From: The Honorable Matt Salmon
Bill: H.R. 5413
Cosponsor the CFPB Data Accountability Act
Supported by the National Council of Higher Education Resources
Since the establishment of the Consumer Financial Protection Bureau (CFPB), Congress has debated many proposals to improve access to financial information, improve oversight, and mitigate the adverse consequences of the Dodd-Frank Act. The CFPB subsequently established a consumer complaint database that tried to gather complaint data and attempted to present it in an easy-to-access format for the American people.
Unfortunately, the current database is disorganized and does little to provide the American people with information to inform their decision-making. Under federal law, the CFPB has a responsibility to provide accurate information about potentially troublesome
consumer financial institutions.
My bill is a simple fix. It would improve the current database by requiring the CFPB to verify the facts of each complaint and present this information in an aggregated format and in context, so that consumers have better access to CFPB-collected data and
can make better financial decisions. This is an important bill that will improve accountability for the CFPB data-collection process and provide consumers with accurate, easily accessible information so that they can make better financial decisions. For more
information or to cosponsor this bill, please contact Ebbie Yazdani at
firstname.lastname@example.org or 202-225-2635.
Member of Congress