How Regulatory Agencies View Complaints

Regulatory agencies are in the business of protecting the rights of your customers and preventing harm. Therefore, they put a lot of value on complaints, whether they are reported to the Agencies directly or those that you receive. Complaints provide information and information helps shine a light on things that may need to be addressed. The Federal Reserve’s Federal Consumer Compliance Outlook (Second Issue 2024), looked at complaint programs as a whole and outlined the benefits of having a formal complaint program. It outlined five common elements of formal complaint management programs. These include:

1. Defining a Complaint
2. Collecting and Tracking Complaints
3. Classifying and Responding to Complaints
4. Addressing Complaints and Root Cause Analysis
5. Analyzing Aggregated Complaint Data

Jerod explains more in the video.

Published
2025/12/17