PerformLine Releases 6th Annual Consumer Complaint Risk Signal Report
October 14, 2021
Report Provides Detailed Analysis of Complaints Submitted to the Consumer Financial Protection Bureau to Help Financial Institutions Identify Risk
MORRISTOWN, NEW JERSEY, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- PerformLine, the leading provider of compliance technology solutions, has issued the 6th edition of its Consumer Complaint Risk Signal Report, an analysis of consumer complaint data from the Consumer Financial Protection Bureau (CFPB). This report presents compliance risk signals for financial institutions that could help proactively identify and mitigate risk in consumer interactions.
This annual report unveils observations about the nature of recent complaints and how regulators use them to help guide regulatory actions. In addition, this year’s report looks at data on specific topics such as mortgages & fair lending, credit cards, the buy now, pay later (BNPL) industry, and how COVID-19 impacted consumers and financial institutions. This edition is especially timely as the CFPB has a newly confirmed director, Rohit Chopra, who is expected to utilize the Bureau’s full scope of enforcement to crack down on consumer protection violations, making the findings in this report a must-read.
Detailed in this report:
- An Enforcement Risk Assessment that shows how complaints impact your organization's risk of enforcement, and at what cost
- Compliance and risk trends by industry, including mortgage, buy now, pay later (BNPL), and credit card
- Insight into COVID-19 complaints and the compliance challenges financial institutions are facing
- The impact of regulators' focus on protecting vulnerable populations, including military servicemembers and older Americans
“We believe in empowering compliance leaders with the most up-to-date knowledge and technology to help their companies grow,'' said Alex Baydin, CEO and founder of PerformLine. “When viewed at a macro-level, we believe consumer complaints provide significant insights that financial institutions and their compliance leaders can use to guide their marketing compliance programs by understanding where risk is happening in the marketplace and proactively mitigating it.”
To download a copy of PerformLine’s Fall 2021 Complaint Risk Signal Report, click here.
PerformLine is a leading provider of compliance technology that empowers leaders with one platform to mitigate regulatory risk across major sales and marketing channels, including the web, calls, messages, emails, documents, and social media. PerformLine automates the path to discover, monitor, and mitigate, and report on compliance risks and ensure brand safety. The PerformLine SaaS platform features full workflow capabilities, real-time analytics, remediation, monitoring, and archiving, while providing clients with significant time and cost savings by automating compliance activities across channels and departments. Learn more at https://www.performline.com