Eliminating Fraud in the CFPB’s Complaint Database Act

This bill would change how the Consumer Financial Protection Bureau (CFPB) handles consumer complaints about financial companies. People filing a complaint would have to swear, under penalty of perjury, that the information is true, that they are the consumer or an authorized representative, and that they told the company about the problem at least 60 days earlier. Companies could close complaints without further action if they find them duplicative, frivolous, unauthorized, fraudulent, or not first raised with the company, but must report the closure and reason to the CFPB. The CFPB would have to keep the written narratives in complaints and company responses confidential, though it could publish combined data that does not identify individuals.

Full text and official record on Congress.gov

Sponsors

• Andy Barr Republican sponsor
• 0 cosponsors