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CFPB Accepts Credit Card Complaints

Now that the Consumer Financial Protection Bureau is officially up and running, complaints about credit card companies will be collected by one single government agency. While complaints are limited to credit cards at this time, the CFPB does plan to ramp up its efforts as more employees are hired to handle issues with debt collectors, student loans, mortgages, and more.

If you feel like you've been unfairly treated by your credit issuer, visit the CFPB's website and fill out the brief Credit Card Complaint Form. The CFPB will then forward your complaint to the credit card company, provide you with a tracking number, and keep you updated on the status.

Consumers have always been able to submit complaints about their credit cards to government agencies, but never have they received a tracking number or had a single regulator tracking the status of their complaints. The hope is of course that this new "cop on the beat" will result in consumer complaints actually receiving satisfactory responses from credit issuers.

on Tue, 2011-08-02 17:00