Date: September 22, 2014
Issue: Complaint Database
To: CFPB
Filing Type: Regulatory
Description: Financial institutions and providers dedicate enormous resources to customer service processes and carefully listen to customer concerns. We share the CFPB goal of ensuring that consumers are satisfied with their financial products and services and welcome any effort by the Bureau to strengthen companies’ relationships with their customers and to support effective customer service processes. Unfortunately, we do not believe that the Bureau’s existing consumer complaint database does either of these things. Our letter outlines five top concerns for the Bureau to consider.