CFPB Complaints

The short version

If you have a problem with a financial product or service, you can file a complaint with the Consumer Financial Protection Bureau (CFPB). The CFPB helps you tell your story to the company and gets a response. This process helps you resolve issues and helps the CFPB watch for unfair practices.

The law this is built on

Every point below comes from the authority named next to it. Verify the current text before relying on it.

12 U.S.C. § 5493(b)(3)
This law states that the CFPB Director must create a way for consumers to submit complaints about financial products and services. It also requires the CFPB to share these complaints with the companies involved and with other regulators.
Why it matters: This means you have a legal right to file a complaint with the CFPB, and the CFPB must take action to process it and share it with the relevant company and government agencies.

Words you need to know

Consumer Financial Protection Bureau (CFPB): A U.S. government agency that works to make sure banks, lenders, and other financial companies treat you fairly.
Complaint: A formal statement you make to the CFPB about a problem you had with a financial product or service, like a credit card, mortgage, or student loan.
Financial Product or Service: Things like credit cards, mortgages, auto loans, bank accounts, student loans, or debt collection services.
Company Response: After you file a complaint, the CFPB sends it to the company, and the company must respond directly to you and to the CFPB.
Public Database: The CFPB keeps a public database of complaints, removing your personal information, so others can see common issues and company responses.

Your rights

✓You have the right to file a complaint with the CFPB about financial products or services.
✓The CFPB must forward your complaint to the company you are complaining about.
✓The company must respond to your complaint.
✓You have the right to get a response directly from the company.
✓Your complaint, with personal details removed, may be added to a public database.

How the process actually works

1
Gather Information
Before you file
Collect all details about your complaint, including company name, account numbers, dates, and what happened. Have any supporting documents ready.
2
Submit Complaint
Any time after the problem occurs
Go to the CFPB's website or call them to submit your complaint. You will describe the issue and what you want to happen.
3
CFPB Reviews
Within a few days of submission
The CFPB will review your complaint to make sure it's complete and about a financial product or service they oversee. (12 U.S.C. § 5493(b)(3))
4
CFPB Forwards
Typically within 15 days of CFPB review
The CFPB sends your complaint to the company you named. The company is expected to respond.
5
Company Responds
Typically within 15 days, sometimes up to 60 days for a full response
The company reviews your complaint, works to resolve the issue, and sends a response to you and to the CFPB.
6
You Review Response
Within 30 days of receiving the company's response
You check the company's response and provide feedback to the CFPB. You can tell them if you are satisfied or not.

Deadlines that can end your case

Company response to CFPB complaint
15 days for initial response; up to 60 days for a complete response
This is the company's internal deadline set by the CFPB, not a deadline for you. If the company misses it, the CFPB may follow up.
Your feedback on company response
30 days
If you don't provide feedback within 30 days, the CFPB closes your complaint. You can always submit a new complaint if needed.

Costly mistakes

✕Not including enough detail or supporting documents in your complaint.
✕Having unrealistic expectations about what the CFPB can do (they facilitate, not always resolve in your favor).
✕Not responding to the CFPB or company if they ask for more information.
✕Filing a complaint about a product or service the CFPB doesn't oversee.
✕Waiting too long to file, making it harder for the company to investigate or for you to pursue other legal options.
✕Getting angry or rude in your complaint, which can hinder resolution.

Your checklist

Identify the financial product or service involved.
Gather all relevant account numbers, dates, and names.
Collect supporting documents (statements, letters, emails).
Clearly describe what happened and what you want to happen.
Visit the CFPB website (consumerfinance.gov) to start your complaint.
Review the company's response when you receive it.
Provide your feedback to the CFPB on the company's response.
Keep records of all communication.

Common questions

What kind of problems can I complain about to the CFPB?

You can complain about most financial products and services, like mortgages, credit cards, bank accounts, auto loans, student loans, and debt collection. The CFPB's role is to handle complaints related to financial consumer protection laws. (12 U.S.C. § 5493(b)(3))

Will the CFPB resolve my issue or get my money back?

The CFPB forwards your complaint to the company and works to get a response. While many complaints are resolved this way, the CFPB doesn't act as your lawyer or guarantee a specific outcome or money back. They ensure your complaint is heard.

What happens if the company doesn't respond?

If a company fails to respond or respond adequately, the CFPB may follow up with them. Your complaint (with personal data removed) may also be visible in the public complaint database, which can encourage companies to resolve issues.

Can I file a complaint anonymously?

You can provide feedback to the CFPB about financial companies anonymously. However, to file a formal complaint that gets sent to the company and requires their response, you must provide your contact information. Your personal details are not made public in the database. (12 U.S.C. § 5493(b)(3))

Does filing a complaint stop other legal deadlines?

No, filing a complaint with the CFPB generally does not stop other legal deadlines, such as those for filing a lawsuit or pursuing arbitration. It is a separate process.

How this changes by state

The CFPB is a federal agency, so its complaint process is generally the same across all states. However, individual states may have their own consumer protection agencies or laws that cover additional financial products or services not overseen by the CFPB. You can typically find your state's consumer protection office by searching online for '[Your State] consumer protection' or '[Your State] attorney general consumer complaints.'

When you need a lawyer

You should consider contacting a lawyer if your issue is complex, involves a large amount of money, or if you believe the company violated specific laws and the CFPB complaint process didn't resolve it. A lawyer can advise you on your legal rights and options beyond the CFPB complaint system.

Do this today

→Visit consumerfinance.gov to learn more about the types of complaints the CFPB handles.
→Gather all documents and information related to your financial issue.
→Prepare a clear, factual summary of your problem and what you want to achieve.

This lesson is legal information for educational purposes only, based on 12 U.S.C. § 5493(b)(3). It is not legal advice and does not create an attorney-client relationship.