Are the voices of customers louder when they are seen? Evidence from CFPB complaints

dc.contributor.advisorHann, Rebeccaen_US
dc.contributor.authorMazur, Laurel Celastineen_US
dc.contributor.departmentBusiness and Management: Accounting & Information Assuranceen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2022-09-16T05:34:59Z
dc.date.available2022-09-16T05:34:59Z
dc.date.issued2022en_US
dc.description.abstractThis paper exploits a unique policy change in the banking sector – the first disclosure of the customer complaints submitted to the Consumer Financial Protection Bureau (CFPB) – to examine whether regulatory scrutiny represents one mechanism through which the disclosure of customer complaints can affect bank behavior. I find that banks with a higher complaint volume on the disclosure date increase mortgage approval rates relative to banks with fewer complaints in the same county, and that this effect is strongest in financially underserved communities. I further find that the disclosure effect is larger for banks under more regulatory scrutiny, namely, those operating in states with stronger consumer financial protection enforcement and those with prior consumer affairs violations. Taken together, the results suggest that the public disclosure of customer complaints, especially when accompanied by regulatory pressure, can serve as a mechanism for customers to influence banks’ consumer lending behavior.en_US
dc.identifierhttps://doi.org/10.13016/wtoc-4vtg
dc.identifier.urihttp://hdl.handle.net/1903/29153
dc.language.isoenen_US
dc.subject.pqcontrolledAccountingen_US
dc.subject.pqcontrolledBankingen_US
dc.subject.pqcontrolledFinanceen_US
dc.subject.pquncontrolledBankingen_US
dc.subject.pquncontrolledConsumer Financial Protection Bureauen_US
dc.subject.pquncontrolledDisclosureen_US
dc.subject.pquncontrolledMortgage lendingen_US
dc.subject.pquncontrolledSupervision and regulationen_US
dc.titleAre the voices of customers louder when they are seen? Evidence from CFPB complaintsen_US
dc.typeDissertationen_US

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