CFPB to Hold Field Hearing in Texas on Consumer Complaints

July 15, 2014

The Consumer Financial Protection Bureau will hold a field hearing at 10:30 a.m. MDT, Thursday, July 17, to address consumer complaints.

The event will feature remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives and members of the public.

This event is open to the public, but RSVP is required to attend. Email the CFPB to RSVP. The field hearing will be streamed live on the CFPB’s blog. ALTA will provide an update on what the CFPB addresses during the field hearing.

Three years ago, the CFPB launched a company portal allowing financial institutions to view and respond to complaints in the CFPB consumer complaint database. It’s been reported that the CFPB has dropped a plan that would have required banks to sign a contract giving the bureau ownership of consumer complaints received through its online complaint portal. According to report by the American Banker, the CFPB had distributed a draft contract to a limited number of banks to gauge reaction.