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Wednesday, September 16, 2015

CFPB Watchdog Highlights Inaccuracies in Consumer Complaints

The inspector general for the Consumer Financial Protection Bureau issued a report yesterday spotlighting inaccuracies and process weaknesses in the CFPB’s consumer complaint database. The report recommended implementing controls to assess the accuracy of complaint fields in the database, implementing an address verification tool and monitoring company responses to ensure they are published appropriately and consistently, among others.

Read the report.