Collaboration could improve complaint database, Hunt says

04/8/2013 | Washington Post, The

Some say the Consumer Financial Protection Bureau's expanded database of consumer complaints helps resolve mortgage problems and other banking issues. Critics, meanwhile, argue that the database is flawed because it doesn't verify the validity of complaints and it penalizes large banks that do the most business. "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," said Richard Hunt, CBA president and CEO.

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