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While no single rule dictates how credit unions must handle consumer complaints, regulators have provided plenty of guidance around best practices. And, if recent exams are any indication, expectations for adhering to those recommendations are crystalizing in the minds of examiners, stimulating many more questions during exams. This may be due to an increase in class action lawsuits, the Inspector General’s recent concerns about complaint data or the general chaos of COVID-19 and its various economic and workplace stressors.

Regardless of the root cause, increased regulator attention to complaints management is something to which all credit unions should be paying close attention.

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