CFPB Complaint Database Stokes Banks' Lawsuit Fears
Richmond partner and Financial Services Litigation practice group co-leader David Anthony was recently quoted in a Law360 article:
"The
Consumer Financial Protection Bureau on Thursday released a wealth of new consumer complaint information from a public database that banks fear will provide an incomplete and inaccurate view of their customer service and potentially
expose them to lawsuits and regulatory actions," the article states in its opening.
"The release of over 90,000 complaints related to credit cards, mortgages, private student loans, consumer credit reports and other consumer financial transactions marked a vast expansion of the CFPB's existing consumer
complaint database, which was released to the public in June. The CFPB said the database would now be available for public use and research, as well as distribution through social media channels."
To read Anthony's quotes and view the full article, visit here.