CFPB Develops Portal Industry Can Use to Respond to Complaints
October 10, 2011
The Consumer Financial Protection Bureau has developed a portal that companies can use to view and respond to entries in the new complaint database, Inside Regulatory Strategies has learned. The company portal serves as the interface between the CFPB and financial companies, enabling companies to view and respond to complaints submitted by consumers, the bureau said in a presentation to industry representatives recently. Using the portal, companies should provide an explanation of the resolution and the actions taken in the consumers situation, select a resolution status for the complaint and attach relevant documents, if necessary. The CFPB also maintains a consumer portal so complainants can check the status of their cases. Heres an overview of the complaint process: A consumer files a complaint, then the CFPB routes the complaint to the company.