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CFPB Publishes Narratives

Sharon Edmondson, Washington Legislative Team Member | June 26, 2015

On June 25 the CFPB published more than 7,000 narratives by consumers of their grievances with financial companies as the agency unveiled a complaint database enhanced with personal stories—over the protests of the financial and banking industry. The CFPB addressed the concerns of the industry in March on potential reputational harm that may impact the industry by saying “there is always an inherent risk of harm in releasing complaint data and that consumer narratives can make it easier for the marketplace to evaluate the rest of the complaint data by providing more information and context.”

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