Consumer Complaint System

News & Analysis as of

Industry trade group launches campaign targeting CFPB plan to disclose complaint narratives

The Financial Services Roundtable has launched as multimedia campaign to challenge the CFPB’s proposal to expand the consumer complaint data that it publicly discloses to include complaint narratives....more

Time Is Running Out to Complain About the Complaint Portal

The CFPB maintains a public Consumer Complaint Database through which consumers may file complaints regarding financial services and products (commonly referred to as the “Complaint Portal”). The CFPB currently discloses...more

CFPB Cautions on Bitcoin and Begins Collecting Complaints on Virtual Currencies

The CFPB has issued a useful consumer advisory on virtual currencies. The advisory notes Bitcoin transactions may not be anonymous and “Information about each and every Bitcoin transaction is publicly shared and stored...more

Consumer Complaint Database and Public Narratives

For some time we have known about the Bureau’s “Consumer Complaint Database” (“Database”). The Bureau’s new proposal would expand the “public-facing database” to include “unstructured consumer complaint narrative data”...more

CFPB Extends Deadline To Comment On Complaint Narrative Proposal

On July 29, the CFPB announced that it extended 30 days to September 22, 2014 the deadline for submitting comments on its proposal to publish consumer complaint narratives. In doing so, the CFPB again defended the proposal as...more

CFPB extends comment period on proposal to publicly disclose consumer complaint narratives

The CFPB is extending the comment period on its proposed policy statement that would expand the complaint data that it publicly discloses in its Consumer Complaint Database to include “unstructured” complaint narratives. In a...more

Consumer Financial Protection Bureau Alert - July 2014

In this issue: - The CFPB at Year Three: A Look Back, and a Look Forward - CFPB Turns Three: Three Years, Big Impact - CFPB to Scrutinize Nonbank Products: Prepaid Cards, Debt Settlement, Credit Repair,...more

Consumer stories: CFPB birthday presents?

To mark the CFPB’s “third birthday,” Director Cordray sent an e-mail inviting consumers to share their “stories with the CFPB.” In addition, the CFPB has posted several videos on its website that Director Cordray described in...more

CFPB Expands Complaint Collection To Include Prepaid Cards, Additional Nonbank Products And Services

On July 21, the CFPB announced that it is now accepting consumer complaints regarding (i) prepaid products, including gift cards, benefit cards, and general purpose reloadable cards; (ii) credit repair services and debt...more

CFPB to Scrutinize Nonbank Products: Prepaid Cards, Debt Settlement, Credit Repair, and Pawn and Title Loans

Three years after it opened for business, on July 21, 2014, the Consumer Financial Protection Bureau (CFPB) announced it was accepting complaints from consumers with problems with (1) prepaid cards; (2) debt settlement...more

CFPB Complaints Database Expands to Include Prepaid Cards and Nonbank Products

On July 21, 2014, the Consumer Financial Protection Bureau (“CFPB”) announced that it has further expanded its Consumer Complaint Database (“Database”) to include additional types of financial products. Specifically, the CFPB...more

Bureau Proposes Sharing Consumer Narratives in Complaints Database

On July 17, 2014, the Consumer Financial Protection Bureau (“CFPB”) held a field hearing in El Paso, Texas to announce a new policy proposal (“Proposal”) that would expand the Consumer Complaint Database (“Database”) to allow...more

CFPB now taking complaints on prepaid cards, debt settlement services and more

Although we thought an announcement that the CFPB had begun taking complaints about new products would be made at its field hearing on consumer complaints last week, that announcement was made today. The CFPB announced that...more

CFPB issues new “snapshot” report on consumer complaints

The CFPB has issued a report on consumer complaints received from July 21, 2011 through June 30, 2014. According to the CFPB’s “Snapshot,” it handled approximately 395,300 complaints during this period, with its Consumer...more

CFPB hearing in El Paso on proposal to disclose consumer complaint narratives sheds light on CFPB position, reveals concerns of...

The CFPB held a field hearing yesterday in El Paso, Texas, at which it described its proposal to expand the complaint data it publicly discloses in its Consumer Complaint Database to include consumer complaint narratives. We...more

CFPB Proposes Publishing Detailed Consumer Complaints

On July 16, the Consumer Financial Protection Bureau (CFPB) published a proposal to expand public disclosure of details of consumer complaints filed via its web-based public consumer complaint database....more

Complaint Management Lessons From Dr. Seuss

To paraphrase a poem by the great Dr. Seuss, Oh, the places they’ve been. Oh, the places they’ll go! Consumer complaint management has been top of mind for the Consumer Financial Protection Bureau since the agency opened its...more

Can the CFPB be far behind?

Yesterday, the FTC announced that it has made its online Complaint Assistant easier to use for consumers who want to file a complaint with the FTC through their mobile device. While the CFPB has optimized its Spanish...more

CFPB Website Makes it Simple to Lodge Formal Complaints

In an apparent effort to help consumers feel that their grievances are being heard, the CFPB features a prominent portal on their website that allows consumers to lodge official complaints against mortgage servicers. A quick...more

Five Questions to Ask Before January 10, 2014 - CFPB Focus

1. Compliance Procedures. Have you updated your written policies and procedures for each of your products or services to encompass the new rules and regulations? Once updated, have you provided copies to your employees? Have...more

Second Annual CFPB Ombudsman Report Recommends Exam Changes

On December 3, the CFPB Ombudsman’s Office submitted its second annual report to the Director of the CFPB. The report contains an update on the systemic recommendations made last year and new recommendations stemming from the...more

FTC Emphasizes 'Aggressive Enforcement' and 'Vigorous Education' on Military Consumer Protection Issues

Charles A. Harwood, Deputy Director of the Bureau of Consumer Protection of the Federal Trade Commission, testified before a U.S. Senate committee last week about military consumer protection issues. Deputy Director Harwood's...more

CFPB Teams With City Of Columbus To Field Consumer Complaints

On November 12, the CFPB announced a partnership with the City of Columbus to provide local residents access to the CFPB’s consumer complaint hotline through the city’s existing constituent service hotline. Columbus residents...more

CFPB Considers New Debt Collection Rules

On November 6, the CFPB announced an advance notice of proposed rulemaking (ANPR) to solicit input on a wide array of issues related to consumer protection in the debt collection market. With the release of the ANPR, the CFPB...more

CFPB Begins Taking Payday Loan Complaints

On November 6, the CFPB announced that it now will formally accept borrower complaints regarding payday loans through its online complaint portal and by phone. The CFPB’s complaint taking process launched with the Bureau in...more

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