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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.
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