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Online credit card complaint database debuts

WASHINGTON (CNNMoney) — A new online database devoted to cataloging consumer complaints against credit card companies is set to launch at 8 a.m. ET Tuesday.

The website, created by the Consumer Financial Protection Bureau, will begin by posting grievances against credit card companies, and will eventually include complaints regarding mortgages and student loans. The site, which won’t be live until 8 a.m., will be http://www.consumerfinance.gov/complaintdatabase

The bureau has collected more than 45,000 complaints on all those products since last July.

“By making our data publicly available, initially in the area of credit cards, we hope to improve the transparency and efficiency of this essential consumer market,” aid Richard Cordray, director of the consumer bureau in a press briefing with reporters on Monday.

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