24 March 2018

US watchdog launches public credit card complaint database

19 June 2012  |  5142 views  |  0 Washington, capitol hill

The US Consumer Financial Protection Bureau (CFPB) has launched a public online database of complaints against credit card companies.

The beta site catalogues complaints about card issuers sent to the new CFPB and can be searched by fields such as institution, ZIP code, type of complaint and its outcome. No personally-identifiable information, such as names and card numbers, are shown.

The CFPB says that it hopes to extend the database to cover other financial products under its remit such as mortgages and loans as well as add more data fields and tools in the future.

The site - opposed by the industry - is the result of Dodd-Frank, which created the CFPB and gave it the authority to make public information about the markets for consumer financial products and services.

Richard Cordray, director, CFPB, says: "Each and every time we hear from American consumers about their troublesome transactions with financial products, it gives us important insight. The information helps us and it should be available to help others too. By making our data publicly available, initially in the area of credit cards, we hope to improve the transparency and efficiency of this essential consumer market."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Related blogs

Create a blog about this story (membership required)
21 June 2012
www.currencycloud.comRegister your place todayVisit www.vasco.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
14865 views 0 | 8 tweets | 5 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
12353 views comments | 16 tweets | 35 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
11985 views comments | 12 tweets | 23 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
10794 views comments | 14 tweets | 32 linkedin
Germany's N26 readies for US launch with EUR110 million capital injection led by Allianz and TenCentGermany's N26 readies for US launch with E...
8866 views comments | 15 tweets | 11 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job