From Afterthought to Strategic Approach: Managing Ancillary Product Refunds
Regulatory guidance on refunding cancelled ancillary products is increasing. Financial institutions need to leverage a proactive approach to maintain compliance with these changing regulations. In this whitepaper you can expect to find the following:
- What Are Ancillary Products?
- What Triggers a Cancellation or Refund?
- The Current Regulatory Landscape for Financial Institutions
- Important Compliance Factors and Understanding UDAAP
- Pros and Cons for Financial Institutions
- How to Get Started: Two Possible Approaches
- A Solution That Solves: Product Refund Liability
- 5 Takeaways for Product Refund Liability
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