Mon. Dec 2nd, 2024
Consumer Financial Protection Bureau Adds Enhancements to Consumer Complaint Database

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today announced the addition of a geospatial view to the Consumer Complaint Database. With this addition, consumers will now be able to view complaints by state with a U.S. map visualization.

Consumers have been able to view complaints by using date, company name, key words, and other filters. The Bureau also has added new options, including the ability to:

  • Select from set of pre-defined time frames (e.g., 3 years) to help users understand more recent marketplace conditions
  • Map complaints per 1,000 population or total complaints by state
  • View aggregate information about products and issues consumers submit complaints about
  • Apply word searches and filters to update the interactive map

“The Consumer Complaint Database is a powerful tool for the Bureau to hear directly from consumers about their concerns and experiences with financial products and services,” said CFPB Director Kathleen L. Kraninger. “The interactive map and other enhancements are part of our effort to provide the public with additional information and context regarding consumer complaints that are received.”

The interactive map features, as well as other enhancements, were announced by the Bureau in September 2019. Those enhancements included integration of financial information and resources into the complaint process to help address questions and better inform consumers before they submit a complaint, as well as modification of disclaimers to provide better context to the published data.

Since 2011, the Bureau has handled more than 2.2 million consumer complaints. More than 5,000 financial companies have responded through this process, providing timely responses to 97 percent of the more than 1.5 million complaints sent to them for response. Complaints are published after the company responds, confirming a commercial relationship with the consumer, or after 15 days, whichever comes first.

The Consumer Complaint Database is available at: https://www.consumerfinance.gov/data-research/consumer-complaints/

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The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.

Official news published at https://www.consumerfinance.gov/about-us/newsroom/cfpb-enhances-consumer-complaint-database/

Images courtesy of PixaBay

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originally published at Finance - RSVTV news