The decision by the Consumer Financial Protection Bureau to publish consumer complaints online, which lenders initially criticized, has yet to result in any major outcry.

The CFPB announced in 2012 that it would make consumer complaints about mortgages and other financial topics public through an online database, but said the complaints would not be validated before publication. The complaints would include the lender's name and nature of the complaint, even though they weren't yet verified.

However, initial concerns expressed by lenders have faded since the CFPB began publishing the complaints in April because the complaints provide only general information about consumer dissatisfaction.

"It’s vague at best," said Ballard Spahr partner Christopher Willis. "It’s not all that detailed."

Related Practices

Consumer Financial Services
Mortgage Banking