The Dodd-Frank Act requires the CFPB to share consumer complaint information with the Federal Trade Commission (“FTC”) and other state and federal agencies. Last August, the Bureau took the first step towards fulfilling this mandate by signing an agreement with the FTC that allows the CFPB to access consumer complaints in the FTC’s Consumer Sentinel system.
Consumer Sentinel is an online database of consumer complaints maintained by the FTC that helps law enforcement track and respond to consumer complaints.
Recently, the Bureau started sharing its complaints with Consumer Sentinel. The database is accessible only to law enforcement, and adding the CFPB’s complaint data to the database will increase its effectiveness as a law enforcement tool.
Many entities, both government and non-government, already share complaints with Consumer Sentinel. Among the government entities are several state Attorneys General (including Idaho, Michigan, Mississippi, North Carolina, Ohio, Oregon, Tennessee, and Washington State), the U.S. Postal Inspection Service, and the FBI’s Internet Crime Complaint Center.
Our goal in sharing complaints with the FTC is to remove artificial barriers that stand in the way of efficient, transparent, and effective governance. By removing these barriers, we are encouraging agencies to work together to better protect American consumers. We are excited about our collaboration with the FTC, and we look forward to maintaining a close and fruitful partnership.