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ARTICLE · 14 APRIL 2015

The CFPB’s Controversial New Narrative Complaint Policy

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On March 19, 2015, the Consumer Financial Protection Bureau (CFPB) issued a new consumer complaint policy that gives individual complainants the ability to provide narrative versions of their complaints...

United StatesConsumer Protection
Jeffrey Brown
Jeffrey Brown
Joshua Davey
Joshua Davey

On March 19, 2015, the Consumer Financial Protection Bureau (CFPB) issued a new consumer complaint policy that gives individual complainants the ability to provide narrative versions of their complaints about a company, product or service.  While the CFPB has been accepting consumer complaints since its inception in 2011, historically, the Consumer Complaint Database has provided only a limited amount of basic information about a complaint and a company's response, and there has been no option to share a narrative submission.  To date, the CFPB has handled more than 558,800 such complaints, with mortgage and debt collection concerns being the most frequently raised issues by consumers.

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