More than 230,000 complaints have poured into the fledgling Consumer Financial Protection Bureau in the past two years, with mortgages and debt collection topping the list of grievances.
But CFPB Director Richard Cordray told Yahoo News in an exclusive interview that he wants Americans to complain more.
“I do want your Yahoo Nation to know that they can and should file complaints with us about problems with mortgages, credit cards, student loans, auto loans,” he said.
The independent federal agency received 600 complaints, mostly about credit cards, in its first month. But it soon added other categories for unhappy consumers, and now the protests are pouring in at a good clip — 10,000-12,000 per month through http://www.consumerfinance.gov/complaint/ and by phone at (855) 411-CFPB (2372).
Once a complaint is filed, the CFPB passes it on either to the company concerned or to another government agency. Companies have 15 days to respond to the consumer and the agency, and must address mostRead More »from Top consumer cop: Mortgages, debt collection top complaints