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US OMB's Leader Questions Usefulness of Public Database

by Associated Press

   TOPEKA, KANSAS --

   The acting director of a federal watchdog agency is questioning the
   usefulness of keeping an online database of complaints against lenders
   and finance companies.

   Acting Director Mick Mulvaney of the Consumer Financial Protection
   Bureau said Friday that he is considering whether the database should
   remain online.

   He was asked about the issue during a forum on elder abuse in Topeka.

   Mulvaney said the database has some weaknesses, such as not containing
   information about how complaints were resolved. He also said he is not
   sure having the information online helps consumers resolve complaints.

   He said the bureau would continue collecting information about
   complaints even if the database is not online because federal law
   requires it.

   But Kansas City attorney Bryce Bell said public access makes companies
   more receptive to settling complaints.