Volume 25 - Number 2
January 20, 2014
Handling Consumer Confusion Requires Sophisticated Triage
The CFPBs emphasis on consumer complaints has injected a whole new compliance dynamic for lenders of all types and sizes. And in order to successfully manage what is likely the most problematic complaint confusion lenders are going to need a more sophisticated triage process. In an environment in which regulators cite customer confusion as a primary rationale for actions on everything from advertising and sales practices to rewards programs to arbitration clauses, establishing a high threshold for a matter to qualify as a...
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