Press Release
PerformLine Releases Annual Complaint Risk Signal Report: An Analysis of Consumer Complaints Submitted to the CFPB
October 20, 2023
PerformLine’s 2023 Complaint Risk Signal Report provides insights for financial institutions on potential compliance risks based on analyses of submitted customer complaints to the Consumer Financial Protection Bureau.
(MORRISTOWN, NJ)—PerformLine, the industry leader in omni-channel marketing compliance technology, today announced the release of the 8th edition of its Complaint Risk Signal Report. The report provides an analysis of consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) to surface observations and insights that help financial institutions proactively shape their compliance programs.
According to the CFPB, “Consumers’ complaints and organizations’ responses provide the Bureau with important information about the types of challenges consumers are experiencing and the effectiveness of an organization’s compliance management system.”
As regulatory scrutiny increases amidst turbulent market conditions, this report continues to serve as a valuable tool by highlighting important trends and insights around consumer complaints and enforcement actions.
Detailed in this:
- Consumer complaints and trends by product
- The impact of regulators’ focus on protecting vulnerable populations, including military servicemembers and older consumers
- Enforcement trends by year, consumer relief by year, and under each Director
- How to avoid consumer complaints with a strong marketing compliance program
“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 Paul Wilmore, COO of PerformLine. “Armed with the knowledge from this report, paired 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 2023 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.