Last December, we opened the Ombudsman’s Office to assist in resolving individual and systemic process issues, that a consumer or provider of consumer financial products and services has with the CFPB, by advocating for a fair process. This first report shares how we set up the office and describes, in a summary way, who reached out to us since the office opened and why. It talks about our informal feedback to the CFPB throughout the year. It discusses the systemic issues we reviewed that affect both consumers and providers of consumer financial products and services, our recommendations to the CFPB, and the CFPB’s responses. We also highlight plans for the coming year.
We are especially excited about this report because it is our first. Let us know what you think at CFPBOmbudsman@cfpb.gov.
Wendy Kamenshine is the Ombudsman for the Consumer Financial Protection Bureau.