The Consumer Financial Protection Bureau —created by Congress after the 2008 financial crisis to help consumers fight back against unfair and illegal banking and lending practices – is under new leadership, and they are threatening to take down the important online public consumer complaint database.
Consumers across the country have submitted more than 1 million complaints against banks, lenders, debt collectors, and credit reporting agencies to the consumer complaint database.
Before the CFPB, consumers’ complaints against powerful banks and lenders fell on deaf ears. Some harmed consumers had virtually no place to go to report grievances.
The CFPB needs to hear from us now. Tell the CFPB to Keep the Public, User-Friendly Consumer Complaint Database (See Our Model Letter).
The new leadership at the CFPB has asked for feedback, and signs indicate that they want to shut down public access to the complaints.
Consumers will no longer have a way to review complaints and research the conduct of banks, lenders, debt collectors, and other financial institutions.
Submit A Letter: Tell the CFPB to Keep the Database Open and Available to the Public.
The CFPB has built a great tool that empowers consumers like us to share our grievances with not just the agency but also with fellow customers of our banks and lenders.
We can’t let this “new” CFPB take the public complaint database away from us. Let’s fight for it together.