CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » User-friendly complaint system needed at BCFP
Press

User-friendly complaint system needed at BCFP

July 16, 2018

FOR IMMEDIATE RELEASE      

CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; lwilliams@cuna.coop

Washington, DC (July 16, 2018) – Credit Union National Association (CUNA) calls for an evaluation of the complaint system at the Bureau of Consumer Financial Protection (BCFP) in its comprehensive white paper. While consumer satisfaction is high among credit union services, CUNA recognizes the need for a user-friendly and efficient process.  

“Even though the number of credit union-related complaints is extremely low, to ensure the complaint intake process is effective, we urge the bureau to take steps so that the number of non-substantive and meritless complaints does not increase,” the white paper reads. “Thus, we urge the bureau to revisit the complaint intake system’s process of filtering out clearly frivolous consumer complaints.” 

CUNA is also requesting the Bureau to reexamine its marketing of the complaint system. Since most credit unions are not regulated by the Bureau, complaints should be directed to NCUA, which has its own processes in place.  

“The bureau’s marketing directs consumers to the bureau’s complaint system, which causes confusion and delays in response when those consumers are then redirected to the NCUA and/or the credit union directly,” the white paper reads. “The bureau should explore how it can revise its marketing to alleviate consumer confusion and reduce unnecessary correspondence among agencies, institutions, and consumers.” 

Additional, comments from CUNA also recommend the Bureau:  

  • Take appropriate steps to verify the legitimacy and accuracy of a consumer’s complaint and/or compliment prior to public disclosure; and  
  • Explore improvements to the current system, which CUNA believes makes it possible that some institutions are effectively unable to respond to consumers’ narrative description of complaints due to privacy restrictions.  

###   

About CUNA      

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.   

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • FOM modernization bill passes House Financial Services Committee

  • CISA issues emergency directive on VMWare vulnerabilities

  • Central bank digital currency creation needs ‘serious, exacting’ consideration

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us