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DS News Webcast: Thursday 7/2/2015

The Consumer Financial Protection Bureau has issued a request for information regarding its consumer complaint database after going live with an enhanced version of the database last week, according to the CFPB. The Bureau's new enhanced public-facing consumer complaint database included more than 7,700 accounts of complaints that consumers have had with financial companies with regards to the way their mortgages, accounts, credit cards, debt collection, and other services are handled.

The Bureau published the request for information to determine whether there are ways to help the public more easily understand the information presented in the database and how consumers can compare the information the database contains. The request is part of an effort to continue dialogue on easier ways to compare complaint handling performance. The Bureau is requesting information from market participants, consumers, and other stakeholders on data normalization and its proper implementation within the database.

Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton are expected to get multimillion-dollar increases to their paychecks, according to Wednesday's 8K Filings with the U.S. Securities and Exchange Commission. The two CEOs, who made $600,000 each without bonuses in 2014, will each earn an annual base salary of $750,000, fixed deferred salary at an annual rate of $2.05 million, and at-risk deferred salary with an annual target amount of $1.2 million, totaling $4 million.

About Author: Jordan Funderburk


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