ARTICLE
14 February 2013

Consumers Have Another Channel To Make Complaints

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Foley & Lardner

Contributor

Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
Consumers questions and complaints about consumer financial products and services can now be directed via a new non-emergency "hotline".
United States Consumer Protection

Many cities and municipalities have non-emergency "hotlines" designed to provide access to non-urgent municipal services (e.g., tree trimming, dead animal removal, sidewalk repair). As of yesterday, this list of services has expanded to consumer questions and complaints about consumer financial products and services, at least in Newark, New Jersey. The Bureau announced that it is teaming up with the municipality to connect consumers with the Bureau's Office of Consumer Response. Newark consumers can now simply dial the local 4311 hotline and, voila!, they will be connected with the Bureau.

Does this development raise UDAAP concerns? You bet! Consumer complaints are a key source of information and a potential jumping off point for Bureau investigations. Indeed, in connection with the Bureau's announcement of this new program, Director Cordray invoked UDAAP sentiments when he said that "[t]he CFPB's job is to help consumers navigate the often confusing financial marketplace and to hold financial institutions accountable."

Tip of the day: keep a close eye on any complaint channel you have access to (e.g., internal, internet, etc.).

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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