Alert March 20, 2012

CFPB Launches Auto and Installment Loan Complaint System

The CFPB has launched the first phase of its new auto and other installment loans complaint system, with a focus on loans made by large banks.  The CFPB will forward all complaints to the appropriate financial institutions for review and resolution.  Presently, complaints against nonbanks and small banks will be forwarded to another federal agency.  Click here for the CFPB press release and here for the online complaint system.