CFPB Ombudsman to Host Industry Check-In on Post Examination Surveys

The online sessions, Dec. 14 and Jan. 13, will feature an overview of this year’s post-examination survey process for supervised entities and next steps as well as other highlights from the ombudsman’s annual report.

12/06/2021 10:00 AM

4 minute read

Accounts receivable management industry stakeholders can join upcoming industry check-ins hosted by the Consumer Financial Protection Bureau’s Ombudsman Office and provide feedback on the bureau’s post-examination survey process, among other topics.

Each session will cover the same information, including details about the post-examination survey program as well as highlighting some of the process topics from the ombudsman’s annual report.

The ombudsman’s office invites trade groups it has connected with during past outreach to join the meetings and encourages groups to invite their member entities as well.

The first session will be held 11-11:45 a.m. EDT, Tuesday, Dec. 14, and the second will be held 2-2:45 p.m. EDT, Thursday, Jan. 14.

Post-Examination Survey Update

The CFPB Ombudsman’s Office began exploring the post-examination survey at the request of the bureau in 2020. The office conducted a beta test of the survey that year and going forward plans to select a group of supervised entities for participation based on location, product lines and the type of entity, according to its 2021 annual report.

The ombudsman reports it will include a “learning mindset” in the post-examination survey to help further understand supervised entities’ experiences.

There will be three process areas for the survey:

  • Supervision materials and resources: Includes topics such as information availability, functionality, and content for review by entity representatives who will engage with any part of the examination.
  • Interpersonal communications: Includes communications between entity representatives and anyone at the CFPB before, during, or after an examination, using any medium or format.
  • End of the examination: Includes topics such as timing, knowledge of outcomes or resolutions, clarity in expectations of closure, and awareness of the appeals process.

As part of these process areas, supervised entities will also have the opportunity to share what worked and did not work as part of the survey and their suggestions for changes moving forward.

After the office’s virtual outreach engagements on the survey in the first quarter of 2022, post-examination surveys will begin in the second quarter.

More information on the post-examination survey can be found on pages 13-15 of the ombudsman’s annual report.

Other Report Highlights

  • Observations about the CFPB’s choice and usage of words in reference to certain stakeholder communities and the Ombudsman Office’s continued work around how the CFPB assists small-business owners.
  • Overview of the Ombudsman Forum, which was hosted in a virtual format as a multi-day lunchtime series.
  • Data and analysis surrounding the individual inquiries received by the office over time.

“This year, we frequently called upon our facilitation tool to assist in the resolution of issues pertaining to cross-bureau processes that may support the CFPB’s connection to the public, such as in our two systemic reviews: processes related to certain communications the CFPB receives from the public and connecting with the CFPB through publicly provided contact points,” CFPB Ombudsman Wendy Kamenshine said in a blog post on the report.

The office received 1,649 inquiries in 2021, the highest number in its 10-year history. The inquiries touched on the consumer complaint process, including process critiques, questions, technical concerns, customer service, or information about the consumer complaint database. As a result, the ombudsman provided the CFPB with a summary of process critiques and questions it has received about the complaint database.

Read the ombudsman’s annual report here.

Industry Check-In Registration

To join the Dec. 14 call, RSVP to [email protected] and indicate the name of your organization and who else may be joining you by Friday, Dec. 10. The ombudsman’s office will send the call information to those who registered on Monday, Dec. 13. A deadline to sign up for the January call will be released next month; however, interested parties may RSVP to that event now as well.

The role of the Ombudsman’s Office is to provide independent, impartial and confidential resources for consumers, banks and nonbanks in resolving issues with the bureau. In that role, it also makes recommendations to the bureau.

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