American Banker
Many Americans have felt the frustration of getting the runaround from a customer service agent or finding an unhelpful recording at the end of a financial company’s complaint line. When someone has been cheated out of money and their family’s well-being is at stake, this experience is more than an annoyance — it’s an injustice that for too long left people with little recourse. That is, until 2011 when the Consumer Financial Protection Bureau launched the consumer complaint database, which documents and helps people resolve disputes with financial companies.
CBS MoneyWatch
Kathy Kraninger, the president's nominee to head the main federal agency tasked with protecting consumers from financial abuse, failed to sway Democrats after a three-hour hearing before the Senate Banking Committee.