Collector – January 2020 - 47

GOVERNMENT AFFAIRS

the underlying data available
for analysis; 
* Explore expansion of a company's
ability to respond publicly to individual
complaints listed in the database; and 
* Continue to explore ways to put the
complaint data in context of other data,
such as by incorporating product or
service market share and company size.
To date, the CFPB has handled more
than 1.9 million complaints. More than
5,000 financial companies have responded
through this process, providing timely
responses to 97% of the more than
1.3 million complaints sent to them
for response.

ACA'S COMMENTS
During the CFPB's Request for
Information process, ACA filed two
different comment letters urging that
changes should be made to the complaint
database. We appreciate that some of our
concerns were addressed.
ACA's comments noted that our
members overwhelmingly supported "an
improved process of classifying consumer
submissions to the bureau. As for this
specific point, 100% of the ACA members
who responded to a recent survey state

COLLECTOR 01.20

"The website should provide links for inquiries or
questions to financial education resources on the
bureau's website, so that the answers to questions
can be more easily accessible to consumers and not
waste time and resources when mischaracterized as
a complaint."

they would like to see the bureau require
consumers to classify their submissions
affirmatively as a complaint or inquiry
prior to submission. ACA understands,
however, that this may be difficult for some
consumers; therefore, ACA recommends
two possible options for the bureau. One
option would be for the bureau to develop
a series of questions on the complaint
portal to help consumers classify their
issues as a complaint or inquiry, which
then would direct consumers to different
areas of the portal in order to ensure
correct routing."
The new disclosures, which could
better route consumers to the appropriate

location and highlight FAQs that may
already answer an inquiry, are an important
step forward in addressing ACA's concerns.
In fact, ACA's comments outlined a similar
process, stating in our RFI response
that, "The website should provide links
for inquiries or questions to financial
education resources on the bureau's
website, so that the answers to questions
can be more easily accessible to consumers
and not waste time and resources when
mischaracterized as a complaint."
The CFPB's website notes: "Complaint
volume should be considered in the context
of company size and/or market share. For
example, companies with more customers

47



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
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