Links in “Complaints”

When it comes to complaints categories, visitors to the CFPB's complaint portal can pick such loan types of "mortgage," "payday loan" and "other consumer loan." The CFPB has become especially interested in a relatively new type of "other consumer loan," namely marketplace loans , where lenders use an online interface to connect consumers or businesses seeking to borrower money with investors willing to lend. [3/8/16]

While receiving a consumer complaint is not a new phenomenon, the way financial institutions are expected to handle complaints is changing and is now becoming a focus for examiners and regulatory agencies. Julie Kappenman of Mountain West Credit Union Association describes the eight components of a sound complaint management process. [2/19/16]

As of January 1, 2016, the CFPB has handled approximately 790,000 complaints, including approximately 20,300 complaints in December 2015. [2/8/16]

The CFPB has released its latest monthly consumer complaint snapshot highlighting consumer complaints about financial services such as debt settlement, check cashing, money orders, and credit repair noting key focus on fraud and problems with reliable customer service. [1/29/16]

Here's how one bank is making lemonade out of consumer complaints, from encouraging employees to upload a summary of whatever they hear customers grumbling about to encouraging employees to find a resolution on the spot. The results also cycle into new product development. [12/23/15]

Consumer complaints about money transfers are the leading source of concern identified in this month’s snapshot of consumer complaints filed with the CFPB. The majority of the consumer complaints in this area dealt with safety, accuracy and efficiency issues, and complaints from victims of fraudulent money transfer schemes. [12/23/15]

Ever wonder what consumers are saying about you behind your back? Thanks to the monthly CFPB Consumer Complaint Snapshot, there is no wondering required. The most recent November Complaint Snapshot shows that the bureau has handled over 749,400 complaints so far. Based on those 749,400 complaints, which complaint did the CFPB spotlight this month? Bank account and service concerns was the winner with nearly 10% of all complaints. Here are some key takeaways to keep your institution off that complaint list. [12/22/15]

The comment period is now open regarding the Department of Education's plans to create a new online complaint portal about federal student loans. Apparently, the CFPB's complaint system is intended more for complaints about private student loans. [12/15/15]

In response to reports of flaws in the CFPB's consumer complaint database, the bureau's chief sharply rebuked the database's detractors, rather than discuss efforts to improve the quality of the data, as presented by the bureau's ombudsman. [12/7/15]

Duplicate complaints, complaints about third-parties that may not even know the complaining consumer, and the normalization of data are among the recommendations offered to the CFPB by its ombudsman. [12/7/15]