The Conference of State Bank Supervisors (CSBS) recently announced that state financial regulators are now able to enter and process customer complaints electronically within the State Examination System (SES) technology platform. The new functionality will also make available summaries of all complaints to any state regulator using the complaints system. Companies that are licensed or registered through the Nationwide Multistate Licensing System (NMLS) will receive the SES Consumer Complaints enrollment information when their state regulator is ready to utilize the new system. Once enrolled, companies will work with their regulator inside the system to resolve consumer complaints.
In addition, there are future plans for the SES platform to include a consumer-facing portal where consumers of any state or territory can file a complaint about any financial institution under state oversight. The system will then route the complaint to the appropriate state agency for resolution.
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