Key facts
- The CFPB will stop publishing unverified consumer complaint narratives and data visualizations.
- The agency stated that these narratives reflect negative consumer experiences and present only one side of an issue.
- The CFPB does not independently verify the allegations in complaint narratives.
- Previously published narratives will remain available through the CFPB's Freedom of Information Act Reading Room.
- The CFPB will continue collecting and monitoring consumer complaints and sharing data with regulators.
The Consumer Financial Protection Bureau (CFPB) announced on Monday that it will discontinue the publication of unverified consumer complaint narratives and associated data visualizations within its consumer complaint database. The agency stated that these narratives, which reflect negative consumer experiences, present only one side of an issue and do not necessarily allege violations of law, potentially leading to consumer confusion and unwarranted harm to companies' reputations.
The CFPB clarified that the publication of these narratives has always been discretionary and that years of experience have shown limited public value. The bureau emphasized that it does not independently verify the allegations contained within each narrative. Consequently, publishing them can create a skewed perception of a company's compliance with legal requirements.