I am working on our bank's annual UDAAP training and I always include a section devoted to the importance of tracking customer's complaints and the bank's resolution. Part of my training is including some real world examples where complaints have helped identify an issue and have it corrected before it became a major issued for an institution. Well for this years training I want to get a couple of new examples for my slides.

So here's is my request. Do any of you guys have some real stories about the value of tracking customer complaints either at your own institutions or maybe you know of some stories from other banks? Or maybe you can refer me to a consent order where a bank was fined for something that could have been prevented if they would have tracked their customer complaints?

Doesn't have to be specific details. I am just looking for some ideas for my examples.

Hopefully this makes sense.

Here is a big one:

https://www.occ.gov/publications/publica...arned-41917.pdf

Read page 5.

Thanks Randy. Not sure why the Wells Fargo ordeal didn't pop into my mind.

Okay I've got one good one to work with. If anyone else has some more I'm all ears.

CFPB complaint data base

I'll give you one that occured to me as a customer.

A LARGE Credit Union issued me a debit card a few years ago. At that time, they had access to the MoneyPass system, meaning ATM transactions at those affiliated ATMs were free from charge.

At some point, they removed MoneyPass as a network, but never sent me a new card with that removed. They may have sent me a change in terms notice... I don't remember.

I still have that debit card and was charged a fee at a MoneyPass ATM. I called in to ask about it and the customer service person didn't know why my card had MoneyPass on it, but she waived the fee for me. What if there are thousands of us out there in the same boat.... eating these fees that we don't think we have to pay. If they tracked this as a complaint, they would probably see a trend.

Thanks for your help everyone.

I believe I have come up with a few good ideas for my training.

Bill Gates once said that with complaints, people are doing research for the company on problems. It could be a difference in perception, or a legitimate issue.

Bad part about not listening to a complaint, or taking it seriously, is that a customer is usually willing to escalate it to the next level which is unfortunately in banking, a regulator.