Treasury Building Consumer Complaint Database for CFPB

The U.S. Department of the Treasury is looking to create a new complaint database to collect, respond to, and refer consumer inquires and complaints concerning consumer financial products and services.

According to the proposal, the database would house details about complaints and inquiries made to the Consumer Financial Protection Bureau (CFPB) implementation team, as well as complaints to the prudential banking regulators and Federal Trade Commission that have been referred to the team.  The system would be effective February 9, 2011, months before July 21, 2011, the “designated transfer date.”

Records in the database would include information received from or made by complainants, consumers, or other individuals or entities, identifiable information regarding the entities involved in the complaint, third party advocates who submit complaints, and more.

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The data will be used to respond to or refer complaints or inquiries; to inform other functions of the CFPB Implementation Team and, as appropriate, other agencies and/or the public; and to prepare reports as required by law.

Comments on the proposed database are being accepted until Feb. 9, 2011, when the new system is scheduled to take effect.

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  • “Comments on the proposed database are being accepted until Feb. 9, 2011, when the new system is scheduled to take effect.” How irresponsible. The day the comment period closes, the system is activated.

    The rest of January and nine days in February for comments and bam the new system goes into effect. If this is not ramrodding, what is it? There is no time to review the comments before the system is functioning.

    I hope that is not the methodology this bureau intends to employ on hearings and comment periods. The issue of access especially as to nothing more than accusations is bothering. The availability of this data could easily be expanded to the public.

  • “Comments on the proposed database are being accepted until Feb. 9, 2011, when the new system is scheduled to take effect.” How irresponsible. The day the comment period closes, the system is activated.

    The rest of January and nine days in February for comments and bam the new system goes into effect. If this is not ramrodding, what is it? There is no time to review the comments before the system is functioning.

    I hope that is not the methodology this bureau intends to employ on hearings and comment periods. The issue of access especially as to nothing more than accusations is bothering. The availability of this data could easily be expanded to the public.

  • The critic puts it on the line. I think we will see the bureau’s methodology like this in many things they impliment and try and control!

    John Smaldone

  • The critic puts it on the line. I think we will see the bureau’s methodology like this in many things they impliment and try and control!

    John Smaldone

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