Alert May 18, 2010

OTS Issues New UDAP Examination Handbook Section

The OTS published a new examination handbook section which provides examination guidance for evaluating whether a federal savings bank has engaged in unfair or deceptive acts or practices in violation of Section 5 of the Federal Trade Commission Act. The handbook discusses the standards used by the OTS to determine what constitutes an unfair or deceptive act or practice, and provides examples of FTC Act enforcement actions. Click here for the OTS regulatory bulletin which includes this new section.