FYI Financial News

  - Updates from DFI's Consumer Services

Spring 2011

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Message from Deb Bortner
Director of Consumer Services

Deb Bortner First I want to thank those individuals who took the time to answer our newsletter survey last Fall.

Our team was pleasantly surprised with the level and depth of the responses we received to our request for input. In fact it was the most enthusiastic feedback we have ever received, including both the number of individuals that completed the survey and the level of comments provided.

Of the 1200 individuals that opened up our communication, over 430 filled out the survey with 70 plus individuals providing more in-depth comments.

Here is what you told us.

  1. We Want a Newsletter: 84% said they want a newsletter with an additional 10% saying maybe!
  2. Focus it on Things We Care About: Between 88-91% said it should be focused on new legislation, rules and deadlines at a state and federal level, with approximately 60% also looking for general program information.
  3. Send it Out Quarterly: 75% said send it out on a quarterly basis.
  4. Customize it to Our Individual Industry: 65% said they want the news and updates to be clustered around the individual industry such as mortgage or payday lending.
  5. Readership Levels & Feedback Will Determine Value: 32% said success will be measured by the number of people who read the letter and 35% said a follow-up survey will also help.
  6. Comments-Mostly Thanks with Some Concerns & Tips: Of the 71 comments, most individuals expressed appreciation for us taking on this task and expressed a need to enhance communication. We also received several comments expressing concerns over a possible waste of time and highlighting the importance of not using this process to charge additional fees. We hope to alleviate those concerns by keeping it short, fast and easy to read.

As you read the articles and check the updates I am hoping you will see your input in both its format and content. From our perspective in DFI the newsletter is an important tool for two way communication that will better inform the industry and protect consumers while helping to make compliance a competitive advantage for our licensees. To this end we have included several articles, updates and links on issues that we consider important to share.

Finally please feel free to contact me with any feedback on: what we are doing right; where improvements can be made; and what we should focus on in the year ahead.

Sincerely,
Deb Bortner, Director Consumer Services