From: The Wall Street Journal
Consumer-finance agency’s complaint portal generates results—and controversy
By Yuka Hayashi
Some industry officials and Republican lawmakers say the database is rife with inaccurate information and doesn’t protect consumer privacy. The effort, some say, exemplifies government overreach, increases company expenses and undermines companies’ own procedures for handling customer complaints.
Grumbling intensified last year when the CFPB started publishing the narratives of complaints, a step that opponents say Congress didn’t authorize.