On December 20, 2011, Enterprise Financial Group, Inc. filed a petition and application for Temporary Restraining Order and Temporary Injunction against Better Business Bureau of Metropolitan Dallas, Inc. related to actions that resulted in a downgrading of the Company’s BBB rating from A+ to F.
EFG continues to be a strong advocate of the role of the BBB. However, while the Company supports rigorous and consistent application of high standards for customer service, the BBB has undermined its mission by applying those standards inconsistently across the market and has over-stepped its role by taking upon itself the responsibility for determination of the legality of contracts already approved by state regulatory bodies. In doing so, the BBB has created an un-level playing field that disadvantages EFG in the marketplace.
EFG entered 2011 with a BBB rating of “B”; however, the Company’s rating has changed six times in ten months, all the way from NR to A+ to NR to F to NR. The volatility in the Company’s rating has been a function of the fact that the BBB is testing a new accreditation system that is not used by all other BBB regions. As a result, EFG’s competitors, operating in regions outside of Dallas, maintain higher ratings from the BBB in spite of lower contract volumes and a higher number of registered complaints. Again, EFG maintains a complaint factor (number of contracts in-force vs. number of BBB received complaints) of .006 %.
In October 2011, the Dallas BBB brought five unresolved complaints to EFG’s attention. EFG responded promptly to each complaint with a reasonable explanation. Despite the fact that EFG believed all five situations were appropriate denials based upon the information it had at the time, EFG further reviewed the complaints. Ultimately, EFG agreed to pay four of the five claims upon receipt of cost information from the customer. The BBB was notified of the final decisions, but has failed to remove the complaints from their list of unresolved complaints, further reducing EFG’s ability to be rated fairly.
The BBB’s position is a clear violation of its own advertised mission statements, which require BBB-accredited businesses to adhere to the BBB’s published Standards for Trust: Build Trust; Advertise Honestly; Tell the Truth; Be Transparent; Honor Promises; Be Responsive; Safeguard Privacy; Embody Integrity.
EFG is in alignment with the BBB’s mission statements and strives on a daily basis to adhere to the BBB standards as well as our own core values of:
EFG will continue to support our customers with the same high standards that we always strived to maintain. Because our commitment to integrity and service excellence has been, and will continue to be, the foundation of our business, we cannot back away from a fight in which these values and our performance are unfairly challenged.