Browsing: Consumer complaints

Compliance and Risk

Consumer Financial Protection Bureau Director Richard Cordray today said he “urged” all bankers to review and analyze complaints in the CFPB’s public database — not only “the feedback you receive directly from your own customers, but also…complaints made about others in the same markets.”

Compliance and Risk

Any efforts made by the Consumer Financial Protection Bureau to “normalize” data in its consumer complaints database — that is, weighting it to account for differences that may distort interpretations of the raw data — would be fruitless to consumers without efforts to ensure the accuracy and integrity of complaint information, ABA said in a

Compliance and Risk

The CFPB today issued the first in a series of new monthly reports on consumer complaints. The report covers complaint volume by product, state and company, and this first report includes a product spotlight on debt collection and a special geographically focused section on complaints in Milwaukee, where the CFPB held a recent field hearing.

Compliance and Risk

ABA President and CEO Frank Keating in a letter yesterday shared members’ concerns about the Consumer Financial Protection Bureau’s recent decision to publish consumer complaint narratives, and he urged the bureau to improve its portal and database to help “mitigate unfair and inaccurate reputational damage to the banking industry.”