On August 14, the CFPB announced that it will no longer publish consumer complaint narratives and related data visualizations in its Consumer Complaint Database. The Bureau characterized publication of these materials as discretionary and explained that consumer narratives contain unverified allegations that may not reflect violations of law or provide a representative picture of a company’s conduct.
According to the CFPB, complaint narratives present individual consumers’ accounts without independently verifying the underlying allegations. The Bureau stated that publishing the narratives can create a misleading view of companies’ compliance because the database reflects consumers reporting negative experiences rather than a representative sample of customer interactions. The CFPB also cited potential reputational harm to companies as a reason for ending the practice.
Previously published narratives will remain publicly accessible through the CFPB’s FOIA Reading Room. Although the Bureau is discontinuing publication of narratives and visualizations in the Consumer Complaint Database, it will continue to collect and monitor consumer complaints, assess whether companies provide complete, accurate, and timely responses, and share complaint information with prudential regulators, the FTC, and other federal and state agencies.
Putting It Into Practice: The change should reduce the public visibility of individualized allegations against financial services companies and may lessen the reputational consequences associated with unverified complaint narratives. At the same time, companies should not interpret the announcement as reducing the regulatory significance of their complaint-management programs. The CFPB will continue to receive complaints, evaluate company responses, and share complaint information with other regulators.