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New to Data Planet: Consumer Financial Protection Bureau Consumer Complaints Database

by Data Planet ™ on 2019-08-15T17:57:53-04:00 in Prices, Consumption, and Cost of Living | Comments

In response to user request, we recently loaded the Consumer Financial Protection Bureau (CFPB) Consumer Complaint Database into Data Planet. Here you’ll find information on complaints received at CFPB about a wide a range of consumer financial products and services. Since complaints were accepted beginning in July 2011, the CFPB’s goal has been to help consumers connect with financial companies to understand issues with their mortgages, fix errors on their credit reports, stop harassment from debt collectors, and get direct responses about problems with their credit cards, checking and savings accounts, student loans, and more.

Complaints can be viewed by company, issue and product the complaint was made about, and the resolution. For example, in the chart below, we’ve compared the top three issues reported to date in 2019 for Wells Fargo and JP Morgan and Chase:

 

The CFPB was created to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace. While you’re exploring the data, there’s a few items to keep in mind:

  • CFPB does not verify all the facts alleged in these complaints, but does take steps to confirm a commercial relationship between the consumer and the company.
  • Company-level information should be considered in context of company size and/or market share.
  • Complaints referred to other regulators, such as complaints about depository institutions with less than $10 billion in assets, are not published in the Consumer Complaint Database.
  • Consumers provide consent to publication of the information; any personal information submitted is not published.

Is there a database that you're interested in accessing through Data Planet? Send us your suggestions anytime at onlinesupport@sagepub.co.uk.

We'd love to hear from you!!


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