In this conversation, Payments Professor and Kari Mitchum discuss the role of the Independent Community Bankers of America (ICBA) in supporting community banks and the electronic payments industry. Kari shares her personal journey into the field, the importance of community banks in local economies, and the advocacy efforts ICBA undertakes to represent these institutions. The discussion also covers ICBA's educational initiatives, innovation in banking, and the future of community banking.
All content for The Payments Podium is the property of The Payments Professor and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
In this conversation, Payments Professor and Kari Mitchum discuss the role of the Independent Community Bankers of America (ICBA) in supporting community banks and the electronic payments industry. Kari shares her personal journey into the field, the importance of community banks in local economies, and the advocacy efforts ICBA undertakes to represent these institutions. The discussion also covers ICBA's educational initiatives, innovation in banking, and the future of community banking.
What is UDAAP? (Unfair, Deceptive, or Abusive Acts and Practices)
The Payments Podium
28 minutes 37 seconds
8 months ago
What is UDAAP? (Unfair, Deceptive, or Abusive Acts and Practices)
In this episode of the Payments Podium Podcast, the Payments Professor, Kevin Olsen, sits down with special guest Karen Sylvester to unravel the complexities of UDAP (Unfair, Deceptive, or Abusive Acts and Practices) and its impact on electronic payments and financial institutions.
Discover how Karen’s journey from part-time teller to industry expert has shaped her perspective on consumer protection, compliance, and regulations. Learn about the two versions of UDAP – one overseen by the FTC and the other by the CFPB – and how they govern business and financial institution practices.
📌 Key Takeaways:
The four Ps of UDAP: Prominent, Presented, Placement, and Proximity.
The critical role of clear disclosures for compliance.
How evolving regulations, like those on fees, impact financial institutions.
The importance of consumer responsibility and financial literacy.
Practical career advice: Embrace challenges and learn from every opportunity.
Learn more from the Payments Professor
"We make learning about payments rules and regulations fun and easy!"
www.PaymentsProfessor.com
The Payments Podium
In this conversation, Payments Professor and Kari Mitchum discuss the role of the Independent Community Bankers of America (ICBA) in supporting community banks and the electronic payments industry. Kari shares her personal journey into the field, the importance of community banks in local economies, and the advocacy efforts ICBA undertakes to represent these institutions. The discussion also covers ICBA's educational initiatives, innovation in banking, and the future of community banking.
