Reymann, Director for Consumer Compliance Policy, at (202) 649-5470. reinforces the OCC's continued commitment to banks' compliance with section 5 of the Federal Trade Commission Act and sections 10 of the Dodd–Frank Wall Street Reform and Consumer Protection Act.provides UDAP and UDAAP red flags and risk indicators that can be used to help identify acts or practices that may raise UDAP or UDAAP concerns.includes examination procedures for examiners to assess the effectiveness of a bank's compliance management systems in managing UDAP and UDAAP risks.is consistent with OCC Advisory Letter 2002-3, "Guidance on Unfair or Deceptive Acts or Practices." Section 5 of the Federal Trade Commission (FTC) Act gives the Commission UDAP authority over most non-bank entities (including real estate brokers) that are.reflects the OCC's risk-based supervision approach and is consistent with the OCC's existing principles for assessing banks' compliance management systems as they relate to UDAP and UDAAP.This booklet applies to the examination of community banks. Office of Thrift Supervision Examination Handbook, section 1355, "Unfair or Deceptive Acts or Practices – Credit Practices Rule.".Office of Thrift Supervision Examination Handbook, section 1354, "Unfair or Deceptive Acts or Practices, Federal Trade Commission Act, Section 5.".Moreover, State courts will use it in construing. The booklet contains information for examiners regarding supervision of a bank's 1 practices related to section 5 of the Federal Trade Commission (FTC) Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP), and sections 10 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which prohibit unfair, deceptive, or abusive acts or practices (UDAAP). The consumer protection jurisprudence under section 5 of the FTC Act has great importance to consumers.
This booklet is part of the Consumer Compliance series of the Comptroller's Handbook. The Office of the Comptroller of the Currency (OCC) issued today the new "Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices" booklet of the Comptroller's Handbook.