At Summit Bank, we believe trust isn’t just earned—it’s protected. That’s why we uphold the principles of UDAAP, short for Unfair, Deceptive, or Abusive Acts or Practices, a key part of federal consumer protection law. Simply put, it’s our job to ensure you’re treated fairly, honestly, and with transparency.
So, What Is UDAAP?
UDAAP is designed to prevent deceptive marketing, confusing terms, and hidden fees in financial products. In practice, it means that banks like ours are required to be clear, upfront, and ethical in how we serve our clients. We take that a step further: We want every client to walk away feeling respected and empowered—never surprised or misled.
Why It Matters
We’ve all seen it before: too-fine print, fees that come out of nowhere, or terms that sound more like a legal puzzle than a banking agreement. UDAAP exists to prevent those kinds of experiences. Our commitment is that when you bank with Summit, you’ll get information that’s understandable, accurate, and honest so you can make informed decisions with confidence.
How We Put That Into Practice:
- Clear Disclosures
We use straightforward language in our account and loan documents. You shouldn’t need a law degree to understand what you’re signing.
- Accessible Support
Got questions? We make it easy to get answers—whether through a quick phone call, a visit to your local branch, or chatting with us online.
- Ongoing Employee Training
Our team stays current on consumer protection laws with regular training, so you can trust that you’re working with people who know how to serve your best interests.
The Bottom Line:
We have your back. Upholding UDAAP standards is just one way we show it. Every interaction with Summit Bank should reflect our values: fairness, transparency, and trust. If you ever have questions or need clarification, we’re always here to help.