New U.S. Consumer Hotline Not Routing Some Complaints to Banks

August 30, 2011
consumer financial protection bureau news

Technical problems in a new system created by the Consumer Financial Protection Bureau have led to some consumer credit card complaints not reaching banks that issued the cards. The complaint response system has failed to properly route all inquiries, a problem the bureau says will be resolved within a matter of weeks. The system, mandated by Dodd-Frank, was launched on July 21. Its website invites consumers to file complaints about credit cards and will eventually cover other financial services. Some banks found that their volume of complaints dropped following its launch, says Richard Hunt, head of the Consumer Bankers Association. The banks were concerned they might be blamed for unanswered queries, he adds.
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