[Federal Register Volume 83, Number 74 (Tuesday, April 17, 2018)]
[Notices]
[Pages 16839-16841]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-07943]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2018-0014]
Request for Information Regarding the Bureau's Consumer Complaint
and Consumer Inquiry Handling Processes
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for information.
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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is
seeking comments and information from interested parties to assist the
Bureau in assessing its handling of consumer complaints and consumer
inquiries and, consistent with law, considering whether changes to its
processes would be appropriate.
DATES: Comments must be received by July 16, 2018.
ADDRESSES: You may submit responsive information and other comments,
identified by Docket No. CFPB-2018-0014, by any of the following
methods:
Electronic: Go to http://www.regulations.gov. Follow the
instructions for submitting comments.
Email: [email protected]. Include Docket
No. CFPB-2018-0014 in the subject line of the message.
Mail: Comment Intake, Consumer Financial Protection
Bureau, 1700 G Street NW, Washington, DC 20552.
Hand Delivery/Courier: Comment Intake, Consumer Financial
Protection Bureau, 1700 G Street NW, Washington, DC 20552.
Instructions: The Bureau encourages the early submission of
comments. All submissions must include the document title and docket
number. Please note the number of the topic on which you are commenting
at the top of each response (you do not need to address all topics).
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 1700 G Street
NW, Washington, DC 20552, on official business days between the hours
of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to
inspect the documents by telephoning 202-435-7275.
All submissions in response to this request for information,
including attachments and other supporting materials, will become part
of the public record and subject to public disclosure. Proprietary
information or sensitive personal information, such as account numbers
or Social Security numbers, or names of other individuals, should not
be included. Submissions will not be edited to remove any identifying
or contact information.
FOR FURTHER INFORMATION CONTACT: Darian Dorsey, Deputy Assistant
Director, Office of Consumer Response, at 202-435-7268. If you require
this document in an alternative electronic format, please contact
[email protected].
SUPPLEMENTARY INFORMATION: An important aspect of the Bureau's mission
is hearing directly from the American public about their experiences in
the consumer financial marketplace. Pursuant to 12 U.S.C. 5511(c)(2),
``collecting, investigating, and responding to consumer complaints'' is
one of the six statutory ``primary functions'' of the Bureau. In
addition, ensuring that ``consumers are provided with timely and
understandable information to make responsible decisions about
financial transactions'' is one of its six enumerated objectives.\1\
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\1\ 12 U.S.C. 5511(b)(1).
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In furtherance of these statutory mandates, the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd-Frank Act) requires the
Bureau to establish a unit to ``facilitate the centralized collection
of, monitoring of, and response to consumer complaints regarding
consumer financial products or services'' \2\ and directs the Bureau to
establish reasonable procedures to provide timely responses to consumer
complaints and consumer inquiries.\3\ The Bureau defines consumer
complaints as ``submissions that express dissatisfaction with, or
communicate suspicion of wrongful conduct by, an identifiable entity
related to a consumer's personal experience with a financial product or
service.'' \4\ To date, the Bureau has not published its definition of
consumer inquiries; however, as an operational matter for the purposes
of establishing reasonable procedures for providing timely responses to
consumer inquiries and for the purposes of this request for
information, the Bureau defines consumer inquiries as consumer requests
for information--typically proffered by telephone--to its Office of
Consumer Response about consumer financial products or services, the
status of a complaint, an action taken by the Bureau, and often
combinations thereof.\5\
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\2\ The Bureau's Office of Consumer Response (``Consumer
Response'') serves these and other functions. 12 U.S.C.
5493(b)(3)(A).
\3\ 12 U.S.C. 5534(a).
\4\ Consumer Financial Protection Bureau, Consumer Response
Annual Report (Mar. 2012), available at http://files.consumerfinance.gov/f/201204_cfpb_ConsumerResponseAnnualReport.pdf.
\5\ 12 U.S.C. 5511(b)(1) authorizes the Bureau to ensure that,
with respect to consumer financial products and services,
``consumers are provided with timely and understandable information
to make responsible decisions about financial transactions''; some
of this work occurs in the consumer complaint and inquiry processes
performed within the Office of Consumer Response.
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Since it began accepting consumer complaints and consumer inquiries
in July 2011, the Bureau has established reasonable procedures to
provide consumers with timely responses to their complaints and
inquiries, in writing where appropriate.\6\ To date, the Bureau has
received more than 1.5 million consumer complaints. The consumer
complaint process seeks to provide consumers with timely responses to
their complaints, while the consumer inquiry process aims to provide
timely answers to consumers who submit inquiries. Both processes
support the Bureau's statutory objective to provide consumers with
timely and understandable information about consumer financial products
and services to make responsible decisions. To that end, the Bureau has
established reasonable procedures for responding to both consumer
complaints and consumer inquiries.
