Complaining is an age-old habit of customers, but too many complaints about lending can lead to oversight from regulators.
As such, there are some key ways to mitigate customer complaints — such as introducing some dedicated internal policies that show tangible examples of what a lender is doing to address complaints, for instance. To address complaints, lenders can start with a committee that looks at macro-level issues, followed by initiatives taken to address the underlying issue that leads to complaints.
