The Consumer Financial Protection Bureau issued a request for information seeking feedback on consumer complaint reporting — the sixth in an ongoing series of RFIs designed to provide the CFPB with input on how it is fulfilling its statutory obligations and how to improve outcomes for both consumers and covered entities.
Browsing: Consumer complaints
The Consumer Financial Protection Bureau’s prevailing governing philosophy of “pushing the envelope” in the name of enforcing consumer protection laws will shift under the bureau’s new leadership, Acting Director Mick Mulvaney said today in a memo to CFPB staff.
Wells Fargo CEO Tim Sloan appeared before the Senate Banking Committee today to provide an update on the steps the bank has taken over the past year to mitigate damages resulting from unauthorized accounts that were opened by Wells Fargo employees to meet sales goals.
In a comment letter to the Consumer Financial Protection Bureau today, ABA urged the bureau to confirm that it does not intend to test how it may collect complaints from small businesses.
The Treasury Department tonight issued a 150-page report making dozens of recommendations for how Congress and regulatory agencies can streamline bank regulation in a way that promotes economic growth.
Complaints about poor servicing practices account for 64 percent of all complaints about student loans, according to the Consumer Financial Protection Bureau’s periodic summary of consumer complaints today.
Billing disputes account for 17 percent of consumer complaints about credit cards, with identity theft and fraud concerns accounting for an additional 10 percent, according to the Consumer Financial Protection Bureau’s periodic summary of consumer complaints today.
Consumers complained most frequently about debt collection in December, according to the Consumer Financial Protection Bureau’s monthly complaint snapshot released today.
The Consumer Financial Protection Bureau’s proposed addition to its consumer complaint database would further erode consumer privacy and foster the spread of unverified information, ABA and the Consumer Bankers Association told the Office of Management and Budget in a joint comment letter today.
Despite opposition from ABA and others, the Consumer Financial Protection Bureau today took a step forward in its plan to add consumer ratings of responses to complaints to its complaint database.