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Volume 2014 - Number 29

July 24, 2014

Consumer Narratives Would be Added to Complaint Database Under CFPB Proposal as Industry Frets

Mortgage lenders and other financial services providers are up in arms about a new Consumer Financial Protection Bureau proposal to allow consumers to post narrative complaints about companies in the agency’s online complaint database. The bureau wants to expand the current database to include “unstructured consumer complaint narrative data.” A consumer who submits a complaint will be given the opportunity to check a consent box giving the bureau permission to publish his or her narrative. Where the consumer provides consent to publish the narrative, the related company will be given...

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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