On July 13, CUNA filed a letter in response to the Consumer Financial Protection Bureau’s request for comment on the Consumer Complaint Intake System.

In their letter, CUNA urged the Bureau to take steps to reduce the number of non-substantive and meritless complaints contained in the Bureau’s consumer complaint database.  CUNA pointed out that unsubstantiated complaints levied towards a credit union—especially those with undetermined authenticity—have a cost to the credit union and its members.  CUNA also asked the Board to reexamine its marketing of the complaint system to consumers.

In addition, CUNA provided input on the Bureau’s Consumer Complaint Intake System Company Portal Boarding Form.  While CUNA has not heard specific complaints regarding the Boarding Form, CUNA asked the Bureau to assess the complaint system to identify new opportunities to decrease unnecessary compliance burdens and increase efficiencies.  CUNA even suggested the Board should examine ways automated collection techniques or other forms of information technology can be incorporated into the complaint collection process to minimize the burden of the information collection on respondents.

A copy of CUNA’s letter can be found on CUNA’s website.