Could CFPB Require Banks to Manage Complaint Databases?

By  |  May 10, 2012
 | 

Scott Feinstein, a senior vice president and legal counsel at Sovereign Bank, thinks the Consumer Financial Protection Bureau may eventually require banks to manage their own consumer complaint databases, according to American Banker.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Surprisingly, most banks don’t have a central [complaint] database … I think the CFPB will expect that,” Feinstein said during a panel discussion at the annual Card Forum and Expo.

    Read the full story here.

    Also: House Democrats Introduce Bill To Limit Overdraft Fees (American Banker)


    See More In: