Description
Checklists are designed to simplify tasks related to reviewing products and services for the presence of unfair, deceptive, or abusive acts or practices. The UDAAP Employee or Third Party Checklist is used to evaluate bank employees and third parties to ensure neither the financial institution nor a third party performing services on behalf of the financial institution is engaging in unfair, deceptive, or abusive acts or practices. An evaluation of products currently offered should be performed, and an evaluation for any new or revised product should occur before the product is offered to customers.