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\6\ 12 U.S.C. 5534(a).
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Though the Bureau is required to establish reasonable procedures to
provide timely responses to consumer complaints and consumer inquiries,
certain aspects of the complaint and inquiry handling processes were
developed in furtherance of those statutory requirements but are not
directly mandated by statute. Mindful of the Bureau's statutory
objective to provide consumers with timely and understandable
information about consumer financial products and services so they can
make responsible decisions, as well as its statutory obligations to (1)
establish reasonable procedures to provide consumers with timely
responses and (2) centralize the collection of consumer complaints
about consumer financial products or
[[Page 16840]]
services, the Bureau has used feedback from a variety of stakeholders
to establish and refine its processes over time to improve
stakeholders' experience, handle large volumes of complaints and
inquiries,\7\ and increase overall efficiency.
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\7\ In 2017, the Bureau received more than 500,000 consumer
complaints and consumer inquiries.
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Consumer Complaint Process. To ``facilitate the centralized
collection of, monitoring of, and response to consumer complaints
regarding consumer financial products or services,'' the Bureau accepts
complaints through its website; by referral from the White House,
congressional offices, Federal agencies, and State agencies; and by
telephone, mail, email, and fax. When consumers \8\ choose to submit
complaints, the Bureau's complaint form prompts them to select the
consumer financial product or service with which they have a problem as
well as the type of problem they are having with that product or
service. This provides information that can be used to group complaints
to understand the financial products and services about which consumers
complain to the Bureau. The complaint form also requires consumers to
affirm that the information provided in their complaint is true to the
best of their knowledge and belief. The Bureau routes complaints about
consumer financial products and services directly to financial
companies and works with them to get consumers a timely response from
the company, generally within 15 days. Where appropriate, complaints
are routed to other Federal agencies.\9\ The company reviews the
information, communicates with the consumer as needed, and determines
what action to take in response. The company then responds to the
consumer and the Bureau in writing via the secure company portal, and
the Bureau invites the consumer to review the company's response and
provide feedback about the response received from the company.
Consumers can log onto the secure consumer portal available on the
Bureau's website or call the Bureau to receive status updates, provide
additional information, and review responses provided by the company.
In 2017, the Bureau handled more than 320,000 consumer complaints.\10\
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\8\ The term `consumer' means an individual or an agent,
trustee, or representative acting on behalf of an individual.'' 12
U.S.C. 5481(4)
\9\ The Bureau refers or sends complaints to another regulator
when, for example, a particular complaint does not involve a product
or service currently handled by the Bureau.
\10\ Consumer Financial Protection Bureau, Consumer Response
Annual Report (Apr. 2018), available at https://www.consumerfinance.gov/documents/6406/cfpb_consumer-response-annual-report_2017.pdf.
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Consumer Inquiry Process. The Bureau's single, toll-free telephone
number \11\ gives consumers the opportunity to ask questions about
financial products or services, submit a complaint, and check the
status of a complaint. Consumers can also inquire about the Bureau and
a subset of its recent actions. When consumers call with an inquiry
about consumer financial products or services, a Bureau representative
collects basic information about the consumer, listens to the consumer
describe their situation and question, and provides clear, unbiased
educational information about financial products and services.
Representatives do not provide legal advice to consumers, nor do they
encourage consumers to take any particular action. Instead, when
appropriate, representatives direct consumers to Bureau educational
materials and tools, and other relevant government resources. The
Bureau's U.S.-based contact center provides services to consumers in
more than 180 languages and to consumers who are deaf, have hearing
loss, or have speech disabilities. In 2017, the Bureau received more
than 200,000 consumer inquiries.
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\11\ 12 U.S.C. 5493(b)(3)(A).
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Overview of This Request for Information
The Bureau is using this request for information (RFI) to seek
public input regarding potential changes that can be implemented to the
Bureau's consumer complaint and inquiry handling processes, consistent
with law, to consider whether any changes to existing practices would
be appropriate given the Bureau's statutory objective to provide
consumers with timely and understandable information about consumer
financial products and services to make responsible decisions as well
as its statutory obligations to (1) establish reasonable procedures to
provide timely responses to consumers and (2) centralize the collection
of consumer complaints regarding consumer financial products or
services. The Bureau encourages comments from all interested members of
the public, including financial industry participants, government
agencies, academic and research organizations, consumer advocacy and
financial education groups, trade associations, and consumers.
