CONSUMER FINANCIAL PROTECTION BUREAU

The CFPB recently announced that it has expanded its public Customer Complaint Database beyond complaints about credit cards. The database will now also include complaints related to mortgages, bank deposit products and services, student loans, and other consumer loans (a category that includes complaints about auto loans and leases). An audit of the CFPB’s Consumer Response System (CRS) by the Federal Reserve’s Office of Inspector General (OIG) found that improvements are needed to ensure that the requirements of the Federal Information Security Management Act of 2002 are met. The system allows consumers to submit complaints through the CFPB’s website. The OIG’s Executive Summary of its findings indicates that its report includes nine recommendations to CRS management to strengthen security controls for the system.