Consumer Complaint System

News & Analysis as of

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

CFPB now taking payday loan complaints

The CFPB has announced that its consumer complaint system is now accepting complaints about payday loans. In describing the issue involved in a complaint, a consumer can choose from the following...more

Banking & Financial Services E-Note - October 30, 2013

In This Issue: - Fed Proposes Rule Requiring Banks to Stay Liquid During Crisis - Simulation Tests Banks' Survival Against Cyber Attacks - Largest Banks Close to Meeting Mortgage Settlement Obligations -...more

NCRC issues analysis of CFPB bank account complaints

The National Community Reinvestment Council (NCRC) has issued an analysis by zip code of consumer complaints received by the CFPB about bank accounts. The analysis used complaint data in the CFPB’s publicly available database...more

CFPB Partners With Jackson, MS On Consumer Complaint Hotline

On September 20, the CFPB announced a partnership with the City of Jackson, Mississippi, to accept and respond to questions and complaints about financial products and services posed directly to the Bureau by local residents....more

Banking Trade Group Objects To CFPB Consumer Complaint Data Collection

Last week, the American Bankers Association submitted a letter in response to the CFPB’s notice and request for comment on certain information collection activities, namely its request for a generic clearance covering its...more

ABA opposes CFPB generic information collection clearance

Earlier this month, we reported that the CFPB had proposed a new generic information collection clearance titled “Generic Clearance for Consumer Complaint and Information Collection System (Testing and Feedback).”...more

Tools to Ensure You Are Compliant With Your Compliance Check

It seems as if the Consumer Financial Protection Bureau (CFPB) has released final rules regarding consumer mortgage lending and servicing on a daily basis. There have been just as many announcements from the CFPB that is was...more

CFPB Issues Response Guidance for Compliant System’s Company Portal

The CFPB recently posted new "Response Guidance," which outlines what the CFPB deems "best practices" for financial institutions to follow in responding to consumer complaints, on its company portal....more

CFPB Targets Debt Collection in New UDAAP Bulletins, Complaint System, Consumer Action Letters

The Consumer Financial Protection Bureau made clear that debt collection continues to be a major focus by issuing two new bulletins and five action letters for consumers to use when responding to debt collectors....more

The CFPB Expands its Public Database and Makes it Easier to Target Your Company

On March 28, 2013, the Consumer Financial Protection Bureau (CFPB) announced that it was going to share its database with the public, thereby “creating greater transparency in consumer financial products and services.” It did...more

CFPB Expands Information Available in its Consumer Complaint Database

On May 31, 2013 the Consumer Financial Protection Bureau (“CFPB”) announced that it had expanded the information contained in its Consumer Complaint Database to include credit reporting complaints, money transfer complaints...more

CFPB Releases Consumer Reporting And Money Transfer Complaints, Expands Complaint Database Functionality

On May 31, the CFPB published for the first time consumer complaints about credit reporting, which the CFPB began accepting in October 2012, and money transfer complaints, which it began accepting in April 2013....more

CFPB expands complaint database

On Friday, the CFPB announced that it had expanded its public Consumer Complaint Database to include complaints about credit reporting and money transfers. Simultaneously, the CFPB announced that complaints in its public...more

Consumer Financial Protection Bureau Begins Accepting Consumers’ Money Transfer Complaints

Noting that “[i]t’s pretty incredible that you can quickly send money to almost anywhere in the country or abroad,” the Consumer Financial Protection Bureau (“CFPB”) recently announced it has begun accepting consumer...more

CFPB Announces Collection Of Money Transfer Complaints

On April 4, the CFPB announced that it is collecting money transfer complaints. Although the CFPB previously was accepting some complaints about money transfers under the “bank account” topic in its complaint system, it now...more

CFPB Issues Third Semiannual Report

On March 29, the CFPB released its third semiannual report, which covers the Bureau’s activities from July 1, 2012 through December 31, 2012. The report reviews, among other things, the CFPB’s supervision, enforcement, and...more

Government Announces New Complaints Regulations for Bank Customers, Oversight by Federal Consumer Agency of Canada

On April 10, 2013, the Canadian federal government announced the final publication of new regulations that will govern the system for resolving complaints regarding products or services provided by banks and authorized...more

Hanging Out to Air: CFPB Expands Consumer Complaint Database

The Consumer Financial Protection Bureau (CFPB) recently expanded its existing Consumer Complaint Database to cover additional consumer financial products and services. ...more

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