Complaint

Banks are required to included all written comments received from the public and the response to those comments in the CRA Public File. Could someone please ellaborate on the types of comments? Is it talking about complaints that we receive such as Sam was upset because he did not receive an AAN within 30 days so he reported it to the OCC. The OCC notifies the bank and we respond. How do I determine what to place in this file?

No, it is not the ones about a service or minor gripe such as that. It addresses credit needs. Claims of discrimination, poor lending practices, and such would be there.

§228.43 Content and availability of public file.
(1) All written comments received from the public for the current year and each of the prior two calendar years that specifically relate to the bank’s performance in helping to meet community credit needs, and any response to the comments by the bank, if neither the comments nor the responses contain statements that reflect adversely on the good name or reputation of any persons other than the bank or publication of which would violate specific provisions of law;

Doesn't it cause a privacy violation if I put "Sam's letter" in the CRA file and other people can see that Sam is a customer?

It depends on what Sam says in his/her comments, but there need not be any inference that he/she is a customer. Anyone can add comments to your public file, customer or not.

Letters that attack employees, by name, need not be added, however. You may be able to block out some of the text or just not include it altogether. Save the original for regulatory review though.

In reference to

No, it is not the ones about a service or minor gripe such as that.

Sould there be a seperate file for those or can they be destroyed?

There is no retention requirement that I am aware of. I would retain it in a central file if it went through your regulator, the BBB or some similar entity. I would also consider keeping it for some period to determine if you see a trend.

The time frames are up to you with the caveat that those through my regulator, I would hold exam to exam. They have a list of complaints filed through them and may ask about the disposition.

During a recent exam the OTS suggested that I add a heading for "Complaints" to my quarterly Audit Committee report. I maintain a file and track resolution of general customer complaints.

Absolutely. Nancy Derr Castiglione wrote an article some years back on reporting to the audit committee/board. That article changed my reports.

Complaints are certainly added into it, some very specifically and some may be reported as a group if there is a common issue.

This is a bit off of the retention topic, but reporting these can be very important as it could be a first step in litigation and is certainly a measure of customer satisfaction.

A difficult part of this is what is reported? Written complaints are pretty easy. But those originating by telephone, through a CSR or call center are more difficult. Without creating a very cumbersome process (depending on your infrastructure) we catch the written and the telephonic/in-person complaints that rise to a certain level and demand managements time. Otherwise they seem to be resolved and would be discussed in manager's meetings.

I am searching for a regulation(s) that requires us to have a Customer Feedback or Complaint policy. I understand the requirements under CRA §228.43 Content and Availability of public file, but is there any other regulation that requires such a policy?

Thanks for your input......

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I am searching for a regulation(s) that requires us to have a Customer Feedback or Complaint policy. I understand the requirements under CRA §228.43 Content and Availability of public file, but is there any other regulation that requires such a policy?

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Sarbanes-Oxley includes some language requiring this kind of policy, although I don't think it's going to cover everything, mostly just accounting type issues.