Are you prepared for the following changes in CFPB’s complaint management?

•The provision of regular accuracy reports from the nationwide credit reporting companies to highlight key risk areas, including disputes
•Monitoring and examining data furnishers with a disproportionate number of disputes
•Promoting proactive complaint database participation by companies outside of the CFPB’s jurisdiction
•Proposed new policy to provide consumers with the option to include unstructured narratives when submitting complaints

Join CDIA for a live teleseminar event on February 12 at 2 p.m. ET featuring Ballard Spahr’s panel of experts including John L. Culhane, Jr., Stefanie H. Jackman, and Heather S. Klein to discuss the evolving complaint management database. CDIA’s Vice President of Public Affairs, Norm Magnuson, moderates. Event includes a live Q&A session.

These changes to the complaint management process create an unprecedented risk for financial institutions of all size to be singled out for enforcement action. Per the CFPB’s Fall 2014 Semi-Annual Report, “since launching Consumer Response operations on July 21, 2011 through September 30, 2014, the CFPB has handled approximately 460,700 consumer complaints” all of which may be shared with the FTC and other federal, state, and local government agencies.

As the CFPB aggressively expands its complaint-handling capacity to include virtually every aspect of the financial services industry (including credit reporting, debt collection, mortgages, auto and student loans and many others), financial institutions run increased risk of litigation. The CFPB will be looking at proportionate numbers of complaints, meaning smaller organizations will not be immune to scrutiny and need to know how to address these issues before they show up on the CFPB’s radar.

Register today and learn how to manage potential consumer complaints by refining your risk-assessment and compliance management process.

This discussion is a must for any financial institution at any stage or level of involvement in complaint management.

Live Teleseminar: February 12, 2 p.m. ET
Rebroadcast: March 9, 2 p.m. ET
Duration: 75 min.
Cost**: $145 per phone line - CDIA Members
$215 per phone line - Non-Members
$0 per phone line - CDIA's Annual Teleseminar Package Subscribers

**The price includes:
•A MP3 audio re-play transcript file 
•Unlimited enrollment per call-in site