Where Do Complaints Come From?

Your examiners consider complaint data and your management of that data to be a critical component of your overall Compliance Management System (CMS). Since there is no regulatory definition as to what a complaint is, institutions are somewhat left to define this for themselves. Being too narrow or too broad can cause issues. One thing to consider when developing your complaint program is where complaints can come from. We’ve seen some institutions that say they only consider complaints from customers yet doing so leaves a ton of potentially valuable information from being evaluated which could help you avoid a future problem. It’s important to remember, complaints can come from a variety of sources, here are just a few:

  • Consumers
  • Non-Consumers
  • Customers
  • Non-Customers
  • State and/or Federal Regulatory Agencies
  • Representatives
  • Anonymous
  • Financial Institution Vendors

Jerod explains more in the video.


Consulting Resources!

Video Highlights:

  • Complaints can come a variety of sources.
  • Building an awareness of complaints encourages team members to recognize them.
  • Complaint information is valuable as it can uncover problems but also opportunities.

Published
2023/11/30

 
David Dickinson

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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