Based in Maryland, Patrick Sanders is an assistant managing editor for U.S. News & World Report and formerly worked as an editor for The Associated Press and at newspapers in West Virginia, Connecticut, Pennsylvania and Indiana.
The unpopular banking regulation was revised and scaled back in May. So how have banks dealt with the changes in the months since?
There’s no set response, as the best solution varies from bank to bank and hinges on factors far beyond high-tech nuts and bolts.
Customers want face-to-face help with vexing problems and to be left alone to tackle simple tasks. But oddly, some banks can’t tell the difference.
Reasons for customer ire range from thoughtless cross-selling to piling on fees. But smart banks listen and work to make things right.
It’s easy to envy the e-commerce king. But in following a strict regulatory rule book, banks can write a better customer service playbook.
Taking over financial services isn’t as easy as swallowing Whole Foods. The huge hurdles range from tight regulation to strict data security.