Consumer finance agency extends deadline for comments on how big bank are working for consumers

The Consumer Financial Protection Bureau is launching an initiative to improve the customer service experience at big banks.

The bureau wants to hear from consumers and businesses about their experiences dealing with customer service at their bank or credit union – both the good and the bad.

The agency is extending the deadline to comment at Request for Information about customer service at financial institutions until Aug. 22.

The bureau is interested in hearing examples about the ability of consumers and businesses to access information from their bank or credit union when they need it, including: 

• Experiences with “chat-bots” or automated responses.
• Long wait times to speak with a real person.
• Differences in the quality of service online vs. in person.
• Difficulties accessing different types of information from a bank or credit union.
• Any fees associated with customer service or requests for information.

“People should not have to go through a gauntlet to get answers about their bank account,” the bureau said in a statement. “By sharing stories and experiences with the CFPB, you’ll help inform future policy guidance and other initiatives about consumers’ right to access critical information about their accounts.” 

You can submit comments through Regulations.gov until August 22.