OCC Bulletin 2024-33 | December 3, 2024

Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices: Updated Comptroller’s Handbook Booklet and Rescissions

To

Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Summary

The Office of the Comptroller of the Currency (OCC) today issued version 1.1 of the “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” booklet of the Comptroller’s Handbook. The booklet contains information for examiners regarding supervision of a bank’s¹ practices related to section 5 of the Federal Trade Commission Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP), and sections 1031 and 1036 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which prohibit unfair, deceptive, or abusive acts or practices (UDAAP).

Updates are summarized in the “Table of Updates Since Publication” in the back of the booklet. Refer to the “Foreword” booklet of the Comptroller’s Handbook for more information regarding the OCC’s processes for revising and updating booklets.

Rescissions

The updated booklet replaces version 1.0 of the booklet with the same title issued June 2020. Also rescinded is OCC Bulletin 2020-65, “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices: New Comptroller’s Handbook Booklet and Rescissions,” which transmitted version 1.0 of the booklet.

Note for Community Banks

The “UDAP/UDAAP” booklet applies to the OCC’s supervision of community banks.

Highlights

The updated booklet
- provides further clarity regarding sound risk management practices and guidance to examiners regarding overdraft services.
- incorporates updates from the Consumer Financial Protection Bureau regarding data protection and information security.
- includes an updated version of the “Appendix B: UDAP and UDAAP Risk Indicators.”
- reflects OCC and interagency issuances that have been published or rescinded since June 2020.
- includes other minor updates for general clarity.

Further Information

Please contact Candace Matzenauer, Director for Consumer Compliance Policy, at (202) 549-5470.

Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy