The CFPB has been very agressive in many areas.
They are currently very active in debt collection practices revisions, having already initiated the begin of the federal rulemaking process.
They publisihed request for comments as a preliminary to publication of proposed rules, which are soon to be published in the federal register.
They ahve also publshed directives to the CRAs advising them that they will be strictly enforcing the requirements to foward all documentation to furnishers when conduction reinvestigation of a dispute filed with teh CRA. That has led to revision of the CRA e-Oscar process.
The CFPB has administrative regulation of both the FCRA and the FDCPA.
However, complaints to the CFPB should not be made without first exhausting the administrative procedures provided under those statutes.
For example, issues of inaccuracy of reporting should first be disputed under either the FCRA direct dispute process or disputed through a CRA before filing a complaint with the CFPB.
Additionally, the CFPB does not have the discovery powers of a court, and should be used when the consumer feels there is a specific violation of the statute.
Most disagreements over the facts of a case rather than clear non-compliance with the statute will usually require civil action rather than use of the CFPB complaint process.
(Note that the CFPB process is a complaint process, not a dispute process).
