The Consumer Financial Protection Bureau expanded the nation’s largest public database of federal consumer financial complaints on Wednesday.
The Consumer Complaint Database now has more than 90,000 individual complaints on financial products and services. The new database includes complaints on mortgages, student loans, bank accounts, consumer loans along with credit cards.
“By sharing these complaints with the public, we are creating greater transparency in consumer financial products and services,” said CFPB Director Richard Cordray. “The database is good for consumers and it is also good for honest businesses. We believe the marketplace of ideas can do great things with this data.”
The database will be updated daily as the CFPB handles more complaints. Complaints are listed only after the company responds to the complaint or after they have had it for 15 days, whichever comes first.
