Regulations: We're Trying To Keep Score!

Just about the time you thought you were up-to-date on all the regulatory edicts from Congress-here comes another one! A bill has been introduced in the Senate that would mandate the resolution of customer complaints to financial institutions within 20 days of the receipt of the complaint. If it passes-and we expect that it will-it means your institution could be liable for a fine if your customer's complaint is not settled within 20 days.

Copyright © 1990 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 1, No. 4, 4/90