Complete Story
07/17/2014
CFPB Proposes Publicly Sharing Complaint Narratives of Bureau-Supervised Institutions
| The Consumer Financial Protection Bureau proposed a new policy that would allow consumers to publicly share the narrative of their complaints about consumer financial products and services offered by CFPB-supervised institutions. Under the proposal, consumers could share the narrative description of complaints they submit to the CFPB on the bureau’s public-facing Consumer Complaint Database. Affected institutions would have the opportunity to post a written response that would appear next to consumers’ stories. The policy would apply to complaints about CFPB-supervised institutions, which does not include institutions with less than $10 billion in assets. The CFPB said it has handled more than 400,000 complaints over financial products since it began accepting them in July 2011, and it published an overview of the complaints it has handled. |
 |