The Bureau previously issued an RFI seeking public input regarding
potential changes that can be implemented to the Bureau's public
reporting practices of consumer complaint information, consistent with
law, to consider whether any changes to the practices would be
appropriate.\12\ The Bureau will consider for the purposes of this RFI,
and to the extent relevant, all comments previously received in
connection with that request. Respondents, therefore, should not feel
any obligation to include in their responses to this RFI suggestions
and comments already submitted in response to the call for evidence on
public reporting practices of consumer complaint information.
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\12\ Request for Information Regarding Bureau Public Reporting
Practices of Consumer Complaint Information, 83 FR 9499 (March 6,
2018).
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Suggested Topics for Commenters
To allow the Bureau to evaluate suggestions more effectively, the
Bureau requests that, where possible, comments include:
Specific discussion of the positive and negative aspects
of the Bureau's complaint and inquiry processes;
Specific suggestions regarding any potential updates or
modifications to the Bureau's complaint and inquiry processes,
consistent with the law and given one of the Bureau's statutory
obligations is to establish reasonable procedures to provide consumers
with timely responses to complaints and inquiries, including, in as
much detail as possible, the nature of the modification, and supporting
data or other information on impacts and costs;
Specific best practices for complaint and inquiry
processes given the Bureau's statutory objectives and functions,
including ensuring consumers are provided with timely and
understandable information to make responsible decisions about
financial transactions \13\ and centralizing the collection of consumer
complaints about consumer financial products or services.
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\13\ 12 U.S.C. 5511(b)(1).
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The following represents a preliminary attempt by the Bureau to
identify elements of the Bureau's complaint and inquiry processes on
which commenters may want to comment. This non-exhaustive list is meant
to assist in the formulation of comments and is not intended to
restrict the issues that may be addressed. In addressing these issues
and questions, the Bureau requests that commenters identify with
specificity the complaint or inquiry processes feature at issue,
providing legal citations where appropriate and available.
[[Page 16841]]
The Bureau is seeking feedback on all aspects of its consumer
complaint and inquiry handling processes, including:
1. Specific statutorily-permissible suggestions regarding how the
Bureau currently allows consumers to submit complaints and inquiries,
including:
a. Should the Bureau require consumers to classify their submission
affirmatively as a consumer complaint or inquiry prior to submission?
b. How should the Bureau explain the difference between a consumer
complaint and a consumer inquiry to consumers at the point of
submission?
c. Should the Bureau develop a process for companies to reclassify
consumers' submissions? If so, what criteria should the Bureau
establish to help companies differentiate consumer complaints from
consumer inquiries?
2. Specific statutorily-permissible suggestions regarding the
Bureau's consumer complaint processes, including:
a. The Bureau currently receives complaints via six channels:
Website, referral from Federal and State entities/agencies, telephone,
mail, fax, and email. Should the Bureau add or discontinue any channels
for accepting complaints?
b. Consistent with the Dodd-Frank Act's definition of ``consumer,''
the Bureau currently allows consumers to authorize someone else (e.g.,
lawyer, advocate, power of attorney) to submit complaints on their
behalf. Should the Bureau expand, limit, or maintain the ability of
authorized third parties to submit complaints?
3. Specific statutorily-permissible suggestions regarding the
Bureau's consumer inquiry processes, including:
a. The Bureau currently accepts consumer inquiries via telephone
and mail. Should the Bureau add or discontinue any channels for
accepting inquiries?
b. Should the Bureau develop web chat systems to support consumers'
submission of inquiries?
c. Should the Bureau develop a process for companies to provide
timely responses to consumer inquiries sent to them by the Bureau? If
so, how should the Bureau balance its objective of providing timely and
understandable information to consumers \14\ with its objective of
reducing unwarranted regulatory burden on companies? \15\
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\14\ 12 U.S.C. 5511(b)(1).
\15\ 12 U.S.C. 5511(b)(3).
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d. Should the Bureau publish data about consumer inquiries? If so,
what types of data or analyses about consumer inquiries should be
shared with the public?
Authority: 12 U.S.C. 5511(c).
Dated: April 10, 2018.
Mick Mulvaney,
Acting Director, Bureau of Consumer Financial Protection.
[FR Doc. 2018-07943 Filed 4-16-18; 8:45 am]
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