Financial Protection

CFPB implements recommendations to improve consumer user experience

A new report documents the ways the Consumer Financial Protection Bureau (CFPB) has incorporated feedback.

CFPB | Public Domain

The Consumer Financial Protection Bureau (CFPB) Ombudsman’s Office made available to the public its 10th annual report this week. The Ombudsman’s Office provides an independent and confidential avenue for consumers and marketplace actors to resolve issues with the CFPB and ensure a fair process with the agency. In short, it exists to hold the CFPB accountable and make it even more responsive to consumers.

The report recapped numerous issues, initiatives, and feedback brought forth by the Ombudsman’s Office. Examples include:

  • The CFPB launched user testing sessions of its website this year, which the Ombudsman’s Office listened in on and provided feedback for the CFPB’s consideration.
  • After the CFPB added Frequently Asked Questions to its “Submit a complaint” webpage earlier this year, the Ombudsman’s Office suggested adding “virtual currency” to the list of consumer financial products and services consumers can submit complaints about to the CFPB. In response, the CFPB added it to the FAQ in October. 
  • The CFPB Ombudsman’s Office launched a survey in FY2022 to collect feedback from companies that have been examined by the CFPB, which has been provided to the agency.
  • In response to the Ombudsman’s office pointing out that the agency’s Consumer Guides who answer calls from the public did not have information on Buy Now Pay Later to provide consumers, the CFPB ensured the information was made available.
  • The CFPB also implemented recommendations by the Ombudsman’s Office to regularly review the resources available on the “Contact Us” webpage to ensure they are current and updated accordingly. 

The public can reach the Ombudsman in the following ways:

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