WASHINGTON - The top U.S. consumer watchdog will keep consumer complaints against financial firms public despite pressure from the companies, but the agency said on Wednesday it will make changes to the way those complaints are filed.
“After carefully examining and considering all stakeholder and public input, we are announcing the continued publication of complaints with enhanced data and context that will benefit consumers and users of the database while addressing many of the concerns raised,” said Kathy Kraninger, director of the CFPB.
Consumer advocates had been worried that Kraninger would make the database private, shielding companies’ missteps from the public gaze. Kraninger told Reuters in April that the agency was discussing how the database should operate.
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