CFPB Ombudsman Highlights Issues with Consumer Complaint Database

December 9th, 2015

 

The Consumer Financial Protection Bureau (CFPB) Ombudsman recently published its annual report for 2015.  The independent office within the agency manages individual and systemic process issues on the behalf of consumers or covered entities. Among other topics, the report focused on problems with the CFPB’s consumer complaint collection and resolution processes.

The report cited numerous individual inquiries regarding administrative or technical concerns from companies and individuals, customer service support, process critiques and process questions. The Ombudsman also found instances of duplicate complaints and concluded that many companies do not adequately understand the distinctions within their response options.  The problems identified are largely aligned with those that have been elevated by industry trade groups. The report offers recommendations to address these issues.

Resources:

CFPB Press Release:

 

CFPB Ombudsman Annual Report:

 

Press: