CFPB Updates Its Consumer Complaint Database

Each week, the Consumer Financial Protection Bureau (CFPB)’s Consumer Complaint Database receives thousands of complaints about financial products and services from people like you and me and sends them to companies for response. Just this past June, the CFPB released a major improvement to this consumer complaint database, making the underlying stories available for the general public to review.

In July 2011, the CFPB began to accept consumer complaints to help consumers with issues ranging from debt collections to mortgages, credit reports to students loans, and more. These complaints have helped the CFPB connect consumers with financial companies, with 98% of consumers receiving responses from companies in a timely fashion, and has helped the Bureau to identify trends and problems in the marketplace. Submitted complaints also help the CFPB to identify and stop any inappropriate practices before bigger problems ensue.

By submitting a complaint, we not only have the opportunity to have our issues heard by financial companies, but can help others to avoid the same problems. Have you had an issue with a financial product or service? Visit the Consumer Complain Database, and add your voice today.

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