Description
Financial institutions have been implementing new regulations through board-approved policies for decades. Existing policies need to be updated as existing regulations are revised, and new regulations are published. Policy Updates are designed to simplify the task of updating existing policies, regardless of where the existing requirement is lodged. The UDAAP Policy Update communicates the Board’s intent to comply with the legal and regulatory requirements that form the basis of Unfair, Deceptive or Abusive Acts or Practices
