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Press Release

New Report from PerformLine Identifies Compliance Risk Signals from Consumer Complaints Submitted to the CFPB

October 13, 2022

The Complaint Risk Signal Report analyses consumer complaints submitted to the Consumer Financial Protection Bureau to identify areas of compliance risk

(MORRISTOWN, NJ)—PerformLine, the leading provider of compliance technology solutions, today announced its 7th edition of the annual Complaint Risk Signal Report that analyzes complaints submitted to the Consumer Financial Protection Bureau (CFPB) and the compliance risk signals they present.

As the Bureau’s regulatory scrutiny continues to increase under Director Rohit Chopra, this report serves as a valuable tool for banks, thrifts, and credit unions with assets over $10 billion, as well as their affiliates who the Bureau has the supervisory authority over, by highlighting significant trends and insights that organizations can use to mitigate compliance risk.

By being aware of the types of challenges that consumers face in the marketplace, organizations can use this information to shape their compliance programs to focus on the most pressing issues presenting risk to their business.

In its most robust edition to date, this report details the nature of recent complaints around a variety of topics and industries, including:

  • Compliance and risk trends by industry, including mortgage, buy now, pay later (BNPL), bank accounts, and more
  • Insight into COVID-19 complaints and the compliance challenges financial institutions are facing in a post-pandemic world
  • The impact of regulators’ focus on protecting vulnerable populations, including military servicemembers and older consumers
  • An Enforcement Risk Assessment that shows how complaints impact your organization’s risk of enforcement, and at what cost

“At PerformLine, our mission has always been to empower compliance leaders with the technology, tools, and knowledge they need to ensure their organization and partners provide transparent and accurate information to consumers across any channel,” said Alex Baydin, PerformLine’s CEO and Founder. “Armed with the knowledge from this report and with PerformLine’s omni-channel compliance solution, companies can proactively monitor marketing communications to better protect consumers and avoid the complaints that lead to investigations and enforcement actions by the CFPB.”

To download a copy of PerformLine’s 2022 Complaint Risk Signal Report, click here.

About PerformLine

PerformLine is the leading platform for omni-channel compliance oversight. Its cloud-based platform is mission-critical for companies to discover, monitor, and act on compliance risk in their marketing, sales, and partner channels. Through sophisticated technology, the PerformLine platform provides end-to-end marketing compliance automation, from the review of material before publication to continuous live monitoring across consumer-facing channels, including the web, email, social media, calls, and messages. PerformLine is trusted by consumer finance brands and global organizations to make efficient marketing compliance their competitive advantage.

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