It appears that the CFPB’s new credit card complaint system is experiencing hiccups in routing some complaints to banks, according to Bloomberg.
The month-old complaint response system has failed to properly route all inquiries, a problem bureau spokeswoman Jen Howard said the agency will resolve “within a matter of weeks.” Howard didn’t say how many complaints have been held up.
Continued coverage from Bloomberg’s story:
Some banks found that their volume of complaints dropped as the bureau’s system failed to work properly, said Richard Hunt, head of the Consumer Bankers Association. The banks were concerned they might be blamed for unanswered queries, he said.
“If you’re a bank, you don’t know there has been a complaint unless the CFPB tells you,” Hunt said in an interview.




