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CFPB stops publishing unverified complaint narratives in its database
The CFPB said it will keep collecting complaints and sharing complaint data with regulators, while moving earlier narratives to its FOIA reading room.
The Consumer Financial Protection Bureau said it will stop publishing unverified consumer complaint narratives and related data visualizations in its consumer complaint database, citing concerns about consumer confusion and reputational harm. The CFPB said the narratives can be misleading because they reflect only negative consumer experiences.
The agency said its complaint process does not independently verify the allegations in each narrative, and that complaints do not necessarily allege violations of law. The CFPB also noted that publication of the narratives has been discretionary and, based on years of experience, provides limited value when made public.
The CFPB said previously published narratives will remain available through its Freedom of Information Act reading room. It also said it will continue collecting and monitoring complaints and reviewing companies’ responses for completeness, accuracy, and timeliness.
The bureau added that it will continue disclosing certain complaint data through FOIA requests and will securely share complaint information with federal and state regulators and other government agencies. The announcement comes as lawmakers have focused on reducing duplicative or fraudulent complaints in the CFPB’s database.