UDAAP: The UDAP/UDAAP “Lens”

To instill a culture of compliance and awareness, organizations involve individuals who can view proposed new products or changes through a UDAAP (Unfair, Deceptive, or Abusive Act or Practices) lens. This often requires looking outside the organization, such as inviting trusted customers to provide feedback on whether they understand the proposed changes and if there are any gaps or confusing aspects. Having this UDAAP perspective as part of the compliance management process is crucial.