Fair Lending & Responsible Banking
Every decision we make about product development, product enhancement, marketing, policy governance, and customer experience is guided by our commitment to Fair Lending and Responsible Banking.
Our department of Fair Lending and Responsible Banking provides key oversight to ensure that our complete product and service suite is accessible to all market segments and that we are offering the right types of products and services. The key to this effort is our commitment to being better listeners and providing better solutions. Customer feedback is both welcome and necessary so we can ensure we are doing the right things.
Our approach to responsible banking is to act in the best interest of our customers by providing reasonably priced products, defining clear terms and disclosures, and offering fair and consistent service. By doing so, we can build lasting customer relationships and meet our responsibility to help them prosper.
In addition to Fifth Third Bank's strategy to empower people financially, we also focus on serving consumers through our extensive branch network and online and mobile platforms. Consumers come to us seeking our financial products—checking and savings accounts, home mortgages, lines of credit, and other personal finance vehicles—and advice to help them reach their goals.
For more than seven years, we've focused on measuring and improving the delivery of our services. This emphasis on the Customer Experience has aligned our employees' behavior with customer needs and helped us to be a better bank.
While it may seem simple, one of the ways we strive to continually improve the experience customers have with us is by actively listening. In 2012, customers told us they want simplicity, straight-forward products, good value and a relationship. Many of our new products—including our simplified suite of deposit accounts, a reloadable prepaid card called Access 360°, and enhancements to our online and mobile banking platforms—were a direct result of what customers told us they wanted. Key to the development and availability of these products were clearly outlined benefits and fees that underlined the value of the products. This transparency of product terms and conditions has helped us to build trust with our customers.