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NCUA sets 60 days for credit unions’ response to complaint

first_imgCredit unions have 60 days to respond to consumer complaints before the National Credit Union Administration’s Consumer Assistance Center (CAC) gets involved, the agency said in a Letter to Credit Unions (15-CU-04) letter last week.The letter was sent to federally insured credit unions to describe recent agency changes intended to streamline and improve its consumer complaint handling process.The complaint process involves two separate phases: attempted resolution by the credit union and CAC investigation.In the initial phase, the CAC will assign a case number and forward the complaint to the credit union’s CEO and to the chair of the credit union’s supervisory committee. The committee will have the opportunity to review and, if appropriate, attempt resolution of the matter within 60 calendar days of the date of the forwarded letter.If the CAC is notified within 60 days that the matter is resolved, the case will be closed. The CAC will begin a formal investigation if no written response is given, the credit union indicates that it cannot resolve the matter or the consumer disputes the resolution. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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