10 Oct CFPB Launches its Online Consumer Complaint Website
Recently the CFPB (Consumer Financial Protection Bureau) launched its online consumer complaint website for credit card customers – we can be sure that similar tools will be made available for consumers to easily document their dissatisfaction with collection efforts across most loan products. We can also expect the CFPB to be eager to publish their relative ranking reports showing the companies that generate the most (and least) consumer complaints.
While the CFPB’s mandate currently encompasses only large banks, there will no doubt be an expectation of general compliance across the industry. Collections is a magnet for customer complaints. At no other point in the consumer credit cycle is the contact with the customer more personal or important.
CBS has an established track record for helping clients make the improvement ‘triple play’: collect more money; with fewer calls and drastic reduction in complaints. Implementing the Management Operating System a consistent, documented and successful process is a key step to helping meet industry regulatory demands.
For more information, contact:
Mr. Jeremy Roberts
Vice President for Business Development
+1 (801) 448 7148 (Salt Lake City)
+1 (801) 520 1825 (Cell)
+1 (909) 498 5174 (Fax)