[Federal Register Volume 79, Number 149 (Monday, August 4, 2014)]
[Notices]
[Pages 45183-45184]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-18355]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2014-0016]


Disclosure of Consumer Complaint Narrative Data

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Proposed policy statement; extension of comment period.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) currently 
discloses certain complaint data it receives regarding consumer 
financial products and services via its web-based, public-facing 
database (Consumer Complaint Database). On July 23, 2014, the Bureau 
published in the Federal Register a Notice of Proposed Policy Statement 
with Request for Public Comment (Proposed Policy Statement) proposing 
to expand its disclosure to include unstructured consumer complaint 
narrative data (narratives). The Proposed Policy Statement

[[Page 45184]]

provided a 30-day comment period that will end on August 22, 2014. To 
allow interested persons additional time to consider and submit their 
responses, the Bureau has determined that an extension of the comment 
period until September 22, 2014, is appropriate.

DATES: The comment period for the Disclosure of Consumer Complaint 
Narrative Data Proposed Policy Statement published July 23, 2014, at 79 
FR 42765, is extended. Responses must now be received on or before 
September 22, 2014.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2014-
0016, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Monica Jackson, Office of the Executive Secretary, 
Consumer Financial Protection Bureau, 1700 G Street NW., Washington DC 
20552.
     Hand Delivery/Courier: Monica Jackson, Office of the 
Executive Secretary, Consumer Financial Protection Bureau, 1275 First 
Street NE., Washington DC 20002.
    Instructions: All submissions should include the agency name and 
docket number for this proposal. Because paper mail in the Washington, 
DC area and at the Bureau is subject to delay, commenters are 
encouraged to submit comments electronically. In general, all comments 
received will be posted without change to http://www.regulations.gov. 
In addition, comments will be available for public inspection and 
copying at 1275 First Street NE., Washington DC 20002, on official 
business days between the hours of 10 a.m. and 5 p.m. eastern standard 
time. You can make an appointment to inspect the documents by 
telephoning (202) 435-7275.
    All comments, including attachments and other supporting materials, 
will become part of the public record and subject to public disclosure. 
Sensitive personal information, such as account numbers or social 
security numbers, should not be included. Comments generally will not 
be edited to remove any identifying or contact information.

FOR FURTHER INFORMATION CONTACT: For general inquiries, submission 
process questions, or any additional information, please contact Monica 
Jackson, Office of the Executive Secretary, 202-435-7275.

SUPPLEMENTARY INFORMATION: On July 17, 2014, the Bureau issued the 
Proposed Policy Statement. The Proposed Policy Statement was published 
in the Federal Register on July 23, 2014. The Proposed Policy Statement 
seeks comment, data and information from the public on the Bureau's 
proposal to include narratives in the Consumer Complaint Database.
    On December 8, 2011, the Bureau published in the Federal Register a 
proposed policy statement describing its plans to disclose certain data 
about the credit card complaints that consumers submit to the Bureau 
(December 2011 Proposed Policy Statement).\1\ After receiving and 
considering a number of comments, the Bureau finalized its plans for 
publically disclosing data from consumer credit card complaints and 
published the final policy statement on June 22, 2012 (June 2012 Policy 
Statement).\2\
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    \1\ 76 FR 76628, Dec. 8, 2011.
    \2\ 77 FR 37616, June 22, 2012.
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    Also on June 22, 2012, the Bureau concurrently published in the 
Federal Register a proposed policy statement describing its plans to 
disclose data from consumer complaints about financial products and 
services other than credit cards (June 2012 Proposed Policy 
Statement).\3\ After receiving and considering a number of comments, 
the Bureau published the final policy statement on March 25, 2013 
(March 2013 Policy Statement).\4\ In the June 2012 Proposed Policy 
Statement, the Bureau did not propose including narratives in the 
Consumer Complaint Database.
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    \3\ 77 FR 37616, June 22, 2012.
    \4\ 78 FR 21218, April 10, 2013.
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    Notwithstanding this, the Bureau received a significant number of 
comments specific to narrative disclosure. Consumer, civil rights, and 
open government groups supported disclosure on the grounds that 
disclosing narratives would provide consumers with more useful 
information on which to base financial decisions and would allow 
reviewers to assess the validity of the complaints. Two privacy groups, 
while acknowledging privacy risk stemming from publication of ``non-
identifiable'' data and calling for further study, supported disclosure 
on an opt-in basis. Trade groups and industry commenters nearly 
uniformly opposed disclosure of consumer complaint narratives.
    The Bureau believes that the utility of the overall Consumer 
Complaint Database would greatly increase with the inclusion of 
narratives. This could lead to increased use by advocates, academics, 
the press, and entrepreneurs, which itself would lead to increased 
consumer contacts with the Bureau.
    The Bureau believes that the aforementioned increase in benefits 
and utility would lead to an increase in consumer contacts, which would 
have a positive effect on Bureau operations. As a critical mass of 
complaint data is achieved and exceeded, the representativeness of 
Bureau complaint data increases. Thus, narratives would not only 
enhance the above consumer benefits but also the many Bureau functions 
that rely, in part, on complaint data to perform their respective 
missions including the Offices of Supervision, Enforcement, and Fair 
Lending, Consumer Education and Engagement, and Research, Markets, and 
Rulemaking.
    The Bureau balances interested parties' desire to have additional 
time to consider the issues raised in the Proposed Policy Statement, 
gather data, and prepare their responses, with the need to proceed 
expeditiously to consider comments and determine whether to issue a 
final policy statement. The Bureau believes that a 60-day extension is 
appropriate. The comment period therefore will close on September 22, 
2014.

    Dated: July 29, 2014.
Elizabeth A. Corbett,
Deputy Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2014-18355 Filed 8-1-14; 8:45 am]
BILLING CODE 4810-AM-P