So I called this morning to get some info. The run down the CSR gave me was basically a complaint is filed. That complaint is then sent to the company where the company responds to the complaint. Some companies will just choose to have the complaint dropped and give the consumer what they're asking. This doesn't mean the CFPB did anything or will do anything. It just means the company chooses not to deal with it.
He said some companies will fight tooth and nail and won't budge on a complaint and will stick to their guns. Those complaints are then closed and sent to a third party for review. If any laws are broken that's where the fines come in.
I sighted my case as its been going on for 8 months with numerous complaints against the same company.
I asked at what point does the consumer finally get relief from breaking the FCRA regulations. He couldn't answer that and said it takes time. I asked am I looking at 1yr, 2yrs etc. he couldn't answer that question only it takes time.
So while they are in essence like the BBB, the only difference is they will review the complaint by a third party and fine companies who break the FRCA guild lines, but it takes time. So I'll be stuck with the midland thing for who knows how long on my CR.
That's about the extent of it.
Will update once I hear of something.