Collector – January 2020 - 46

GOVERNMENT AFFAIRS

Contextualizing Consumer Complaints
The CFPB takes some steps to improve its complaint database, but the work is not done.
By Leah Dempsey

L

ast fall the Consumer Financial
Protection Bureau made several
changes to its Consumer Complaint
Database, which were in line with ACA
International's advocacy on this issue over
the past several years.
Despite some important improvements,
ACA and its members continue to push
for more clarity so the complaint database
better reflects the positive impact of
the accounts receivable management
industry and its work with consumers.
ACA has urged the bureau to provide
better contextualization of the number
of complaints compared to the number
of contacts and to do more work to weed
out mere inquiries, compared to actual
complaints or violations of law.
On Sept. 18, 2019, the CFPB announced
that it will continue the publication
of consumer complaints, data fields
and narrative descriptions through its
Consumer Complaint Database, while
making several enhancements to the

46

information available to users of the
database. It also indicated that more
changes are to come this year.

ANNOUNCED CHANGES
"Since its inception, the Consumer
Complaint Database has not been without
controversy," CFPB Director Kathy
Kraninger said. "When the Bureau asked
for feedback in 2018, we received nearly
26,000 comments from a wide array
of stakeholders including government
officials, consumer groups, companies,
academics, and individual consumers.
After carefully examining and considering
all stakeholder and public input, we are
announcing the continued publication
of complaints with enhanced data and
context that will benefit consumers and
users of the database while addressing
many of the concerns raised. The
continued publication of the database,
along with the enhancements, empowers
consumers and informs the public."

The changes it announced included:
modified disclaimers to provide better
context to the published data; integrating
financial information and resources into
the complaint process to help address
questions and better inform consumers
before they submit a complaint; and
information to assist consumers who wish
to contact the financial company to get
answers to their specific questions.
The bureau will continue to publish
all previously disclosed fields, including
consumers' narrative descriptions of
their complaints. To further enhance the
database in the coming months, the
bureau will:
* Build and launch dynamic visualization
tools, including geospatial and trend
views based on recent complaint data
to help users of the database
understand current and recent
marketplace conditions;
* Emphasize features for aggregation and
analysis while continuing to make all

