CallMiner Product Innovation Series: Q1 2025
CallMiner's, Bruce McMahon, shares key product updates from Q1 2025. CallMiner AI Assist advancements, CallMiner Outreach, Bulk Export API enhancement...
CallMiner Outreach is here! |Learn about the future of CX
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The Team at CallMiner
February 26, 2025
By Jennifer Buffaloe, Sr. Director, Customer Success, and Lauretta Campestre, AVP, Success Strategy, CallMiner
We’ve all heard the rumors and seen the news – the Consumer Financial Protection Bureau (CFPB) is facing potential defunding, which could reshape the landscape of consumer protection in the United States. While regulations like FDCPA, UDAAP and FCRA still stand, reduced enforcement has the potential to shift where consumer complaints and actions come from, as well as to shift the trust consumers have in businesses.
Source: CFPB public complaint database & reporting
Over the past 20 years, the CFPB has issued $19 billion in consumer relief, spanning monetary compensation, principal reductions and cancelled debt. Further, the Bureau has imposed approximately $5 billion in civil penalties on companies violating consumer financial laws. Without the same level of federal oversight, companies may face increased scrutiny from consumers, state regulators, and even civil litigation. Are you prepared for the shift?
Let’s explore what could change, the potential impacts, and what you should be considering to ensure consumer trust and protection.
The CFPB’s power lies in enforcement. Designed to protect consumer financial rights, it has been the watchdog to ensure organizations comply with existing regulations, including:
However, with potential defunding and reduced proactive enforcement, businesses might feel a momentary sigh of relief. But is this really a win?
While changes in enforcement may be on the horizon, customer complaints and concerns won’t stop. You need to understand the potential impacts to your business.
Source: CFPB Consumer Complaints
The question is, how effectively are you utilizing technology to navigate these challenges?
The potential defunding of the CFPB isn’t just a shift in enforcement, it’s a shift in responsibility. Consumers expect that their concerns are being heard and actioned in a timely manner. Brands can reassure trust by:
If the landscape of consumer protection changes, are you ready to navigate it? Conversation intelligence allows businesses to actively monitor consumer vulnerability and ensure compliance, fostering a culture of continuous improvement – building trust and safeguarding your reputation.
If you’re a CallMiner customer, engage with your customer success team today and let’s discuss how you’re preparing:
Hear how CallMiner customers are tackling compliance to mitigate regulatory risk, increase revenue and ensure customer trust:
Stay ahead. Stay compliant. Stay trusted.
CallMiner is the global leader in conversation intelligence to improve customer experience (CX). CallMiner delivers the industry’s most comprehensive platform to analyze omnichannel customer interactions at scale, combining deep domain expertise with cutting edge AI analytics and machine learning. By elevating insights from the contact center to the boardroom, CallMiner enables companies to identify areas of opportunity to drive business improvement, growth and transformational change more effectively than ever before. CallMiner is trusted by the world’s leading organizations across all major verticals including technology, media and telecom (TMT), retail, manufacturing, financial services, healthcare, and travel and hospitality.