In a notice published in today’s Federal Register, the CFPB is seeking comments on a proposed addition to the current complaint intake form. The new field would include a survey that consumers may choose to respond to, providing their feedback on the company’s response to their complaint. The consumer would be able to opt-in and provide this feedback publicly, much the way they can with their complaint narrative. … Continue Reading
complaint system
Is another expansion of the CFPB’s complaint system imminent?
By Barbara S. Mishkin on
The CFPB has announced that it will hold a field hearing on March 28 in Des Moines, Iowa on the Bureau’s consumer complaint system. The CFPB’s practice has been to use field hearings to announce new initiatives. Director Cordray is slated to give remarks, and we would not be surprised to see Director Cordray announce at the March 28 event that the complaint system has begun taking complaints about debt collection and/or payday and short-term loans.… Continue Reading
Fed’s evaluation of CFPB’s consumer complaint system describes CFPB’s plans for referrals from state regulators
By Barbara S. Mishkin on
Posted in CFPB General, Regulatory and Enforcement
The Federal Reserve Board’s Office of the Inspector General (OIG) has issued an evaluation of the CFPB’s Consumer Response unit, which is responsible for managing the CFPB’s consumer complaint system. First launched in July 2011 for credit card complaints, the system was expanded in November 2011 to take mortgage complaints and, earlier this year, the system was further expanded to take complaints about deposit accounts, student loans, auto loans and other consumer loans. … Continue Reading