The CFPB is expected to initiate a rulemaking process that would require companies under its jurisdiction to let customers talk to a human by pressing a single button. The CFPB also has plans to issue rules or guidance...more
Many financial services providers would be required to allow consumers seeking assistance to be connected to a “real person” by clicking on one button, under a new Biden Administration “Time is Money” initiative....more
El 6/6/24, el Tesoro de los Estados Unidos emitió una Solicitud de Información (“RFI – Request for Information”) para los usos, oportunidades y riesgos de la Inteligencia Artificial (IA) en el Sector de Servicios Financieros....more
On 6/6/24, the U.S. Treasury issued a Request for Information (RFI) for the uses, opportunities, and risks of Artificial Intelligence (AI) in the Financial Services Sector. The AI RFI presents nineteen questions that are...more
On May 30, 2024, the New York Department of Financial Services (DFS) published a press release and issued guidance to Virtual Currency Entities (VCEs) concerning the DFS’s expectations for the resolution of customer service...more
On May 30, 2024, the New York State Department of Financial Services ("NYSDFS" or the "Department") issued guidance to all virtual currency businesses licensed or chartered with the Department ("VCEs"), including those...more
Customer service issues represent an opportunity to both grow and acquire new business. It’s a dynamic that I have witnessed numerous times over my 36 years as a business leader in litigation services and technology. Now,...more
An ever-increasing number of companies are choosing to use chatbots on their website, in their sales organizations, and to help with customer service. In fact, according to Vantage Market Research, the chatbot market will...more
Join Jenner & Block Partners Jeremy Creelan, Megan Poetzel, and Laurel Loomis Rimon in the third CLE webinar in our series on Bank-Fintech Partnerships. Topics covered will include: - Managing customer communications...more
The FCC has issued a Notice of Proposed Rulemaking (NPRM) to consider prohibiting certain billing practices of cable operators and direct broadcast satellite (DBS) providers. Specifically, the FCC is proposing to ban cable...more
Discover how AI’s rapidly growing role in the workplace—including using AI tools to enhance deliverables, streamline operations, assist with recruitment and supervise employees—is catching the attention of the EEOC and other...more
Imagine gathering a team of data scientists, computer scientists, and cognitive psychologists in one room. What would they discuss? The latest statistical model or a new psychological theory? In our case, the discussion...more
You’re likely familiar with Maslow’s hierarchy of needs, the famous and oft-quoted (and misquoted) psychological model that shows how human motivations evolve, starting with the physiological (air, food, shelter) and...more
Do you ever wish for a little extra oomph from your employees? Or hat you could find a way to improve work performance? Well, you’re not alone! In today’s fast-paced and competitive world, consistently bringing your A-game to...more
The Texas Third Court of Appeals has offered guidance on the use of dealer incentive programs (DIPs) under the Texas Occupations Code (TOC). In Star Houston, Inc. v. Volvo Cars of North America, LLC and the Board of the Texas...more
CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking - "Poorly deployed chatbots can impede customers from resolving problems." Why this is important: The Consumer Financial Protection Bureau...more
As the evolution of Artificial Intelligence (“AI”) dominates headlines throughout the globe, financial institutions have been paying attention. Not surprisingly, so has the Consumer Financial Protection Bureau (“CFPB” or...more
CPUC R.23-04-006 - The California Public Utilities Commission (CPUC) recently launched a rulemaking (R.23-04-006) to implement SB 28 that authorized and directed the CPUC to adopt customer service requirements for state...more
In today’s digital age, social media has become an integral part of business marketing, customer service, and reputation management strategies. Establishing an authentic online presence is crucial, and one way to enhance...more
On June 6, 2023, the Consumer Financial Protection Bureau (CFPB) issued a Spotlight on financial institutions’ growing use of “chatbots” as a means to provide cost-effective customer service. The use of chatbots in...more
The U.S. Department of Transportation (DOT) and the White House on May 8, 2023, each made significant announcements concerning airline passenger rights, which are summarized below. First, DOT announced that it is expanding...more
In a case that will likely resonate with many readers, the FTC’s recent settlement with Vonage describes in excruciating detail the obstacles and costs that Vonage allegedly imposed on consumers when they tried to cancel...more
Like most businesses, government contractors are in the customer service field and have been conditioned to operate by the old adage that the “The customer is always right.” After all, the customer pays the bills, right? As a...more
On Thursday, Feb. 17, the Senate Finance Committee held a hearing entitled “Spotlighting IRS Customer Service Challenges.” The witnesses included National Taxpayer Advocate Erin Collins with the Internal Revenue Service...more
As 2021 runs in search of what’s new, we realize that the pandemic disruption has continued through 2021. The NMLS Ombudsman Meeting was held virtually and the upcoming American Association of Residential Mortgage Regulators...more