The Consumer Financial Protection Bureau (CFPB) customer complaint database continues to grow at a rapid pace, providing an ever-expanding window into the customer experience of many financial institutions. With over 113,000 consumer complaints as of May 31, 2013, the CFPB recently added two new product areas and two new complaint variables that increase the depth [...]
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For over a year, the Consumer Financial Protection Bureau (CFPB) has been collecting complaint data across five different product areas in financial services including credit cards, mortgages, consumer and student loans, and banking and account servicing. The stated mission of the CFPB is to use this data to educate consumers about their financial providers. With [...]
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Back in early July 2012, the Consumer Financial Protection Bureau (CFPB) made public their complaint database consisting of over 14,000 consumer credit card complaints. Since then, Beyond the Arc has analyzed the data in depth,providing actionable insights into the current credit card market. As of March 28, 2013 the CFPB has expanded the database to [...]
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Billing disputes are the number one reason for credit card customer complaints, and . Not only does this put credit card providers at risk of losing business, it may cost them plenty if the Consumer Financial Protection Bureau (CFPB) detects any regulatory or compliance issues. Just ask Capitol One, Discover, and American Express who received [...]
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With Consumer Financial Protection Bureau (CFPB) as watchdog, credit card issuers face increased risk of punitive action unless they detect regulatory issues early on and take quick action with improvements. Last year the CFPB slapped multi-million dollar fines on Capitol One, Discover, and American Express for deceptive or illegal marketing practices with credit card customers. [...]
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With increasing regulatory challenges in a competitive landscape, today’s financial institutions need to keep a close eye on reducing complaints. The Consumer Financial Protection Bureau (CFPB) made this even tougher last summer when their customer complaint database was made public. Beyond the Arc’s ongoing analysis of the CFPB database has shed light on the top [...]
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Co-author: Gavin James With today’s competitive markets, businesses increasingly need highly tailored approaches to win and retain customers. This introduces a host of challenges: How do you offer the right message, to the right person, at the right time? Or determine which services will best suit specific customers? Or plan in advance which offers deliver [...] |
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