Don’t Miss the Boat with Consumer Complaints!
Dave and Jerod recently taught at the ABA Compliance School in June. Between the two of them, they still managed to sit in on as many breakout sessions as they could. One observation they both made when comparing notes, was that you don’t want to miss the boat when it comes to consumer complaints. Complaints were brought up in some way, shape or form in almost every session.
A few takeaways:
- Complaints are a compliance risk indicator.
If you have a lot of complaints, chances are you have compliance issues. The two can, and often do, go hand in hand. If you don’t have any or very few complaints, that could indicate an insufficient complaint program.
- Don’t overlook your third-party vendors.
Keep in mind that your customers might not complain directly to you about their products and/or services. They might start with your third-party vendors. It’s very important that you know what complaints they have as it could point to things you need to address.
If you want to learn more, be sure to check out our one-hour webinar, “All About Complaints & Complaint Programs”. We’ll get you on the right track!
Published
2019/07/18
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Amy Kudlacek
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!