The Consumer Financial Protection Bureau (CFPB) announced the receipt of its 10 millionth complaint from consumers against financial services companies.
In an online video CFPB Director Rohit Chopra called the occasion a “big milestone” while stressing it meant more than reaching a numeric goal.
“This isn’t just a number, it’s people across America speaking up to take action to fix their credit report or problem with a lender, bank or other financial services company,” Chopra said. “And the CFPB is helping people get answers. Our process is a powerful tool, helping people hold companies accountable and ensure that everyone is treated fairly. Your complaints help us spot trends and even take action against bad actors that have broken the law. Every complaint matters and every voice counts.”
The CFPB was launched in 2011, and the presence of Chopra – an ally of Sen. Elizabeth Warren – as the messenger of this news might strike some as unusual, considering that he was a Biden administration appointment who replaced Kathy Kraninger, who was the CFPB’s director in the first Trump administration. Unlike many other Biden appointees, Chopra did not resign from his position with the arrival of the new Trump presidency, and the White House has yet to announce if a replacement for Chopra is going to be named.
