ANOTHER GREAT RESOURCE; Consumer Financial Protection Bureau

About CFPB

This agency has been controversial since the day it was established by the Dodd-Frank Act. The Democrats said that it would protect consumers and the Republicans said that it was excessive regulation. We will not discuss that topic today, but their website is a great source of information for Real Estate Professionals.

Consumer Complaint Database

It is impossible to discuss everything covered, but one of their duties is to protect and inform the public. The one item that I would like to discuss is their Consumer Complaint Database. As of the beginning of 2019 they had received 1,286,412 complaints about financial companies. That is a lot of complaining.

This section on their site explains how someone can file a complaint. The agency then forwards it to the financial company. Their success in getting responses is amazing. So if you have anyone complain to you about some financial company, direct them to this site.

Database of Complaints

Then, there is the Database of Complaints. The complaints are listed as given. Makes for interesting reading. You can check by company, topic, regulation, etc.

This is not all that is on the site. It has many surveys, publications, and just good information. Check it out. The government is making all this information available to you so use it. An informed public is better for the real estate industry.

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