updates to this product:
08/01/18 Update
Federal Reserve Board Launches Consumer Compliance Supervision Bulletin

This Unfair or Deceptive Acts or Practices (UDAP) Policy Template (approximately 12 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $150.00.

We offer bank policy template documents that are fully customizable to help meet your financial institution's needs. Once you place your order with us, we will send the Microsoft Word documents directly to your email inbox. Our service is fast so you don't have to wait to get started.

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