CRS

Definitionss

100

CRS stands for .... 

What is Consumer Response System

200

BBB stands for ....

What is Better Business Bureau?

300

This is the risk of damage to our company's reputation as a result of a consumer complaint.

What is reputational risk?

400

This is the litigation exposure risk from a customer reporting a complaint to a regulator

What is legal risk? 

500

This agency oversees financial products and services that are offered to consumers. 

What is Consumer Financial Protection Bureau (CFPB) ? 

CRS or not?

100

Customer called in states " the battery is dying too quickly, I'm very upset because I just bought this car" 

This is not a CRS because this complaint does not raise reputation or legal risk 

200

The customer stated they are going to tell their friends and family to never get a Honda because the hold time is so long. 

This is a CRS, this complaint poses a reputation risk.

300

The customer stated we are not expediting her title release because she is a senior citizen. 

This is a CRS; this alleges discrimination due to age under UDAAP. 

400

The executor on a single party account states it is unfair we will not waive the short payoff balance.

This is a CRS; the caller is an authorized third party and alleges a violation under UDAAP. 

500

The insurance rep states our SLAs for LOG are misleading. 

This is not a CRS, insurance is not an authorized third party. 

CRS processing

100

This is the standard resolution time to close a CRS 

What is 5 business days?

200

This is how often you should use acronyms or abbreviations. 

What is never?