CFPB expands complaint database, drawing bankers' protests

The Consumer Financial Protection Bureau is opening to the public its database containing more than 90,000 complaints about credit cards, mortgages and other financial products. Previously, the database contained complaints related only to credit cards. Consumer Bankers Association President and CEO Richard Hunt says the move is a mistake. "A better service to consumers would have allowed for collaboration between the CFPB and financial institutions to determine if a complaint is indeed valid, prior to publication," Hunt said. Of the complaints, 55% pertain to mortgages, while 22% concern credit cards.

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