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News Now

Washington
CFPB starts consumer hotline pilot program
WASHINGTON (2/8/13)--Thanks to a new pilot program, consumers in the Newark, N.J., area need only to dial 4311 on their phones to have their financial product questions or complaints answered by the Consumer Financial Protection Bureau's Office of Consumer Response. Newark residents already could access certain non-emergency city services by calling 4311.

"Through this coordination, we will be able to reach and to help consumers who may not have found us otherwise," CFPB Director Richard Cordray said Thursday.

The CFPB said that citizens living outside of Newark can reach the consumer response office by:
  • Visiting consumerfinance.gov/Complaint;
  • Calling the toll-free phone number at (855) 411-CFPB (2372) or TTY/TDD phone number at (855) 729-CFPB (2372);
  • Faxing the CFPB at (855) 237-2392; or
  • Mailing a letter to P.O. Box 4503, Iowa City, Iowa 52244.
The Office of Consumer Response screens consumer financial complaints, and in some cases sends the complaints on to the applicable financial institutions. The agency said it has received more than 130,000 consumer complaints since it began accepting them in 2012.  Companies are required to respond to the complaints within 15 days and in many cases must address the issues outline in the complaints within 60 days.

Consumers can monitor the status of their complaint to the conumser response team on the CFPB's homepage. Complaints received outside of the CFPB's direct examination and supervision authority are transferred to the appropriate prudential regulators for processing.

For the full CFPB release, use the resource link.
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CFPB Release
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