Regulatory Compliance Management Made Easy
United States Regulators: CFPB
Born out of the Dodd Frank Act as part of new efforts to re-regulate financial services markets in the US, The Consumer Financial Protection Bureau (CFPB) is a regulatory agency charged with overseeing financial products and services that are offered to US consumers. One area of its jurisdiction involves examining the complaint resolution processes of financial services businesses, as well as acting as complaints ombudsman, ensuring consistency, fairness and best practice when it comes to complaint management.
Financial institutions must comply with the CFPB regulations, meaning that they need to put in place the right tools and processes to record, categorize and actively address every complaint that is received.
Respond can help fulfill your CFPB requirements
Respond, our complaints management solution, helps your business to fulfil its CFPB requirements, while empowering your entire team to deliver an outstanding customer experience.
CFPB Compliance Features
- Single, unified complaint management system spanning the entire complaint life cycle
- Multi-channel complaint capture
- Real-time quality assurance
- Comprehensive complaint monitoring, tracking, and reporting
- Increased visibility and transparency into customer complaints and feedback for in-depth, actionable insights
- Improved speed to resolution
- Root cause analysis, helping to identify and resolve systemic issues