Acting CFPB Director Uejio’s Blog Post on Consumer Complaint Responses and Potential Racial Disparities: Is Your Company’s Handling of Complaints Ready for Scrutiny by the “New CFPB”?
We first review recent studies finding racial disparities in connection with consumer complaints and look at the methodology used for those studies and its limitations. We then discuss how the CFPB uses complaint data, the risks faced by companies that are the subject of complaints, and the key components of an effective complaint management system that companies should have in place.