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CFPB proposes policy to allow consumers to share complaint
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Regulatory Updates
Tuesday, July 22, 2014
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The Consumer Financial Protection Bureau is proposing a new policy that would empower consumers to publicly voice their complaints about consumer financial products and services. When consumers submit a complaint to the CFPB, they would have the option to share their account of what happened in the CFPB’s public-facing Consumer Complaint Database. Publishing consumer narratives would provide important context to the complaint, help the public to detect specific trends in the market, aid consumer decision-making, and drive improved consumer service.
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