CBA Statement on CFPB Complaint Database Changes

CBA Statement on CFPB Complaint Database Changes

WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Consumer Financial Protection Bureau announced planned changes to the Bureau’s complaint database:

“For too long, the Bureau’s unverified compliant database has functioned to paint a picture of guilt through government press releases and statements – despite the CFPB reporting the overwhelming majority of complaints being self-corrected by banks.

“These changes are an important first step in helping financial institutions better serve their customers and ensuring consumers’ needs are still heard.”

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers