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.