Coordinating Consumer Complaints


On August 12, 2011, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into an agreement with the Federal Trade Commission (FTC), allowing the CFPB to access consumer complaints within the FTC’s Consumer Sentinel system.

This agreement implements a Dodd-Frank Act provision that requires the CFPB to share consumer complaint information with the FTC and other state and federal agencies. In addition, the CFPB will share complaint information that it receives from consumers with the Sentinel database, subject to appropriate privacy protections and access restrictions.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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