The Consumer Financial Protection Bureau today issued a bulletin outlining expectations for incentive compensation programs.
Browsing: Consumer complaints
While banks meet expectations for 93 percent of customers, they exceed them for only 36 percent of customers, according to a recent survey released by consulting firm Protiviti.
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.”
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 agency on Friday.
The CFPB today announced plans to change the “dispute” function in its consumer complaint database to allow complainants to take a short survey on the company’s response to their complaints.
The CFPB announced today that it is now accepting consumer complaints about loans from online marketplace lenders.
Despite its insistence that it is a “data-driven agency,” the Consumer Financial Protection Bureau has repeatedly failed to live up to appropriate data collection standards, said ABA EVP Wayne Abernathy in testimony before the House Financial Services Subcommittee on Oversight and Investigations today.
The inspector general for the Consumer Financial Protection Bureau issued a report today spotlighting inaccuracies and process weaknesses in the CFPB’s consumer complaint database.
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
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.