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#1774462 - 01/09/13 09:39 PM UDAAP Risk assessment
SUSANE1 Offline
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Joined: Mar 2008
Posts: 808
Do regulators require or "request" a UDAAP Risk Assessment.

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Risk Management
#1774859 - 01/10/13 06:19 PM Re: UDAAP Risk assessment SUSANE1
Jerseygirl Offline
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Joined: Apr 2005
Posts: 684
Jersey Shore
Just finished an OCC exam and for this go around they wanted to see a policy. Expect next year to have to produce a risk assessment for them. Will probably use the CFPB exam as a guide to develop.

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#1775877 - 01/14/13 03:25 PM Re: UDAAP Risk assessment Jerseygirl
Reads Regs Offline
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Joined: Nov 2004
Posts: 2,309
Interesting. OCC didn't ask us for this during our exam which concluded in August 2012. I'll have to put something together for when they come back this year. Thanks for the information.
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1776088 - 01/14/13 08:05 PM Re: UDAAP Risk assessment SUSANE1
Retired DQ Offline
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Turnpike Exit 10
We do use a UDAAP check list on our new product risk assessment. And the oCC was just here and didn't ask for it.
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Get your facts first, then you can distort them as you please. - Mark Twain

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#1776349 - 01/15/13 04:20 PM Re: UDAAP Risk assessment SUSANE1
happyauditor Offline
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happyauditor
Joined: Nov 2004
Posts: 812
NY
Perhaps the OCC is leaving that for the CFPB?
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* My opinion is not necessarily that of my employer.

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#1776461 - 01/15/13 06:49 PM Re: UDAAP Risk assessment SUSANE1
Retired DQ Offline
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Turnpike Exit 10
eek
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Get your facts first, then you can distort them as you please. - Mark Twain

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#1980124 - 12/01/14 10:52 PM Re: UDAAP Risk assessment SUSANE1
HMS Pippii Offline
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HMS Pippii
Joined: Apr 2003
Posts: 1,636
snorkeling in warm, clear wate...
BUMP for an update:

Has anyone been asked for their UDAAP risk assessment during this year's exam cycle? If so, who is your primary regulator?
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#1980139 - 12/01/14 11:50 PM Re: UDAAP Risk assessment HMS Pippii
Reads Regs Offline
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Joined: Nov 2004
Posts: 2,309
The OCC did not bring up UDAAP during our exam in August 2014.
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1980245 - 12/02/14 04:08 PM Re: UDAAP Risk assessment SUSANE1
RR Jen Offline
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RR Jen
Joined: May 2003
Posts: 3,760
Running and riding everywhere ...
Not here either, OCC, we discuss it in each individual new product/service risk assessment.
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