American Bankers Assoc. Calls CFPB Database a “Questionable Resource”

What's Next In Payments®
4:52 PM EDT June 20th, 2012

The American Bankers Association called the Consumer Financial Protection Bureau’s new consumer complaint database “a questionable – even misleading – resource” in its official statement on the matter.

“Publishing allegations is often different than publishing facts,” writes ABA Executive Vice President Kenneth Clayton. “Publicizing allegations that may or may not have any basis in fact raises serious questions about the balanced review we expect from our government agencies. It feeds the perception that the Bureau wishes to politicize the process rather than analyze the facts involved.”

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