Released: July 16, 2018
Protect the CFPB’s critical complaint process
Groups representing consumers, students, seniors, servicemembers, homeowners and underserved Americans joined forces today to tell the temporary leadership of the Consumer Financial Protection Bureau (CFPB) that consumers need more—not less—access to its complaint database and complaint process.
Groups from across the country called on the CFPB to increase and improve complaint transparency by making details of financial problems and resolutions a primary source of information for the public, including consumer feedback on complaint outcomes. The Bureau currently shares complaint feedback with companies but not with consumers.
Direct consumer feedback helps empower consumers, hold companies accountable, and helps the CFPB better recognize companies that consistently provide excellent or poor customer service.
Consumer groups urged the Bureau to focus on ensuring that consumers are receiving timely responses and resolutions to their financial complaints and expand rather than eliminate consumer access to these critical consumer protection tools.
Click here to view the coalition’s comments on the Complaint process at the CFPB.