New Consumer Complaint Government Database Launches

From MSNBC.com’s Red Tape Chronicles, a story about a new website from the Consumer Protection Financial Bureau. The website, the Consumer Complaint Database, allows consumers to report their unhappiness with credit card companies. The CPFB verifies whether there is a “relationship” between the consumer and the company.

Says Bureau director Richard Cordray, “(This) is a major milestone for consumers and all those who are interested in knowing more about their day-to-day experiences. We believe this is the first time that the general public has been able to see such individual-level consumer complaint data for financial products and services. …  Anyone with access to the web will be able to review and analyze the information, and draw their own conclusions.” More here from CNN Money.