In a blow to financial-services industry, the CFPB will keep consumer complaints database public

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 16%
  • Publisher: 97%

This 'empowers consumers and informs the public,' the CFPB director said.

United States Headlines News

United States Latest News, United States Headlines

The Consumer Financial Protection Bureau is keeping its consumer complaints database public, in a surprising move that may assuage advocates’ concerns.

Mulvaney had said that the agency shouldn’t need to run a “Yelp YELP, -0.14% for financial services, sponsored by the federal government.” Advocates feared that making the database private would limit the CFPB’s ability to address consumers’ concerns. Those in favor of keeping the database public said it helps consumers make more informed decisions about financial products and services. Some also argued it aided the agency in identifying harmful practices. Those in the financial-services industry, meanwhile, argued that the damage these complaints could do to a company’s reputation was potentially irreversible.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The head of the CFPB now believes that the financial regulator is unconstitutionally structuredThe head of the Consumer Financial Protection Bureau now believes that the financial regulator she leads is unconstitutionally structured.
Source: CNBC - 🏆 12. / 72 Read more »

U.S. consumer financial complaints database to remain public, watchdog saysThe top U.S. consumer watchdog will keep consumer complaints against financial f...
Source: Reuters - 🏆 2. / 97 Read more »

There's a new database of thousands of jobs at space companies, including SpaceX, Blue Origin and moreThere's a new database of thousands of jobs at space companies, including SpaceX, Blue Origin & more
Source: CNBC - 🏆 12. / 72 Read more »

The head of the CFPB now believes that the financial regulator is unconstitutionally structuredThe head of the Consumer Financial Protection Bureau now believes that the financial regulator she leads is unconstitutionally structured.
Source: CNBC - 🏆 12. / 72 Read more »

What’s Disrupting the Textile Market TodayMacro-economic forces and changes in consumer behavior are expected to impact the industry.
Source: wwd - 🏆 24. / 68 Read more »

India's 25 best start-ups to work for, according to LinkedInStart-ups shaking up India's hospitality, healthcare and financial services industries are among the most appealing places to work right now, according to LinkedIn. MakeIt MakeIt WOW ❤️❤️👏👏🙏🙏HOLA 👋👋👋YO SOY EL MÉDIUM DE LAS 13 FAMILIAS ❤️🙏👋👋👋
Source: CNBC - 🏆 12. / 72 Read more »