The CFPB issued its second monthly complaint report inlate November, and it shows that more consumers are takingadvantage of the organization's complaint process. As of Nov. 1,2015, the CFPB has handled approximately 749,400 complaints,including approximately 24,300 complaints in October 2015 – more inone month than they saw in all of 2014.

In March of this year, the CFPB added a new feature to theconsumer complaint database: Namely, consumers now have the optionto publish a so-called narrative regarding the complaint. Thenarrative elaborates on the consumer's allegations against thecompany. Previously, the database only identified the financialproduct complained about, name of the company and a categoryidentifying the topic of the complaint.

To all of the above I say, great! Stand-outs in the financialspace (read: Credit unions) should be thrilled too. More dataprovides more knowledge, and allows credit unions to reallyseparate themselves as institutions that are doing it right fromthose who aren't.

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