Understanding And Managing The CFPB Complaint Process

Webinar: ID# 1023250
Recorded CD or On-Demand
About This Course:
Though the Consumer Financial Protection Bureau (CFPB) may not be the primary regulator for your financial institution, it’s critical to understand how the CFPB complaint process has changed regulatory expectations, and what your bank or credit union should be doing to proactively manage complaints.

Covered Topics:

  • Learn how the CFPB uses complaint information to guide investigations, develop enforcement actions, and require reimbursement to consumers.
  • Learn the regulatory “expectations” for complaints that include

    • Accepting complaints – what is a “complaint”, how are they recorded and how are they resolved?
    • What’s a “reasonable” timeframe to respond to a complaint?
    • What type of complaints required escalation and immediate attention?
    • What types of complaints indicate potential UDAAP (unfair, deceptive, or abusive acts or practices)?
    • What type of complaints may indicate potential “consumer harm”?
    • What type of complaints should result in changes to products, services, or practices?
    • What steps should be taken when the complaint involves a third party vendor?

  • What do recent enforcement actions tell the financial service industry about the importance of complaints?
  • How is social media used by regulators in the complaint process?
  • What do the employees in your financial institution need to know about handling complaints? How should complaints be tracked and evaluated? What type of training should be completed for handling complaints?
Bonus Tools

Besides great training, attendees also receive the following:
  • Complaint Policy, Procedures and tracking form in WORD that can be modified for your financial institution
  • Helpful UDAAP compliance resources and regulatory guidance, including FDIC Abusive Practices –Third Party Procedures checklist
  • UDAAP Risk Assessment checklist
  • Checklist for “Evaluating Consumer Harm”
  • Regulatory resources
Who Should Attend?

Senior Management, Compliance Officers, Risk Managers, Branch Managers, Call Center Managers, Loan & Deposit Operation Managers, Marketing Staff, and Product Development Specialists

The Presenter:

Susan Costonis is a compliance consultant and trainer. She frequently provides consulting services to financial institutions regarding fair lending and other compliance management issues. Her 37 year career in banking and training began with 20 years at First National Bank, an affiliate of Wells Fargo Bank, in Fort Collins, CO. Susan has been a bank compliance consultant or compliance officer in Louisiana since 1998.

During her career, Susan has successfully managed compliance programs and exams for institutions supervised by the OCC, FDIC, and Federal Reserve. She is a Certified Regulatory Compliance Manager and completed the ABA Graduate Compliance School and the Graduate Banking School of the University of Colorado. Susan regularly presents seminars to financial associations.

Understanding And Managing The CFPB Complaint Process
or via CD or On-Demand
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