Links in “Complaints”

The CFPB has proposed to permit consumers who submit complaints to also submit a narrative to be included in the publicly available Consumer Complaint Database. Will the narratives provide more fodder for regulators to use when making "reputational risk" arguments? [7/17/14]

Take a look at the CFPB's new report describing the complaints they have received over the past three years. Is your institution guilty of some of these practices? [7/17/14]

The CFPB will hold a hearing regarding consumer complaints on July 17. Due to its track record of announcing related CFPB developments, it should be worth tuning in. [7/11/14]

U.S. Department of Housing and Urban Development receives a complaint from the National Fair Housing Alliance about a real estate company, sends in black testers and white testers. Black testers were steered toward "rough" neighborhoods, while white testers were steered toward "safer" neighborhoods. The company will pay a fine, agree to provide training and establish a non-discrimination policy. [6/25/14]

In hearings in the House, union leader to testify that the CFPB was not responsive when unfair treatment to minority and older employees was first raised in September 2013. The disparities became public in March 2014, which seemed to make a notable difference in how the CFPB responded. [5/22]

The Equal Employment Opportunity Commission reports that the total number of complaints for all categories has dropped, except one: employees reporting employer retaliation. It is important for your credit union employees to feel safe reporting suspicious activity not just from members, but from fellow employees. CUNA Mutual Group provides three safeguards against retaliation. [5/6]

CFPB Blog highlights key points presented in report to Congress on efforts of the Bureau related to Fair Lending. Key efforts including refinement of supervisory review of Fair Lending laws, enforcement actions taken, release of key tools including the HMDA Database and expanding use of the CFPB Complaint system that advocates for consumers impacted by various issues including Fair Lending. [5/1]

CFPB's report on student loan complaints, particularly what happens when a co-signer dies or becomes insolvent, was soft on some key details, but appeared to be geared toward laying the groundwork for future rulemaking. [4/30]

If a co-signer for a student loan is in place, then it was likely the basis for the loan terms that were approved by the bank in the first place. Hence, it stands to reason that the death or bankruptcy of a co-signer may at least warrant consideration of whether to declare a default and accelerate the loan balance. Failure to do so could be considered an unsafe and unsound practice. [4/28]

In an era where consumer complaints are not only invited, but encouraged, banks must get a handle on their complaint management processes. [4/28]