CFPB Guidance on Handling Consumer Complaints and Inquiries: Collecting, Investigating and Responding

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CFPB Guidance on Handling Consumer Complaints and Inquiries: Collecting, Investigating and Responding
Thursday, May 2, 2013

12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

The Consumer Financial Protection Bureau (CFPB) is making consumer complaints a major aspect of the regulatory environment. The Dodd-Frank Act requires the CFPB to collect, investigate and respond to complaints as part of its work in protecting consumers. In addition to the complaint system on their website, consumer complaint response is now a major component in the analysis of a financial institution’s compliance management system. Response to consumer complaints is now considered to be one of the four interdependent control components of an effective compliance-management system, in addition to the compliance program, compliance audit, and board and management oversight.

Consumer complaints may provide indications of potential regulatory violations, including unfair, deceptive, or abusive acts or practices (UDAAPs). Complaints have been an essential information source for regulator examinations, enforcement, and rule-making. This increased focus on responding to consumer complaints means your bank should develop policies and procedures to ensure that appropriate personnel are informed when complaints are received and that complaints are clearly identified and categorized by area of impact. How complaints are handled is a key element in evaluating your compliance-management system. A well-planned, implemented, and maintained compliance-management system will prevent or reduce regulatory violations; protect consumers from noncompliance and associated harms; and help align business strategies with outcomes.


  • The complaint management system
  • Complaint management risk assessment
  • Handling and response
  • Monitoring and testing
  • Reporting

This informative session is designed for management, frontline, and compliance personnel.

Continuing Education: Attendance verification for CE credits upon request

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Michelle Graber, CRCM
Young & Associates, Inc.