Back in February, Acting Director of the CFPB Dave Uejio stated one of his top priorities is making sure that consumers who submit complaints to us get the response and the relief they deserve. He believes consumer experiences and input need to drive policymaking. This “news” of the CFPB putting a focus on complaints really isn’t anything new. But, it’s important to keep in mind that the focus is only likely to increase as Acting Director Uejio believes consumer complaints are the CFPB’s “lifeblood” and “direct connection to consumers in distress”.
He also delivered a warning shot at companies with a history of a “lax” response, stating those with a poor track record…can expect to be hearing from me.
While you don’t have a lot of control over whether someone complains about you or to you, you can control your response. This, of course, is where your complaint program comes in. If you don’t currently have a written complaint program, we absolutely encourage you to develop one.
If you’ve already done so, make sure it addresses responding and reporting. Now is the time to heed the warning and get your complaint program up to speed!
Ready for some help, that’s what we are here for. Feel free to reach out to us or check out our webinar, “Complaints, Complaint Programs & Compliance”, which is available now OnDemand.
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager.
Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelor’s Degree in Business Administration, and is a graduate of the ABA Compliance School.
Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!