The notion that good, old-fashioned customer service could be just the thing a lender or other financial service provider needs to guard against an unwanted visit from a federal regulator may seem quaint to some. However, evidence suggests it has validity.
Insellerate President and CEO Josh Friend said that reducing the risk of negative attention from the Consumer Financial Protection Bureau (CFPB) can be as simple as maintaining a free-flowing exchange of information with customers, speaking with Dodd Frank Update at the 2017 Mortgage Bankers Association’s Annual Convention and Expo in Denver, Colo.
Read on to find out what he said he has learned from his interactions with customers that could help companies stay off examiners’ radars.