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Senegal: Financial inclusion gaining ground

Senegal: Financial inclusion gaining ground
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What Do Acting CFPB Director Uejio's Comments on Consumer Complaint Responses and Potential Racial Disparities Mean for Regulated Financial Institutions? | Ballard Spahr LLP

As we
reported, Acting CFPB Director Dave Uejio recently shared a
blog post in which he directed the Bureau’s Consumer Response Unit to prepare and publish a report highlighting companies with a poor track record of responding to consumer complaints. He stated that “senior leadership of these companies can expect to hear from me.” Acting Director Uejio also expressed concern about “disparities in some companies’ responses to Black, Brown, and Indigenous communities” found by consumer advocates, but he did not name those consumer advocates or the studies that may have prompted his comments.
First, with regard to Acting Director Uejio’s comments about responsiveness to consumer complaints, the CFPB’s own website currently indicates that 97% of all companies provide timely responses to consumer complaints. Based on that statistic, U.S. companies regulated by the CFPB appear to take consumer issues reported to the Bureau seriously, and if any are slow to ....

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