Items Tagged with 'CFPB Complaint Database'


  • 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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  • 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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  • Ted Cruz introduces bill to abolish CFPB

    Texas senator partners with Rep. John Ratcliffe to reintroduce bill
    While there appears to be some in the Republican Party who simply want to reform the Consumer Financial Protection Bureau, there are at least two Republicans on Capitol Hill who want to kill the agency altogether. The bills, introduced by Sen. Ted Cruz, R-Texas, and Rep. John Ratcliffe, R-Texas, would repeal Title X of the Dodd-Frank Wall Street Reform Act, which would abolish the CFPB entirely.
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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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  • Congress to consider changes to controversial CFPB complaint database

    New bill would require verification of complaint details
    When the Consumer Financial Protection Bureau began publishing consumers' complaints against financial services companies several years ago, many of those companies and other industry observers took issue with the fact that the complaints were, in many cases, unverified and unproven. But this could all change soon thanks to a new bill that Congress is set to consider.
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