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Reports: The CFPB Gets Results for Consumers
Updated August 2016 (scroll down for new report: Predatory Loans and Predatory Loan Complaints)
The mission of the Consumer Financial Protection Bureau (CFPB) is to identify dangerous and unfair financial practices, educate consumers about these practices, and regulate the financial institutions that perpetuate them.
To help accomplish these goals, the CFPB has created the public Consumer Complaint Database. The database tracks complaints made by consumers to the CFPB and how they are resolved. It enables the CFPB to identify financial practices that threaten to harm consumers and enables the public to evaluate both the performance of the financial industry and of the CFPB.
Our report series reviews complaints to the CFPB nationally and on a state-by-state level, with the aim of uncovering patterns in the problems consumers are experiencing with financial products and services. Numerous news outlets, including the Wall Street Journal, Huffington Post, and Today Money, have covered our research. This August 2016 blog entry offers a quick summary of recent improvements to the CFPB Complaint Database structure and its available information for consumers, researchers and competitors.
July 2015:Mortgages and Mortgage Complaints reviewed complaints about mortgages and heralded the CFPB's recent (June 2015) inclusion, on a voluntary basis, of consumer narrative stories in the database going forward.
August 2016: Predatory Loans and Predatory Loan Complaints reviewed complaints about high-cost short-term small dollar (payday) loans and related high-cost installment loans using your paycheck as collateral, as well as similar loans using your auto title as collateral. The report also explains the history of payday lending regulation and analyzes a draft high-cost lending rule from the CFPB.
To file a complaint with the CFPB, visit the complaint portal at
To review complaints other consumers have made to the CFPB, visit
the public Consumer Complaints Database at
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