ACAINTERNATIONAL.ORG


http://www.ACAINTERNATIONAL.ORG

Collector – January 2020

Table of Contents for the Digital Edition of Collector – January 2020

Upfront
Industry News
Best Practices
FYI
Collection Tips
Radical Redesigns
Four State Legislative Trends to Watch
Calendar
Honor Roll
Education Spotlight
Our International Reach
Tech Times are Changing
Exceptional Programming and Speakers Pay Off
Looking Forward to Monday Morning
Contextualizing Consumer Complaints
Another Look at Written Disputes
ACA SearchPoint
Ad Index
Membership
Last Word
Collector – January 2020 - Cover1
Collector – January 2020 - Cover2
Collector – January 2020 - 1
Collector – January 2020 - 2
Collector – January 2020 - 3
Collector – January 2020 - Upfront
Collector – January 2020 - 5
Collector – January 2020 - Industry News
Collector – January 2020 - 7
Collector – January 2020 - 8
Collector – January 2020 - 9
Collector – January 2020 - 10
Collector – January 2020 - 11
Collector – January 2020 - Best Practices
Collector – January 2020 - 13
Collector – January 2020 - FYI
Collector – January 2020 - 15
Collector – January 2020 - Collection Tips
Collector – January 2020 - 17
Collector – January 2020 - 18
Collector – January 2020 - 19
Collector – January 2020 - 20
Collector – January 2020 - 21
Collector – January 2020 - 22
Collector – January 2020 - 23
Collector – January 2020 - Radical Redesigns
Collector – January 2020 - 25
Collector – January 2020 - 26
Collector – January 2020 - 27
Collector – January 2020 - Four State Legislative Trends to Watch
Collector – January 2020 - 29
Collector – January 2020 - 30
Collector – January 2020 - 31
Collector – January 2020 - Calendar
Collector – January 2020 - Honor Roll
Collector – January 2020 - Education Spotlight
Collector – January 2020 - 35
Collector – January 2020 - Our International Reach
Collector – January 2020 - 37
Collector – January 2020 - Tech Times are Changing
Collector – January 2020 - 39
Collector – January 2020 - 40
Collector – January 2020 - 41
Collector – January 2020 - Exceptional Programming and Speakers Pay Off
Collector – January 2020 - 43
Collector – January 2020 - 44
Collector – January 2020 - Looking Forward to Monday Morning
Collector – January 2020 - Contextualizing Consumer Complaints
Collector – January 2020 - 47
Collector – January 2020 - 48
Collector – January 2020 - 49
Collector – January 2020 - Another Look at Written Disputes
Collector – January 2020 - 51
Collector – January 2020 - ACA SearchPoint
Collector – January 2020 - Ad Index
Collector – January 2020 - Membership
Collector – January 2020 - 55
Collector – January 2020 - Last Word
Collector – January 2020 - Cover3
Collector – January 2020 - Cover4
http://online.collector.com/collectormagazine/202001
http://online.collector.com/collectormagazine/201912
http://online.collector.com/collectormagazine/201911
http://online.collector.com/collectormagazine/201910/
http://online.collector.com/collectormagazine/201909/
http://online.collector.com/collectormagazine/201908/
http://online.collector.com/collectormagazine/201907/
http://online.collector.com/collectormagazine/201906/
http://online.collector.com/collectormagazine/201905/
http://online.collector.com/collectormagazine/201904/
http://online.collector.com/collectormagazine/201903/
http://online.collector.com/collectormagazine/201902/
http://online.collector.com/collectormagazine/201901/
http://online.collector.com/collectormagazine/201812/
http://online.collector.com/collectormagazine/201811/
http://online.collector.com/collectormagazine/201810/
http://online.collector.com/collectormagazine/201809/
http://online.collector.com/collectormagazine/201808/
http://online.collector.com/collectormagazine/201807/
http://online.collector.com/collectormagazine/201806/
http://online.collector.com/collectormagazine/201805/
http://online.collector.com/collectormagazine/201804/
http://online.collector.com/collectormagazine/201803/
http://online.collector.com/collectormagazine/201802/
http://online.collector.com/collectormagazine/201801/
http://online.collector.com/collectormagazine/201712/
http://online.collector.com/collectormagazine/201711/
http://online.collector.com/collectormagazine/201710/
http://online.collector.com/collectormagazine/201709/
http://online.collector.com/collectormagazine/201708/
http://online.collector.com/collectormagazine/201707/
http://online.collector.com/collectormagazine/201706/
http://online.collector.com/collectormagazine/201705/
http://online.collector.com/collectormagazine/201704/
http://online.collector.com/collectormagazine/201703/
http://online.collector.com/collectormagazine/201702/
http://online.collector.com/collectormagazine/201701/
http://online.collector.com/collectormagazine/201612/
http://online.collector.com/collectormagazine/201611/
http://online.collector.com/collectormagazine/201610/
http://online.collector.com/collectormagazine/201609/
http://online.collector.com/collectormagazine/201608/
http://online.collector.com/collectormagazine/201607/
http://online.collector.com/collectormagazine/201606/
http://online.collector.com/collectormagazine/201605/
http://online.collector.com/collectormagazine/201604/
http://online.collector.com/collectormagazine/201603/
http://online.collector.com/collectormagazine/201602/
http://online.collector.com/collectormagazine/201601/
http://online.collector.com/collectormagazine/201512/
http://online.collector.com/collectormagazine/201511/
http://online.collector.com/collectormagazine/201510/
http://online.collector.com/collectormagazine/201509/
http://online.collector.com/collectormagazine/201508/
http://online.collector.com/collectormagazine/201507/
http://www.nxtbookMEDIA.com