Complaints – Getting the benefit, Losing the Grief

Recorded on October 20, 2016   |   With Andy Zavoina

Complaints – Getting the benefit, Losing the Grief

With Andy Zavoina
  • 1 Video
  • 2.0 hrs
Course description

ICB Credit: 2.5 CRCM

Complaint management is a vital part of a compliance management system. Complaints and inquiries from your customers are not only reflections on your products and services, but also indicators of who may leave you as a customer tomorrow. This issue is important enough for each regulatory agency to have a department to handle them, and for the Dodd-Frank Act to impose requirements addressing complaints and your responses to them.

Your institution should have a formal and centralized system to both investigate and respond to complaints. Your examiner will ask what the outcome of your complaints investigations were, and they keep their own list on complaints received to check against it. One lender had to pay a consumer $90,300 over a $17,000 debt because it failed to follow FCRA investigation requirements. What the bank may see as minor, may be major if mishandled.

It is easier to retain customers today than replace them tomorrow. Do you have a method to verify that claims under Regs E and Z are investigated and timely paid and that inquiries, information requests and claims of error under RESPA are timely processed? Are there complaints that a lender isn't treating all customers equally? Have you noticed an increase in sales of a new add-on service your bank offers through a third party, and an increase in cancellations as well? What reactions do you get when you notify customers of an increased fee? These reactions are a barometer of customer satisfaction. The way you handle complaints can have serious consequences not just for customer retention, but also when you are examined for CRA, fair lending and compliance.
Many laws and regulations impacting both loans and operations actually mandate timeframes for handling complaints, while others leave the timing up to you. Proper handling of complaints is something you cannot afford to ignore today’s banking world.

In this webinar, we'll discuss:

  • Who should investigate and respond to complaints
  • How and why to establish a central tracking system
  • What complaints need to be responded to under regulatory timelines
  • What differences exist between complaints from a customer, from the Better Business Bureau and from your regulator
  • What common complaints the regulators are seeing, what they tell your customer, and how should you respond
  • What complaints can be handled on the spot, and which may need to be escalated
  • A formula for providing written responses to your customer
  • Best practices in the industry for complaint and inquiry procedures
  • What the Dodd-Frank Act expects in handling complaints

Who Should Attend:
Those who receive complaints and inquiries, tellers, new accounts, lenders, branch managers, receptionists, call centers and those who resolve and respond to complaints.

Course Curriculum

Complaints – Getting the benefit, Losing the Grief
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Andy Zavoina
Andy Zavoina
Executive Vice President, Glia Group

Mr. Andy Zavoina, CRCM, is an Executive Vice President with the Glia Group, Inc., best known for its involvement with He joined Glia and BOL in 2003.

Mr. Zavoina has been in finance and banking for 35 years. Over 20 years were with a two-bank holding company that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He has done loan workouts, has been a consumer, commercial and real estate lender and managed those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.

Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.

He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written articles and lectured on compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations across the U.S. and teaches basic compliance and compliance management.