Skip to main content

CFPB Issues RFI on Consumer Complaint Processing

Phil Hall
Apr 12, 2018
The Consumer Financial Protection Bureau has announced that it has taken measures to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic

The Consumer Financial Protection Bureau (CFPB) has issued its latest Request for Information (RFI), this time focusing on how it processes consumer complaints and inquiries.
 
The CFPB’s process for handling consumer complaints has been the subject of criticism from the financial services, particularly via the agency’s online complaint database that lists alleged problems experienced by anonymous consumers. The CFPB has received 1.5 million consumer complaints since it began operations, and the agency is putting forth this RFI to assess how the process is working and whether changes are needed.
 
This RFI is the 12th in a series initiated by CFPB Acting Director Mick Mulvaney to seek input and feedback from both consumers and the companies under the agency’s regulatory supervision.

 
Published
Apr 12, 2018
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021