Complaining in Consumer Credit: Evidence from the Italian Financial System

S. Cosma (), Francesca Pancotto and P. Vezzani ()
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S. Cosma: University of Modena and Reggio Emilia
P. Vezzani: University of Modena and Reggio Emilia

Chapter Chapter 6 in Contemporary Issues in Banking, 2018, pp 123-148 from Palgrave Macmillan

Abstract: Abstract In many countries, Banking Authorities have adopted an Alternative Dispute Resolution (ADR) procedure in order to manage complaints that customers and financial intermediaries cannot solve by themselves. As a consequence, banks have had to implement complaint management systems in order to answer the requests of the customer. The growth rate of customer complaints has been increasing in the last years. This does not seem to be only related to the quality of financial services or to the lack of compliance of banking output. This chapter analyses the characteristics of complaints submitted directly to financial intermediaries by consumers regarding credit services. Subsequently, the analysis is extended to the characteristics of complaints received at the Banking Financial Arbitrator (BFA) and related to consumer credit. The analysis refers to the period 2013–2016, and it uses both confidential data collected by Assofin and public data collected by BFA. The aim of this chapter is to highlight how the behaviour of consumers submitting a complaint to a bank or an appeal to the BFA has changed over the years and to highlight the role of the current ADR approach and its main critical issues with specific concerns to consumer protection.

Keywords: Alternative dispute resolution (ADR); Credit complaints; Consumer credit; Customer relationship; Households (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-319-90294-4_6

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DOI: 10.1007/978-3-319-90294-4_6

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