No CUs in CFPB Consumer Complaint Database
On June 12, the Credit Union National Association (CUNA) was briefed by the Consumer Financial Protection Bureau (CFPB) staff at the agency’s headquarters in Washington regarding the Consumer Complaint Database on credit card issues, which became available to the public. As of now, the database does not reflect any complaints filed about credit unions but does include big banks.
The CFPB database includes information on consumer complaints related to credit cards issued from issuers with at least $10 billion in assets. The database currently includes about 300 credit card complaints and will be updated daily. Although the agency has received over 17,000 credit card complaints since July of last year, the database includes only those received since June 1, 2012.
While the database currently includes only credit card complaints, the CFPB will be adding complaints related to other consumer financial products and services, such as mortgages and private student loans. However, the agency has not determined when these other categories will be added, according to Scott Pluta, acting assistant director and chief of staff for Consumer Response, who led the briefing.