A Realtor friend of mine recently asked me about the Consumer Financial Protection Bureau: “Do they really do anything when somebody submits a complaint about their mortgage company? Can I tell clients that it’s not a waste of time to complain to the CFPB?” Here’s what I said: The CFPB puts out numbers and reports on its complaint resolution activities -- the latest annual report came out March 31 -- detailing complaint volume, the names of the companies that are the subjects of complaints and the current status of each case. I have only one direct, personal experience with a complaint to the CFPB, so my frame of reference is limited. But the result was stunning. A little over a year ago, the son of a 91-year-old widow living in Lake Havasu City, Ariz., contacted me in a p...
Feb 25, 2014 by Ken Harney
Nov 18, 2013 by Andrea V. Brambila