Comment Deadline Set for CFPB RFI on Customer Service at Big Banks
Comments are due by July 21, 2022 on a CFPB Request for Information concerning the quality of customer service at big banks. The notice was published in the Federal Register.
As previously covered, the CFPB solicited customer input about obstacles that may prevent consumers from receiving (i) high levels of customer service and (ii) high-quality interaction with large depository institutions. The CFPB said that it intends to use the feedback to ensure that customers receive individualized quality advice and timely responses, noting that large banks have recently shifted focus towards algorithmic banking which has contributed to an erosion of customer service.
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