The downside of scaling back the CFPB complaint database


For U.S. financial institutions, a searchable government database that holds 1.2 million consumer complaints has mostly been a source of irritation.

Banks and other lenders say they can be unfairly maligned by consumers whose grievances that have not been vetted for accuracy. Industry groups also chafe at how the Consumer Financial Protection Bureau cites numbers from the database without some of the relevant context.

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