Today,
CUNA filed a letter
with the Bureau on its request to the Office of Management and Budget (OMB)
regarding the Consumer Complaint Intake System.
The
Dodd-Frank Act requires the Bureau to facilitate the centralized collection of,
monitoring of, and response to consumer complaints regarding consumer financial
products or services. In furtherance of its statutory mandate related to
consumer complaints, the Bureau utilizes a Consumer Complaint Intake System
Company Portal Boarding Form (Boarding Form) to sign up companies for access to
the secure, web-based Company Portal. The Company Portal allows companies to
view and respond to complaints submitted to the Bureau, supports the efficient
routing of consumer complaints to companies, and enables a timely and secure
response by companies to the Bureau and consumers. The Bureau has requested
approval by the OMB to renew the information collection associated with the
Company Portal.
While
we have not heard specific complaints regarding the Boarding Form—which is
unsurprising since only a handful of credit unions utilize the Form—we ask the
Bureau to regularly assess the complaint system overall to identify
opportunities to decrease unnecessary compliance burden and increase efficiency
and effectiveness. As part of the Bureau’s review, we encourage it to 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.