New Risk Watch video helps your institution avoid UDAAP violations

FREDERICK, MD (November 3, 2014) – While the Unfair, Deceptive and Abusive Acts and Practices regulation may be notoriously nebulous, a new online video in the Risk Watch series discusses what we do know about UDAAP and prescribes best practices for your institution to avoid violations. In the video, Analyst Quinton Harrison tells us that “UDAAP’s vague aspects make it highly flexible in application, making it seem like a catch-all weapon that the agencies can use when they see something they don’t like.” The video can be foundhere.

“The ‘Risk Watch’ video series is just one of the ways our team of experts is helping financial institutions proactively address compliance challenges,” said Ken Wolff, CEO of AffirmX, which sponsors the series. ”We encourage credit unions of all sizes to take advantage of these educational resources and contact us to learn more about our solutions.”

AffirmX provides automated risk intelligence solutions that help financial services institutions reduce risk management workloads, anxieties and costs. The AffirmX Risk Intel Center delivers accurate risk intelligence based on expert review of internal and external data sources through a query-based workflow engine. AffirmX enables clients to spend less time searching for issues and more time proactively remediating and mitigating risks so that they can focus on their core business.

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