Technical glitches in the Consumer Financial Protection Bureau's new consumer hotline have led some credit card complaints to never reach banks, according to Bloomberg.
The news source states the hotline, which has been in place since the end of July, was part of the Dodd-Frank Act, and aims to provide consumers with an outlet for complaining about credit issues. However, technical problems have prevented many consumers' messages to their banks from going through.
Richard Hunt, head of the Consumer Bankers Association, told the source some banks noticed there may have been an issue with the hotline when the volume of complaints dropped substantially in recent weeks. Many of these banks, Hunt stated, were concerned they may be blamed for unanswered questions and comments.
"If you're a bank, you don't know there has been a complaint unless the CFPB tells you," Hunt told Bloomberg.
CFPB spokesperson Jen Howard stated the issue is being resolved and should be completely fixed within a matter of weeks.
Many consumers trying to get through to their banks may have queries about credit issues. Should these lending institutions be unable to provide answers to credit problems, cardholders may want to speak with a credit repair attorney.