Consumer complaints filed with the CFPB so far this year have increased due to a surge in gripes about credit reports, according to an analysis by Inside the CFPB.
The CFPB will continue to publish all previously disclosed fields in its consumer complaint database, but will find ways to provide the information in a more accurate and fair manner.
The bureau is exploring the use of “Tech Sprints,” a model used in the United Kingdom for collaborative innovation, to promote regulatory compliance innovation.
The CFPB’s review of a fintech company’s lending practice shows that using alternative data could expand credit access and at the same time allow lenders to remain compliant with fair lending laws.
Reversing the trend of the previous year, consumer complaints filed with the CFPB in-creased in the second quarter, according to an analysis by Inside the CFPB.
The CFPB extended the comment period by three months on its advanced notice of proposed rule-making regarding whether to revise additional HMDA data points added under its 2015 rule.
The institute has called for full public release of multifamily lending data collected for 2018. Meanwhile, the CFPB said it will retire its HMDA explorer tool in the coming months.
Consumer complaints filed with the CFPB continued on a downward path in the first quarter, according to a new analysis by Inside the CFPB. [Includes one data chart.]
Mortgage complaints filed with the CFPB declined over the past two years, and the most-criticized category was mortgage servicing, according to a new snapshot. [Includes one data chart.]
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