Links in “Complaints”
- NCUA Updates Complaint Portal
The NCUA has recently launched its improved online Consumer Assistance Center portal. Technological enhancements streamline the process for consumers to submit inquiries, complaints, and additional documentation through a secure portal. Shortly, credit unions will also be able to use the portal to voluntarily submit complaint response information. [9/16/15]
- Inspector General: CFPB’s Complaint Database Gets a “Needs to Improve”
A report by the Fed's Office of the Inspector General finds areas where the accuracy and completeness of the CFPB's consumer complaint database should be improved. The report noted that the CFPB "has not established separate management controls to ensure the accuracy of data extracted from the system," adding that it "found several noticeable inaccuracies in our analysis." See also here. [9/16/15]
- NCUA Goes All Techno on Complaints
The NCUA announced its capacity to gather and resolve consumer complaints in a more efficient manner through the new online Consumer Assistance Center. CAC allows consumers to submit inquiries, complaints and additional documentation online as well as check the status of their complaints online. Upcoming plans call for Credit Union responses to complaints. [9/11/15]
- Risk Watch 67: Serving U.S. Servicemembers and Avoiding Complaints
Earlier this year, the CFPBâs Office of Servicememberâs Affairs released a report outlining data and trends from complaints submitted by servicemembers, veterans, and their families. In this Risk Watch video AffirmX Analyst Rachel Osborn outlines the major findings and tips on how financial institutions can better work with servicemember. [8/28/15]
- Credit Report Complaints Surge 56% in July
The number of complaints skyrocketed over the previous month. The CFPB is taking notice. "The bureau will continue to work to ensure that credit reports are fair, accurate, and available to all consumers." [8/26/15]
- CFPB Complaint Trifecta: Debt Collection, Credit Reporting, Mortgages
The CFPB's July complaint snapshot finds debt collection (with 31% of the complaints in July) in the top spot, credit reporting (25%) in the second spot, and mortgages (17%) rounding out the top three. Mortgages still hold the top spot overall, accounting for 28% of all complaints since the bureau opened in 2011. [8/26/15]
- CFPB Launches Monthly Complaint Report
The report is described as "the first in a new series of monthly reports to highlight key trends from consumer complaints submitted to the Bureau." The report is meant to provide overall data on complaint volume, as well as spotlighting particular products and locations. [7/20/15]
- They Don’t Call it a Compliment Database
The CFPB provides plenty of tools for users of the consumer complaint database, now featuring complaint narratives, to share the items via social meet, such as on Facebook, Twitter or email. One way to help avoid seeing the scales tipped totally the other way is to solicit feedback from consumers before they feel that turning to the CFPB is their only choice. What's more, customers with positive experiences could become evangelists for the financial institution. [7/13/15]
- CFPB: How’s the New Complaint Database Working Out?
The CFPB went live with the enhanced version of its consumer complaint database last week. It has published a request for information on how it can help the public more easily understand the information presented. [7/2/15]
- CFPB’s Consumer Complaint Narrative Database Goes Live
Despite industry objections, the CFPB added consumer complaint narratives to its database. The feature debuted with more than 7,000 gripe stories. [6/26/15]
