CFPB will prioritize consumer complaints

Acting Consumer Financial Protection Bureau (CFPB) Director Dave Uejio directed the Division of Consumer Education and External Affairs (CEEA) to ensure consumer experiences are at the center of CFPB policymaking. “Moving forward CEEA should redouble its efforts to ensure the bureau engages all consumers who are economically suffering,” said Acting Director Uejio. This engagement includes prioritizing consumer complaints, which are at an all-time high, according to the agency.

Acting Director Uejio suggests that certain regulated entities have been “lax” in their treatment of consumer complaints and have failed to meet the CFPB’s expectation that companies will respond to those complaints in a substantive and timely manner. “I also understand that consumer advocates have found disparities in some companies’ responses to Black, Brown, and Indigenous communities,” said Acting Director Uejio. “This is unacceptable.” CFPB’s consumer response division will prepare and publish a report on those companies with a “poor track record” on complaint responsiveness.

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