Banks respond to CFPB complaint database

04/2/2013 | Housing Wire · Charlotte Observer (N.C.), The

Bank of America, which had the most complaints in the Consumer Financial Protection Bureau's recently released complaint database, says its purchase of Countrywide gave it a larger proportion of troubled mortgages, and therefore complaints. "Importantly, virtually all [98%] of the mortgage-related files received from CFPB since the process was initiated have been closed," the bank said. Wells Fargo and JPMorgan Chase also say they are working to help consumers when problems arise.

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Housing Wire · Charlotte Observer (N.C.), The

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