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US Consumer Bureau Opens Online Credit Card Complaint DB

chiguy (522222) writes | more than 2 years ago

0

chiguy writes "The Consumer Financial Protection Bureau begins releasing detailed information on Americans’ complaints about their credit cards online.

From The Washington Post:
"The CFPB said it will only publish complaints after it has verified the consumer’s relationship with the company. The new database will include not only the name of the company involved, but also the nature of the complaint and the consumer’s Zip code. It will also report whether the firm responded in a timely manner, how the matter was resolved and any disputes.

The CFPB said it has received more than 45,000 in the year since the bureau was launched."

Complaints about mortgages, student loans, and checking accounts will be added later. Financial institutions are complaining loudly, decrying the enforcement of one of the main tenants of the free market: transparency."

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