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Payday lenders, recognizing that a $300 payment request from a customer's bank account may not be fulfilled, may submit three $100 requests, hoping that at least one will be fulfilled. But those other two payment requests can each result in overdraft fees. A recent CFPB study found that about half of the accounts it examined had a loan payment request fail, incurring an average of $185 in bank fees over the duration of the study. [4/20/16]
Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.
What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video