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ABA: The American Bankers Association
Statement

Statement on CFPB Complaint Database Changes

“Consumer feedback is important to all businesses, but only if that feedback is trustworthy and reliable. In that spirit, we appreciate the CFPB’s efforts to provide greater context for the information in its Consumer Complaint Database. ABA has long expressed concern that the publication of unverified consumer complaints may mislead consumers by introducing unreliable information into the market. The addition of prominent disclosures indicating that the Bureau doesn’t verify allegations in complaint narratives and that complaints don’t necessarily represent all consumers’ experiences are appropriate and welcome.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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