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MoFo Reenforcement The Enforcement Blog

Tag Archives: Consumer Complaint Database

MBA Letter: CFPB Complaint Database ‘Misleads Consumers’

Posted in CFPB

The Mortgage Bankers Association has published a letter to the CFPB expressing objections to the Consumer Complaints Database and providing recommendations for improvement. To read the letter, click here.

CFPB Issues Monthly Complaint Snapshot – Failure to Provide Normalization and Other Necessary Comparison Metrics Continues

Posted in CFPB, Credit Reports, Mortgage

On August 15, 2015, the CFPB released its latest “consumer complaint snapshot.” The Bureau’s “snapshots” generally provide updated national complaint information, and further include product and geographic spotlights that look into complaints involving a particular consumer financial product and a particular geographic location. In this month’s installment, the Bureau focused on credit reporting, as well… Read More

CFPB Announces Final Policy Statement to Share Consumer Complaint Narratives, and Issues an RFI Seeking Comment on a Proposed Consumer Compliments Database

Posted in CFPB

On March 19, 2015, the Consumer Financial Protection Bureau (CFPB) announced the issuance of a Final Policy Statement (“Policy Statement”) that expands its Consumer Complaint Database (“Database”) to allow consumers to publicly air the details of their alleged grievances with financial services providers by including consumer complaint narratives in the Database.  The CFPB first proposed… Read More

CFPB to Publish Narrative Consumer Complaints

Posted in CFPB

Despite loud industry objections and apparent impracticalities, the Consumer Financial Protection Bureau (CFPB) has moved ahead with its plan to allow consumers submitting to its Consumer Complaint Database to go public with narrative descriptions of their complaints. On March 19, the Bureau announced the change and encouraged consumers to “lift their voices” into a potentially… Read More