Links in “Complaints”
- Complaint Management: Meeting Rising Regulator Expectations
Regulators increasingly expect to see a consumer complaint management response program as a part of an effective compliance management system; here are some pointers. [9/11]
- ABCs of CFPB’s CMS
Although the CFPB states that it doesn't require any specific structure for an effective compliance management system, it puts forth what it sees as the four independent control components of an effective CMS. [8/26]
- Stearns Allegations Provide TILA Training Reminder
Complaint from former chief appraiser alleges company recruited mortgage brokers and loan officers by telling them they could provide their own personal list of appraisers to be included on the approved panel for the appraisal process, a violation of Truth in Lending Act rules. [8/20]
- Managing Customer Complaint Data
Consolidating customer feedback from various channels such as social media or call center transcripts into one common complaint database allows the data to be accessed by operations, customer service and compliance teams, breaking down info silos that can occur. [8/8]
- CFPB Files Complaint Against Lender for Steering Borrowers to High Cost Loans
CFPB alleges Utah mortgage bank violated the Federal Reserve's loan officer compensation rule, which bans compensation based on a loan's terms such as interest rates; bank vigorously denies allegations. [7/24]
- CFPB Storms the Castle
Complaint by CFPB against Castle & Cooke filed for illegal bonuses tied to higher-priced mortgages. Strong guidance document to FIs to review compensation practices tied to interest rates charged (aka Steering). [7/24]
- Tracking Member Complaints in a Viral Media Era
When even a single complaint can be the catalyst for an examination, tracking and analyzing complaints, whether formal through NCUA or an angry tweet or Facebook message, can help manage the CU's reputation and compliance risks. [7/23]
- CFPB Expands Complaint Database to Include Debt Collection
Adding debt collection to its already massive database; also offers consumers five action letters to use in corresponding with collectors. [7/10]
- CFPB Expands & Promotes Dialing for Complaints Campaign
Partnership with City of Boston is likely the first of many to come. How strong is your complaint response and resolution system? [6/19]
- Complaint Data: How’s Your State Doing?
Complaint data now searchable by state; top 5 states for mortgage complaints are New Hampshire, Maryland, the District of Columbia, Georgia, and Florida. [6/4]
