2.6: Consumer Complaints

Conduct work on the Bureau's approach to collecting, researching, and responding to consumer complaints.

Other Information:

The Dodd-Frank Act requires that the Bureau establish a consumer complaints response function that includes a single, toll-free telephone number; a website; and a database to facilitate centrally collecting, monitoring, and responding to consumer complaints regarding consumer financial products and services. In addition, the consumer complaint response unit must coordinate and share information with the FTC and other federal and state agencies to appropriately respond to consumer complaints. The Director of the Bureau must annually report to Congress on the consumer financial products and services complaints that the agency received in the prior year. As the Bureau develops its consumer complaints response function, the procedures and practices established to handle complaints will be critical to ensuring that the appropriate agency addresses complaints efficiently and adequately. We will conduct reviews to ensure that the Bureau establishes processes and controls to properly collect, research, monitor, respond to, and track consumer complaints. The OIG will review the operations of the Bureau's response function, which includes the toll-free telephone number, the website, and the complaint database. In addition, the OIG will assess the information sharing process among the Bureau, the FTC, and other federal and state agencies to determine whether complaints are properly routed and disseminated. Our work in this area will ensure the complaint function meets the requirements of the Dodd-Frank Act, including the annual report to Congress.

Stakeholder(s):

• Consumers

Indicator(s):

Indicator:1

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