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State Regulators Add Customer Complaint Management to SES Technology Platform 

State financial regulators now have the ability to input, manage and address customer complaints electronically within the State Examination System (SES) technology platform, the Conference of State Bank Supervisors (CSBS) announced today. 

State agencies can enter and process complaints about financial entities under their supervision. Summaries of all complaints are available to any state regulator using the complaints system, creating a risk-focused network.  

“Bringing together supervisory processes of examination, investigation and complaint review in one online platform offers a comprehensive view of state-supervised companies,” said Charles G. Cooper, Texas Banking Commissioner and vice-chair of State Regulatory Registry Board, a CSBS subsidiary. “The information will certainly inform our view of each institution and the financial system.”   

Companies licensed or registered through the Nationwide Multistate Licensing System will receive SES Consumer Complaints enrollment information when their state regulator is ready for each company to utilize the new system. Once registered, institutions will work with their regulator inside the system to resolve consumer complaints. 

Kyle Thomas, CSBS vice president in charge of SES development, explained, “This new feature will eventually replace many agencies’ routines of manually processing and resolving consumer complaints and improve their ability to share information with fellow regulators. Through SES, financial institutions operating in multiple states will see more benefits of streamlined supervision as more states bring their supervised entities onto the system.” 

“This new functionality will allow regulators to view complaints across the country and more quickly identify trends and bad actors,” said John W. Ryan, CSBS president and CEO. “This is another example of how states are creating a more networked system of supervision to enhance state oversight while streamlining compliance for regulated entities.” 

Currently, consumers can verify licensing status and view regulatory actions through NMLS Consumer Access. Future plans for the system include a consumer-facing portal where citizens of any state or territory can file a complaint about any financial institution under state oversight, and the system will route the complaint to the appropriate state agency for a resolution.  

Learn more by joining the SES Consumer Complaints Industry Webinar on Oct. 8 from 2-3 p.m. ET. Register at www.csbs.org/SESWebinar. All companies on the NMLS received a letter about the new functionality and webinar.  

About SES: The State Examination System is the first state-owned and state-developed end-to-end platform for state agencies to securely perform examinations, investigations, consumer complaint processing and enforcement actions.  

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Media contact: Catherine Pickels, 202-728-5734, cpickels@csbs.org 

Twitter: @CSBSnews 

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