The Consumer Financial Protection Bureau recently announced that it has expanded its public Customer Complaint Database beyond complaints about credit cards. The database will now also include complaints related to mortgages, bank deposit products and services, student loans, and other consumer loans (a category that includes complaints about auto loans and leases). With the additional categories, the database now contains more than 90,000 complaints, all of which may be shared with the FTC and other federal, state, and local government agencies.

The CFPB's Customer Complaint Database raises a number of concerns for banks and other financial service providers. In this webinar, we will review the database and discuss ways companies can mitigate associated risks while ensuring good customer experiences and positive outcomes.

Topics

  • How the CFPB uses complaint data to inform its supervisory and enforcement decisions
  • How to integrate complaints received through the database into an effective complaint management process
  • How to address the lack of verification of whether the complainants are actual customers
  • The litigation risks and how to be prepared for them
  • The impacts on large and small institutions
  • The limitations of the information contained in the database
  • The security and privacy risks associated with the CFPB's data management and storage

Presenters

Christopher J. Willis
Consumer Financial Services Group

Trevor R. Salter
Consumer Financial Services Group

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa M. Prickril at prickrill@ballardspahr.com.

Program Contact

Lisa M. Prickril
215.864.8252
prickrill@ballardspahr.com