Released: June 04, 2018
Groups tell temporary CFPB director: Hands off the public database!
Keep the public consumer complaint database open was the clear message sent by scores of groups to the temporary acting director of the Consumer Financial Protection Bureau (CFPB) today.
Consumer, civil rights, fair lending, privacy, legal services and community groups called on Acting Director Mick Mulvaney to maintain one of the few tools consumers have to check out a financial services company: the CFPB's consumer complaint database. Mulvaney has threatened to ban public access to the public database.
Groups spelled out how the CFPB is both required by law and compelled by continued good consumer protection practices to provide individuals with a process to report ongoing financial disputes and evaluate financial companies before doing business with them via its complaint database. The Bureau’s public database—with firsthand details of consumers’ financial complaints—provides a highly valuable tool for consumers who want to prevent problems, identify harmful business practices, and learn whether a company has a good record of resolving complaints.
Click here to view the comments that 71 organizations from across the nation submitted to the CFPB on Monday.