Marcia Tal is the CEO of Tal Solutions, which offers data analytics solutions to banks. She is also the founder of PositivityTech, a predictive analytics platform that drives proactive risk management. Marcia is a former Citigroup executive who founded and led the decision management function globally.
The customer complaints received by the Consumer Financial Protection Bureau are not just a list of grievances. They are a vital source of information for banks and financial services firms, and must be retained.
Banks cannot shrug off the impact of sudden account closures as inevitable collateral damage involved in fighting money laundering.
Financial institutions have often criticized the agency’s publication of consumer complaints. But the information provided can offer executives important insights into looming problems that might not yet have come to light.