In this day and age of UDAP/UDAAP, it’s clear that how you say what you say in your advertisements is just as important as what you say. Style matters – you must be clear and conspicuous in your wording so as not to confuse and deceive. If you read enforcement actions related to marketing and advertising carefully, it's clear what else is being targeted: sales and marketing practices. It’s always useful to learn from others' mistakes, regardless of your bank’s size or regulator.

With everything happening in the financial services industry, now more than ever it's important that your advertising and marketing efforts are effective. Moreover, regulator and examiner attention to your advertising and marketing efforts is at an all-time high. Advertising is being looked at in different ways than before. There are standards to observe, especially when it comes to UDAAP (Unfair, Deceptive, or Abusive Acts or Practices). This is a seismic shift in regulatory enforcement, where practices that were perfectly acceptable in years past are now problematic. In the rush to attract new business and keep the clients you have, compliance requirements can easily be missed or ignored.

What can you say in advertisements? What must you say? What can you not say? Many sets of rules govern these questions, and more are on the way. How about your promotional efforts - contacting prospects and customers to let them know what you have available?

Covered Topics include:

This is a three-part webinar series that covers the comprehensive landscape of marketing and advertising compliance requirements. In these webinars, we’ll provide many examples of how the rules apply as well as recommendations on how to deal with all the requirements. We’ll cover not only the UDAP/UDAAP aspects of advertising but also the many technical requirements of the deposits and loan regulations that deal with marketing and advertising. As well, we’ll cover the many marketing program-specific rules that cover campaigns; for instance, what are the rules when you send emails? Use the phone? We’ll also talk about using data and customer information in marketing, such as privacy rules and regulations.

Finally, we’ll also delve into the technical aspects of marketing and advertising: using artificial intelligence, algorithms, and auto-decisioning. We’ll also discuss various media, including social media and digital channels.

As the compliance environment becomes more complex, your marketing department must stay on top of all the rules and regulations. These sessions will help.

Part 1:

• In-depth discussion of UDAP/UDAAP requirements - attention to unfair, deceptive, and abusive acts and practices (UDAAP). Plus - what may be considered abusive? How can you stay clear of trouble? Don't miss the forest for the trees.
• Examples of unfair and/or deceptive advertising
• Discussion of enforcement actions and UDAP practices, plus recommendations
• Sales practices and conduct risk – what are the issues? What will examiners look for? How best to be ready
• Marketing services agreements – attention on third-party activities
• Native advertising issues
• Utilizing technology in advertising: algorithms, artificial intelligence, and associated risks
• What data are you using to create personal advertising? Coming regulations (DFA 1033)
• Social media and control over messaging – targeting risks

Part 2:

• Deposit advertising, including Reg. DD requirements
• Tax reporting issues
• FDIC official advertising statement requirements – plus updates: what’s coming?
• Nondeposit Investment Product (NDIP) and insurance sales provisions
• Rules prohibiting lotteries – what can and can’t you do with drawings and contests?
• Marketing campaigns – privacy issues and sharing data and information with affiliates and non-affiliated third parties
• Prescreening campaigns – FCRA requirements
• Offering free credit reports
• Guidance on the use of testimonials in advertising
• Social media – regulatory guidance and cautions
• TCPA (Telephone Consumer Protection Act) – Do Not Call requirements, plus related Do Not Solicit issues
• TSR (Telemarketing Sales Rule) fraud issues
• Email issues – CAN-SPAM and other concerns
• Does anyone use faxes anymore? The Junk Fax Prevention Act
• Online marketing to children – COPPA

Part 3:

• Fair Housing Act (FHA) rules – the Equal Housing Lender logo and statement
• Fair lending considerations in marketing and advertising – what to be aware of and hot spots (such as geographical restrictions/redlining)
• Digital redlining issues
• Determining your Reasonably Expected Market Area (REMA), and what this means
• Truth in Lending/Reg. Z requirements, including additional requirements for mortgage loans
• Tax deductibility issues
• SAFE Act disclosure issues

Date & Time

Wednesday, November 6, 2024 – Session I

Wednesday, November 20, 2024 – Session II

Wednesday, December 4, 2024 – Session III

Who Should Attend?

Anyone involved in developing and marketing your institution's products and services, including the marketing department, compliance officers, auditors, business managers, sales and service staff, and anyone else whose duties involve promotion.