Consumer Response: Interim Report on CFPB's Credit Card Complaint Data.

摘要

The Consumer Financial Protection Bureau (CFPB) was created when Congress passed and President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. A critical component of the CFPBs work is its interface with the public, which includes listening and responding to consumers about financial products and services. As part of the CFPBs July 21, 2011 launch, it established a Consumer Response office and a system for addressing consumer complaints. The complaint system which includes a toll-free number and a form on the CFPB website began with a focus on credit cards. The CFPB chose this financial product because of its wide use, and because credit card problems have been historically among the highest kinds of consumer grievances. This report summarizes the first three months of the CFPBs Consumer Response complaint system and its work on credit card complaints.1 Going forward, the Bureau plans to provide similar credit card complaint data reports as part of a formal credit card complaint data disclosure policy. The Bureau is publishing a proposal for that data disclosure at the same time as this interim report. As the complaint system matures and a formal policy is developed, future reports may present more detailed information. In the CFPBs first three months, less than half of the calls that Consumer Response handled resulted in the filing of a credit card complaint. Instead, most of the calls resulted in taking general feedback from consumers or directing consumers to credit card informational resources or just answering general questions about credit card processes.