CFPB Ombudsman’s Office Publishes Fiscal Year 2017 Annual Report

Consumer Finance CFPB Consumer Complaints

The CFPB’s Ombudsman’s Office published its annual report to the Director for fiscal year 2017, entitled Advocating for Fair Process in Consumer Financial Protection. The December 6 report details Ombudsman initiatives undertaken in 2017 and highlights the Bureau’s selection as one of four case studies in a December 2016 study by the Administrative Conference of the United States (ACUS) on the use of ombudsmen in federal agencies. Specifically, the Bureau’s report focuses on systemic reviews concerning the following: (i) the accessibility of CFPB print materials for different groups of people; (ii) the telephone entry point for non-consumers; (iii) the documenting and standardizing of ex parte communications regarding proposed rules; and (iv) the implementing of improvements to the way consumers select categories when identifying issues with companies in the consumer complaint database.

The Ombudsman’s report also outlines strategic goals for the next two years, including, among other things, (i) addressing CFPB process issues facing consumers, financial entities, and trade groups; (ii) optimizing resources for effective assistance; and (iii) expanding educational efforts and engagement with stakeholders, in addition to implementing best practices to convey feedback.