Case Study
Building a Custom Process to Bring Customer Refunds In - House for a National Bank
The Opportunity. During the 2012 audit of a major credit card institution, a set of unauthorized charges for payment protection products was uncovered. The Consumer Financial Protection Board (CFPB) decreed that customers should receive a full refund of lifetime product fees and any other incurred charges. Refunding these customers would ensure compliance and strengthen the credibility of the bank’s cross-sell program. The Obstacles The