Certified Forensic Loan Auditors, LLC

  Upcoming Classes

Search CFLA's Article Archive:

CFPB begins public disclosure of consumer complaint narratives

jdsupra.com | June 28, 2015

By Barbara S. Mishkin

Consumer narratives are now publicly available on the CFPB’s consumer complaint database. In its press release, the CFPB stated that the database now includes “for the first time over 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more.”

In March 2015, despite widespread industry criticism, the CFPB announced that it had decided to adopt its plans to publicly disclose the narratives. According to a new CFPB blog post about the availability of the narratives, since the CFPB’s complaint form began advising consumers of their right to opt-in to disclosure of their narratives, approximately 59 percent of consumers submitting complaints through the CFPB’s website have opted-in.

The CFPB’s press release also describes various enhancements to the database accompanying the disclosure of the narratives. According to the press release, database users can now do the following:

  • Search consumer narratives for product names or features such as the brand name of a credit card or a mortgage feature.
  • Search for terms in consumer descriptions of what happened (with the CFPB giving as examples “lost paperwork,” “foreclosure scam,” or “robo-signing”).
  • Sort complaints by state and zip code.

The CFPB’s announcement regarding the narratives was accompanied by the issuance of a Request for Information seeking “best practices for normalizing relevant data in the Database.” The RFI describes “normalization” as the process of “making raw complaint data more meaningful by supplementing that data with a context more useful for consumers and other market participants,” such as by providing information on the size of a credit card issuer’s business as compared to others. The RFI contains a series of questions to which the CFPB is specifically interested in receiving responses. In the RFI, the CFPB states that it does not anticipate publishing a proposed policy statement on the subject of the RFI. Responses will be due on or before 60 days after the RFI’s publication in the Federal Register.


Back to June 2015 Archive


CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
BBB Logo



Contact us or view our Sample Documents & Audits by completing the form below.

International Bloomberg Securitization Audits


DVD Sets Only $99


FREE Mortgage Fraud Analysis


Order Cutting-Edge Services Now


Quiet Title Packages from Licensed Attorneys


Affiliate Services


CFLA Sponsored Attorney Links


Take-Home Education Package