INFORMATION TROVE: The Consumer Financial Protection Bureau is launching an online database of complaints about credit cards. The public can see what types of complaints people have filed against any bank that issues credit cards.
FIRST OF ITS KIND: The CFPB is the first agency to set up a public website to track complaints about consumer financial products.
POTENTIAL USES: The agency will use the database to track complaints and identify problems in the marketplace, such as a new card that carries hidden or poorly disclosed fees. It also wants consumers to use the information to research financial products they might use.
