The Consumer Finance Protection Bureau announced last week that it has expanded the Consumer Complaint Database it launched last summer, increasing the number of complaints about credit card companies from 19,000 or so to 90,000. The added data comes from additional players such as mortgage companies, banks, private student loan providers and other consumer lenders. The CFPB is also releasing this data as an API and is encouraging developers to use it. Although supporters welcome the bold move, the finance community has cried foul.
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Finance Companies Bristle at Public Airing of Consumer Complaints
Posted by: Erika Morphy April 2, 2013 05:00 AMThe Consumer Finance Protection Bureau announced last week that it has expanded the Consumer Complaint Database it launched last summer, increasing the number of complaints about credit card companies from 19,000 or so to 90,000. The added data comes from additional players such as mortgage companies, banks, private student loan providers and other consumer lenders. The CFPB is also releasing this data as an API and is encouraging developers to use it. Although supporters welcome the bold move, the finance community has cried foul.