Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CFPB Sets March Field Hearing For Consumer Complaint Database
WASHINGTON (3/13/2013)--The Consumer Financial Protection Bureau's (CFPB) Office of Consumer Response will host a field hearing on its consumer complaint database on Thursday, March 28 at 11 a.m. (CT), in Des Moines, Iowa.

CFPB Director Richard Cordray will open the hearing with remarks and the event also will feature testimony from consumer groups, industry representatives, and members of the public.

The CFPB database compiles consumer complaints related to credit cards, deposit accounts, mortgage loans, student loans and consumer loans. The bureau plans to add consumer complaints on other types of financial products over time.

While credit unions will not likely be the subject of a sizable number of consumer complaints, the Credit Union National Association has expressed concern that the public data release could have unintended consequences.

CUNA has warned that sensitive or confidential business or consumer information could be inadvertently disclosed when consumer complaints are filed in the database. "The bureau should take steps to minimize privacy risks and other unintended consequences," CUNA has said in a series of comment letters.

The CFPB said more information on the hearing will follow its Tuesday announcement. The event is open to the public and any interested party can sign up at cfpb.events@cfpb.gov with their full name and organizational affiliation, if it applies.
Other Resources

CFPB Release
RSS print
News Now LiveWire
.@CUNA VP of Econ MIke Schenk featured in Money magazine http://t.co/SC6Shv0lDH
17 hours ago
#NewsNow: @CFPB develops tools for student loan debt relief. http://t.co/a6pOReC86F
17 hours ago
Stephanie Smith has been named as the new executive director of America's #CreditUnion Museum. (2 of 2)
18 hours ago
America's #CreditUnion Museum executive director Peggy Powell is stepping down after 15 years. (1 of 2)
18 hours ago
#NewsNow League presidents raise voices for data breach protection http://t.co/zX1UsvsQP6
20 hours ago