AFSA Supports Eliminating Fraud in CFPB’s Complaint Database
AFSA supports Financial Institutions Subcommittee Chair Andy Barr’s (R-KY) legislation, “Eliminating Fraud in the CFPB’s Complaint Database Act” (HR 7588). The bill mandates that complaints submitted to the CFPB database must be true and accurate, and must be submitted directly by the consumer or by an authorized representative with sufficient proof of identification.
The legislation stipulates that the consumer must inform the company being complained about at least 60 days prior to submitting the complaint to the CFPB. The bill also allows companies receiving complaints to close them without further action if they are duplicative, frivolous or without factual basis, intended to mislead, or if the company had previously been informed of the issue and resolved it. Companies must notify the CFPB of the closure and reason for the closure of any complaint dealt with under these provisions.
The bill also states that the specific details of complaints will remain private and not publicly accessible, although aggregated data may be published without personal identifying information.
AFSA has long been in favor of the CFPB’s database being taken off-line and supports HR 7588 for its important reforms to the CFPB database. AFSA will continue to work with Chairman Barr and others to support this legislation.
March 26th, 2026
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