New Requirements for Consumer Financial Complaints and Enhanced Privacy Rules
This bill requires consumers to swear to the accuracy of their financial complaints under penalty of perjury and notify the company 60 days before involving the government. It also stops the public sharing of detailed complaint descriptions to better protect personal privacy.
Key points
Consumers must attest under penalty of perjury that all information in their complaint is true and accurate.
A 60-day waiting period is required after notifying the company before a formal complaint can be filed with the Bureau.
Companies can close duplicate, frivolous, or unauthorized complaints without taking further action.
Detailed personal stories and narratives in complaints will no longer be made public or viewable by the general population.
Status:
Introduced
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