H.R. 7588 — Eliminating Fraud in the CFPB’s Complaint Database Act

This section amends the Consumer Financial Protection Bureau's (CFPB) consumer complaint database (i.e., the system that collects, tracks, and publishes anonymized consumer complaints about financial products and services) by adding the following requirements: (1) consumer attestation under penalty of perjury that complaint information is accurate, was submitted by the consumer or an authorized representative with sufficient proof of identification (e.g., Social Security number, birth certificate, or driver's license), and that the consumer notified the covered company of the issue at least 60 days prior; (2) CFPB notification to consumers and companies if a complaint is unauthorized; (3) authority for covered companies to close duplicative, frivolous, unauthorized, untimely (less than 60 days' prior notice), or remedied complaints without further action, with required notice to CFPB for database recording; and (4) confidentiality of all complaint and response narratives, with allowance only for aggregated, non-personally identifiable trend data.