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Third-party service providers and UDAAP

Question: 
We use a third-party service provider to manage some of the benefits of our “Platinum Account”. Are there possible UDAAP issues lurking here?
Answer: 

Oh my, yes! Add-on services, such as identity theft protection”, must be closely monitored to ensure that they are properly managed and of benefit to the consumer.

Learn more about Patricia’s webinar UDAAP & Truth in Savings: 10 Common Errors .

First published on 04/17/2016

Filed under: 
Operations
Filed under compliance as: 
TISA
New Accounts
Advertising
Operations

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