Reporter Ylan Mui explains here that
The Consumer Financial Protection Bureau [today] will begin releasing detailed information on Americans’ complaints about their credit cards, part of a public database that the agency hopes will be both comprehensive and granular. Complaints are the primary way that most consumers interact with the new agency. The CFPB said it has received more than 45,000 in the year since the bureau was launched. How it handles those complaints — and how much it makes public — has been a source of tension between the agency and financial industry groups. ... 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. CFPB Director Richard Cordray said that the information represents the first time such detailed data would be available publicly.
Read another article on the new CFPB database. (The article also notes CFPB's claim that the agency has resolved to the consumer's satisfaction around 80% of the 45,000 complaints it has received to date).
I need more articles and blogs please post soon.
Posted by: freecreditreport | Thursday, July 12, 2012 at 01:12 AM