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ABA: The American Bankers Association
Compliance News

CFPB Releases Ombudsman's Office 2019 Annual Report

The Consumer Financial Protection Bureau on Dec. 5 released the Ombudsman's Office 2019 annual report. The report outlines the Bureau's work process and summarizes their activities from the last year. The report includes discussion and recommendations on two topics: consumer complaints referred to the CFPB from other agencies, and information provided to consumer on defendant-administered redress. New in this report is a thematic snapshot of CFPB's work over time and an information sheet that describes the federal financial ombudsman offices. The report also details an evaluation of the Ombudsman Interactives pilot program, which will now be part of CFPB's recurring programs, and FAQs about the Ombudsman Forum program.