Cordray says Consumer Complaints are Key to Helping Consumers and the Marketplace
Thursday, March 28, 2013 12:51 PM
In addition to announcing the availability of a new consumer complaint database, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) told attendees at a Consumer Response Field Hearing that complaints give the new agency three distinct and important ways to help consumers.
Each complaint is a chance to evaluate a perceived problem and see if it can be resolved quickly. CFPB has received more than 130,000 complaints from individual consumers, including complaints about mortgages, credit cards, student loans, auto loans, bank accounts, credit reports, and more and has helped consumers secure millions of dollars in monetary relief and non-monitory solutions such as cleaning up credit reports. In this way he said, our consumer response team is making a real difference in the financial marketplace…
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