LexisNexis ( October 22, 2021, 11:04 AM EDT) -- Banks can be liable for fraud under state unfair and deceptive trade practices (UDAP) acts depending upon the nature of the fraud. State attorneys general are very aggressive in using UDAP statutes against financial institutions, as are consumers—often in class actions. One of the big attractions of proceeding under a state UDAP statute is the potential award of treble damages....