Have a Problem with CFPB? There’s an Ombudsman for That

WASHINGTON — Another day, another initiative from the Consumer Financial Protection Bureau.

The CFPB announced the official opening on Friday of its Ombudsman's Office in a blog post on the bureau's website. The office is ready to take concerns from financial institutions regarding problems with supervision or enforcement, but won't take consumer complaints until the spring.

"The word may be new to you, but there are ombudsmen at many government agencies, private companies and educational institutions around the country," Meredith Fuchs, the bureau’s chief of staff, wrote on the blog. "In general, an ombudsman’s job is to help informally resolve issues with an organization in an independent, impartial, and confidential way by advocating for a fair process."

Consumers, banks or nonbanks can use the office when they haven’t had success with existing CFPB processes, if they’re seeking an informal resolution or if they want to keep their concerns confidential, Fuchs said.

The office will be run by Acting Ombudsman Wendy Kamenshine, who previously worked in the Department of Homeland Security’s Office of the Citizenship and Immigration Services Ombudsman.