The Consumer Financial Protection Bureau (CFPB) last month filed a lawsuit against Sprint Corp. for illegally billing wireless consumers tens of millions of dollars in unauthorized third-party charges. The Bureau’s complaint alleges that Sprint operated a billing system that allowed third parties to “cram” unauthorized charges on customers’ mobile-phone accounts and ignored complaints about the charges.
Why is that important for title insurance professionals you may ask? The take away for us here is that consumers complained and Sprint ignored the complaints. Section C of the complaint is titled “Failure to Respond to Customer Complaints” and goes on to describe how Sprint received numerous complaints from customers and “did not adequately resolve the disputes”
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, established the handling of consumer complaints as an integral part of the CFPB’s work.
Pillar 7 of ALTA Best Practices clearly states that title agencies should have a documented policy and procedure in place for handling customer’s complaints.
Learntitle in conjunction with Streamline Consulting is working on a series of courses that will address what you will need in the customer complaint section your Policy and Procedure manual to be compliant with the of ALTA Best Practices