Advocating for ACA: BCFP Meeting Focuses on Industry Concerns with Complaint Database
ACA leaders had the opportunity to connect with BCFP staff to follow up on this year’s comments showcasing continued flaws in the complaint reporting process.
11/7/2018 10:00 AM
ACA International reiterated concerns about the Bureau of Consumer Financial Protection’s consumer complaint reporting processes outlined in comments filed this summer during a meeting with BCFP staff Nov. 6.
Leah Dempsey, ACA’s vice president and senior counsel, federal affairs, CEO Mark Neeb and Director of Research Josh Adams attended the meeting to discuss the continued concerns, including those with a recent complaint report on debt collection.
ACA International remains concerned about the process, as outlined in an earlier comment letter about members’ views on the bureau’s public reporting practices of consumer complaint information.
“Assisting consumers in resolving their legitimate debts is the goal of all ACA members. ACA encourages the bureau to make the necessary changes to the complaint portal in order to ensure that legitimate complaints are handled correctly, inquiries are given their appropriate designation and ultimately a consumer’s issue can be resolved,” Neeb said in the July 2018 comment letter.
Overall, ACA International supports an improved process for classifying complaint submissions to the bureau taking in to consideration how various states handle consumer complaints and inquiries as well as developing a series of questions on the complaint portal to help consumers classify their issues as a complaint or inquiry.
ACA International appreciates the opportunity to provide input on the RFI and meet with the BCFP and looks forward to the bureau’s response to feedback as it continues to evaluate the complaint handling and inquiry processes.
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