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WBK Industry News - Federal Regulatory Developments

CFPB Enhances Consumer Complaint Database

The CFPB announced that it will continue to utilize the Consumer Complaint Database, including the publication of consumer complaints, data fields and narrative descriptions.  The CFPB also identified several enhancements to the information available to users.  According to the announcement, those enhancements include:

  • Modified disclaimers to provide better context to the published data;
  • Financial information and resources integrated into the complaint process; and
  • Information to assist consumers who wish to contact the financial company to get answers to questions.

Additionally, the CFPB plans to provide enhanced features for the database in the future, including dynamic visualization tools on recent complaint data.  The CFPB’s announcement also discusses changes planned for its website.