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RBC has another hot public relations error on their hands and it appears they are having difficulty dealing with the implications properly.

When there is a complaint or mistake there are simple rules to manage the process. First apologize and don't try to lay blame but investigate correctly and quickly. Second, if your organization is at fault, accept responsibility and don't be evasive. Thirdly, be proactive in correcting/compensating for the error. If you don't follow the discipline,beware of the risks in public relations, litigation and lost business.

The current problem appears to deal with accelerated mortgage payment options, the related documentation and representatives' explanations and verification. Obviously, there are fallout risks possible and writing ambiguous letters to customers will not help the situation but fuel more real risks.

The bank also appears to be hiding the magnitude of the errors which adds unnecessary concerns to others who are worried that they may also be victims. Be truthful, factual and protect customers' privacy. No doubt this error will have more lingering costs than if it had been handled properly in the first place.

Pat Palmer | Tuesday, January 29, 2019 | Trackbacks (0) | Permalink


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