May 12

Recent Compliance Issues: 4/15/16 – 4/28/16


On Tuesday April 26, 2016, the Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint snapshot, highlighting consumer complaints related to mortgages. The report shows that consumers continue to encounter servicing problems when they are unable to make payments. This month’s snapshot also highlights trends seen in complaints coming from California. As of April 1, 2016, the Bureau has handled approximately 859,900 complaints across all product lines. These monthly CFPB releases should serve as a reminder to ensure that your consumer complaint handling procedures are ready for regulatory scrutiny. 
Let our former, Federal Compliance Examiners help you review your consumer complaint administration program.  We can help you tailor your program to identify the root cause of complaints and capture any patterns or trends in complaint submissions that could signal more widespread problems.