The Consumer Financial Protection Bureau (CFPB) has had a public-facing facility called the Consumer Complaint Database (CCD) for years. Consumers who allege financial harm contact the CFPB and lodge complaints relating to a laundry list of possible products and services.
The CFPB is now proposing a public registry for terms and conditions in form contracts that waive or limit consumer rights and protections. The registry specifically would apply to nonbanks.
A form contract is a "take-it-or-leave-it" contract between two parties where the terms and conditions of the contract are determined by one of the parties, and the other party has little or no ability to negotiate more favorable terms, thereby putting them in a "take it or leave it" position. You may have heard the term "boilerplate" contract; it's pretty much the same thing.
