Cultivating a Culture that Values Complaints

Date Presented: January 29, 2025

Presenter: Kylee Durbin, CRCM, Manager, Forvis Mazars, LLP

A two-hour webinar providing financial institutions with the framework to create a culture that values consumer complaints.

The CFPB and other regulatory bodies value consumer complaints and actively solicit feedback.  Regulators rely on the information gathered to identify potential regulatory violations, unfair, deceptive, and abusive acts or practices, and weaknesses in your operations as part of the examination process.

A strong compliance management program is essential to the success of a financial institution. You cannot have a compliance management program without an effective consumer complaint response process. Encouraging employees to solicit and record customer feedback can support you with early identification of regulatory violations and correcting problems, while providing you with insights on how to improve products, services, and internal operations.

Here is what you will Learn:

Complaints

• Define a complaint
• Determine how to identify a complaint
• Create a complaint focused culture

Complaint Management Program

• Development of policy, procedures, and tracking
• Recognition of regulatory compliance requirements
• Demonstration of risk management
• Identification of root cause and implementation of effective remediation
• Escalation and ongoing reporting

Regulation/Guidance

• Examples of consumer complaints
• Regulatory trends