Articles Tagged with ''Consumer complaint''

CFPB considers ending public access to bank complaints

“I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says
A new report from the Wall Street Journal says the Consumer Financial Protection Bureau is considering ending the public's access to its complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
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Last Chance: CFPB will soon end consumer complaint response feedback

Final ask for info on consumer complaints and inquiries
The Consumer Financial Protection Bureau issued its 12th and final request for information by asking about its handling of consumer complaints and inquiries. The bureau is asking for assistance in assessing its handling of consumer complaints and consumer inquiries and, consistent with law, considering whether changes to its processes would be appropriate.
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CFPB invites comments on “usefulness” of consumer complaint database, reports

Latest in string of requests for information from agency in upheaval
The CFPB’s consumer complaint database and the reports derived from it have long been a source of consternation for the financial services industry, ever since the bureau decided to make those complaints public over the objections of many industry observers. But there’s a new boss at the CFPB now, and he ain’t the same as the old boss.
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[Charts] CFPB: Here's a state-by-state breakdown of consumer complaints

How do mortgage complaints stack up in each state?
Mixing it up from the standard monthly complaint report, the Consumer Financial Protection Bureau’s June snapshot presented a detailed breakdown of consumer complaints in all 50 states and the District of Columbia. Check out the following charts to see which financial areas received the most complaints.
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CFPB analyst: We use consumer complaint database as insider guide for exams

Analyzes complaints for potential legal violations
The Consumer Financial Protection Bureau’s consumer complaint database has been a source of controversy since its inception, as many industry participants took issue with the fact that the complaints were made public, despite potentially being unverified and unproven. And based on what one CFPB analyst said Wednesday, you can see why the complaint database is the bane of the financial industry’s existence.
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CFPB consumer complaint database about to hit 1 million complaints

Cordray discusses milestone during Wells Fargo hearing
The Consumer Financial Protection Bureau’s much-maligned consumer complaint database is about to reach 1 million total complaints, CFPB Director Richard Cordray said Tuesday. And, as it turns out, the database proved helpful in levying the $185 million fine against Wells Fargo for opening 2 million fake accounts.
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CFPB: Mortgages no longer in top spot for complaints

Debt collection practices received the most complaints in March
Since starting to accept complaints in 2011, the Consumer Financial Protection Bureau received more complaints related to mortgages than any other category, until this month. In some states, however, mortgages continue to be the No. 1 complaint.
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CFPB: Complaints about Ocwen keep falling

Only one in top 10 most-complained-about companies that saw complaints drop
Long the target of regulators and consumers due to its mortgage servicing practices, Ocwen Financial finds itself in a unique position in a new report from the Consumer Financial Protection Bureau: Complaints against the much-maligned nonbank keep falling.
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CFPB: Complaints against Ocwen are falling

Nonbank showing improvement in consumer complaints
Perhaps constantly being under the microscope of regulators is having a positive impact on Ocwen Financial and its standing with its customers. According to a new report from the Consumer Financial Protection Bureau, complaints about Ocwen dropped by a significant margin in the last year.
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CFPB turns microscope on mortgage industry practices

Latest complaint database snapshot details consumer issues with industry
After being relatively spared in the first two snapshot reports of the Consumer Financial Protection Bureau’s consumer complaint database, the mortgage industry is the focus of the third report, and the results aren’t terribly positive. So who's in the CFPB's crosshairs the most?
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