Financial Firms Want More Time to Review US Consumer Complaint Proposal

July 25, 2014 Off By administrator

Financial Firms Want More Time to Review US Consumer Complaint Proposal
Article from Insurance Journal:

The federal government is proposing a new policy that would allow consumers to publicly post their complaints about consumer financial products and services.

Under the proposal by the Consumer Financial Protection Bureau (CFPB), consumers would have the option to share their account of what happened in the CFPB’s public Consumer Complaint Database.

CFPB has opened a 30-day period for comments on the proposal.

The CFPB says that publishing consumer stories of what happened in their dealings with a financial services firm or product would provide important context to the complaint, help the public to detect specific trends, aid consumer decision-making, and drive improved consumer service.

“The consumer experience shared in the narrative is the heart and soul of the complaint,” said CFPB Director Richard Cordray. “By publicly voicing their complaint, consumers can stand up for themselves and others who have experienced the same problem. There is power in their stories, and that power can be put in service to strengthen the foundation for consumers, responsible providers, and our economy as a whole.”

Financial Industry

The financial services industry doesn’t quite see it that way. The Financial Services Roundtable, the American Bankers Association, the Consumer Bankers Association, The Clearing House and the…………………continues on Insurance Journal
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8 Tips on What to Do With Negative Social Media Consumer Review
Article from Business 2 Community:

Not everyone will not leave a positive comment about your business, according to this social media for business tips on customer review on why you should pay attention to them.

What should you do when you see a negative social media consumer review?

Here are 8 Tips on what to do:

1. Be present. What’s the point of creating social media accounts if you are not there regularly? The image below is an example of a company’s slow response to a review, and inquiry.

Here is an example of a review that a service provider failed to respond to on time.

2. Be there before it happens! You may have not integrated social media in your business marketing strategy yet; and therefore, have NEVER created a Facebook Page for your business. You think you don’t have a Facebook page for your business. (You think!). Ho…………………continues on Business 2 Community
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