CUNA urged the Bureau of Consumer Financial Protection Friday to regularly assess its overall complaint system for compliance burden relief opportunities. CUNA wrote its letter in response to a bureau request to the Office of Management and Budget to renew information collection associated with its Company Portal.
The bureau utilizes a “Consumer Complaint Intake System Company Portal Boarding Form” to sign up companies for access to the secure, web-based Company Portal. The 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.
“We ask the Bureau to regularly assess the complaint system overall to identify opportunities to decrease unnecessary compliance burden and increase efficiency and effectiveness,” the letter reads. “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.”
CUNA also urged the bureau to: