Regulation

CFPB partners with city of St. Louis to establish complaint hotline

cfpbThe CFPB and city of St. Louis, Mo., announced a partnership last week to connect consumers with the agency to submit complaints and ask questions about financial products and services.

“Our mission at the CFPB is to make it easier for consumers to navigate the complex consumer financial markets,” Director Richard Cordray said. “We are always looking for new ways to connect with consumers, and we are happy to work with Mayor Slay to better serve the residents of St. Louis.”

Consumers in St. Louis can dial the Citizens’ Service Bureau—a non-emergency line that connects citizens to city services—and be connected with the CFPB when they have issues related to financial products and services. City representatives will be available from 8 a.m. to 5 p.m., Monday through Friday.

The partnership is the latest effort by the agency to build its consumer complaint-reporting system. The agency handles consumer complaints on credit cards, mortgages, bank accounts, student loans, consumer loans, money transfers, debt collection and credit reporting.

Complaints submitted to the CFPB are screened for completion and to prevent duplication and then sent to the institution for review and response. Complaints are published in the consumer complaint database after the company responds or 15 days after they receive the complaint, whichever is first.

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