Combining some of its outstanding initiatives and adding new ones, the CFPB is seeking information on how well larger banks and credit unions serve consumers and what steps may be needed to make them do better. The focus of the inquiry is response time, content, and methodology following consumer inquiries based on provisions in the agency’s mandate allowing it to require that banks with assets over $10 billion and their affiliates provide timely responses to consumer requests for information about their accounts. This was included in the Dodd-Frank Act because of ….
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