BNA INSIGHTS: Navigating CFPB’s Consumer Complaint Process

The Consumer Financial Protection Bureau has many tools at its disposal to investigate possible violations. One of those key tools is the consumer complaint process, in which consumers can submit finance-related complaints directly to the CFPB. Given the CFPB’s reliance on this information to investigate financial institutions and the fact that this information is available to the public, it is important for financial institutions and any other entity supervised by the CFPB to understand how the consumer complaint process works. Below is a step-by-step discussion of the CFPB’s consumer complaint process.The CFPB consumer complaint process generally involves six steps, which ...