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 Product Materials Checklist is used to review all marketing materials, customer agreements, and other disclosures, and the systems that produce these items to ensure the bank is not engaging in unfair, deceptive, or abusive acts or practices before the consumer chooses to obtain a product or service. 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.
