Some people have turned complaining into an obnoxious art form, and if you’re not one of them, you’re probably fairly happy not to be. Who wants to be a whiner, after all? But there are times when being able to effectively air your grievances is a necessary skill. Whining about your lack of money probably won’t help change the situation, but if a bank or financial institution has mistreated you, then you need to know how to complain in a way that gets things done.
Or, more to the point, you need to know who to complain to.
The 2010 Dodd-Frank Act established the Consumer Financial Protection Bureau to protect people from financial institutions’ shady practices (among other things). The bureau writes rules, supervises companies and fines offenders. The money it takes in from fines is largely returned to the victims.
But the bureau’s most useful service for Americans is acting on their behalf to get action on their complaints. The CFPB publishes consumer complaint data in an effort to increase transparency about American financial institutions. Information includes details about the most complained-about banks, products, credit bureaus, branches and credit cards.
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