The CFPB Has New Rules for You to Make Complaints
If you have an unresolved problem with a bank, credit card issuer, credit-reporting company, or other financial product or service, one way to get help is to file a complaint with the Consumer Financial Protection Bureau. After you submit your complaint at the CFPB’s website, the CFPB sends it to the provider for review. Most companies respond within 15 days.
Recently, the CFPB announced changes to its complaint portal. It’s adding two-factor authentication, requiring users who create online accounts to verify both their e-mail address and their phone number. Additionally, the CFPB says that those who wish to correct inaccurate information on their credit reports must first file a dispute with the credit-reporting companies: Equifax, Experian and TransUnion.
While the Fair Credit Reporting Act supplies a framework for consumers to do this directly with the companies, “some credit-repair clinics and individuals are using the Bureau’s complaint process to circumvent this statutory process,” the CFPB says.
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In recent years, the volume of complaints to the CFPB about consumer- and credit-reporting companies increased dramatically, rising from more than 150,000 in 2019 to more than 5 million in 2025. The CFPB says that it is “focusing resources on complaints that warrant a substantive response,” safeguarding the system from users who appear to be abusing the complaint process.
The CFPB says its adjustments will help the bureau more effectively address complaints. Some consumer advocates, however, contend that these moves will create obstacles for those who request assistance from the CFPB. The National Consumer Law Center said in a statement that the CFPB’s actions will discourage people from disputing credit-report errors.
In a letter to the CFPB’s acting director, Russell Vought, Democratic Sens. Elizabeth Warren and Andy Kim expressed concern that the overhaul has made it more difficult for consumers to submit complaints and that the changes were made “at the urging and to the benefit of the credit-reporting companies.”
Where to get help
Before you ask the CFPB or another third party to assist you with a complaint, reach out to the provider to see whether it offers a solution. If you find an error or signs of fraudulent activity on your credit reports — say, the presence of a credit card or loan that you never opened — contact the card issuer, lender or other entity that furnished the information, and file a dispute with each credit-reporting company listing it. You’ll find a link to initiate your dispute online at each credit-reporting company’s home page: equifax.com, experian.com and transunion.com.
If you’re dissatisfied with a provider’s response to your complaint (or if you get no reply at all), you may gain a better result by bringing in a government agency or advocacy organization. While the CFPB accepts complaints about financial products and services, other groups can assist with problems outside that arena. Your state’s consumer protection office may mediate disputes with businesses; look up your state’s office at usa.gov/state-consumer.
The Better Business Bureau will forward complaints to businesses on your behalf, asking them to respond within 14 days. Elliott Advocacy helps consumers resolve complaints with businesses for free, but you must agree that the group can publish your name and city in an article about your case so that others can learn from your experience.
Some financial problems can have effects that extend beyond the initial dispute. A financial professional can help you assess the potential impact on your finances and plan your next steps.
Use the tool below to connect with a financial professional who can help:
Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.
