The CFPB’s Office of Servicemember Affairs released its fourth annual report highlighting complaints submitted in 2015 by servicemembers, veterans, and their families.
The report states that in 2015, the CFPB received approximately 19,200 complaints from members of the military community. (Total complaints received by the CFPB in 2015 were approximately 271,600.) … Continue Reading
The CFPB has issued its February 2016 complaint report which highlights complaints about prepaid cards and complaints from consumers in Texas and the Houston metro area. The CFPB began taking complaints about prepaid cards in July 2014.
General findings include the following:
In an effort to publicize its online complaint system and bring in more complaints, the CFPB is now soliciting complaints through Internet advertising. When browsing the Internet recently, we came across the following which appeared to be a Google ad placed by the CFPB:
The ad links to the “Submit a complaint” page on the CFPB’s website.… Continue Reading
The CFPB has issued its October 2015 complaint report, the fourth in its new series of monthly complaint reports. The new report highlights credit card complaints and complaints from consumers in the Chicago, Illinois metro area.
General findings include the following:
The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report spotlights mortgage complaints and complaints from consumers in the Denver, Colorado metro area.
General findings include the following:
The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report highlights mortgage complaints and complaints from consumers in the Denver, Colorado metro area.
General findings include the following:
I am delighted to be writing my first blog post for the CFPB Monitor as a new member of Ballard Spahr’s Consumer Financial Services Group. Before joining the Group, I served as an investigator in the CFPB’s Consumer Response Division which is responsible for maintaining the CFPB’s Consumer Complaint Database.
In a new report on internal controls governing accuracy in the Database, the Office of Inspector General (OIG) for the Federal Reserve found a number of ways that the CFPB’s management of the Database could be improved. … Continue Reading
In response to the CFPB’s Request for Information seeking “best practices for normalizing relevant data” in the CFPB’s Consumer Complaint Database, the American Bankers Association has submitted a comment letter in which it asserts that normalization will not remedy the significant flaws inherent in the CFPB’s public disclosure of consumer complaint data. … Continue Reading
The CFPB has issued its August 2015 complaint report, the second in its new series of monthly complaint reports. When it announced the launch of the new reports last month, the CFPB stated that each report would spotlight a particular product and geographic location. The August 2015 spotlights credit reporting complaints and complaints from consumers in the Los Angeles, California metro area.… Continue Reading
As of today, consumer narratives are publicly available on the CFPB’s consumer complaint database. In its press release, the CFPB stated that the database now includes “for the first time over 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more.”… Continue Reading