WASHINGTON The Trump administration is likely to end public access to a web portal used by hundreds of thousands of consumers each year to file complaints against financial companies The Consumer Financial Protection Bureaus acting director Mick Mulvaney on Tuesday addressed his intention to eliminate public access to the complaint database saying it contains information that hasnt been fully vetted by the government I dont see anything in here that says I have to run a Yelp for financial services sponsored by the federal government Mr Mulvaney said at a banking industry conference holding up a copy of the 2010 Dodd-Frank financial law that created the CFPB Audience members at the American Bankers Association conference applauded the comment The CFPB database has drawn 15 million consumer complaints on financial companies and products since its launch in 2011 It includes the names of the companies that receive complaints and detailed consumer experiences Advocates say having the information available to the public makes the portal effective by putting pressure on companies to respond to consumers Businesses say it spreads unverified negative information about them Its an incredibly important tool that empowers consumers said Aaron Klein a policy director at the Brookings Institution Why would he want to reduce information so people could make less-informed choices The CFPB verifies consumers did business with the companies in the database but doesnt confirm details in the complaints Mr Mulvaney said the bureau would continue to maintain a toll-free number and a website to gather consumer complaints and forward them to companies but the database would be hidden from public view Separately Mr Mulvaney said he has started referring to the regulator as the Bureau of Consumer Financial Protection its formal name stipulated in Dodd-Frank On its website the agency still calls itself the Consumer Financial Protection Bureau Mr Mulvaneys remarks came as the CFPB formally gathers comments from the financial industry and public on its handling of consumer complaints including whether the bureau should change how it operates the database The CFPB under the Trump administration has in recent weeks asked for public feedback on a dozen issues as part of an effort to ensure the bureau is fulfilling its proper and appropriate functions The effort covers key areas of the CFPBs operations from enforcement to rule-making and could be a precursor to wholesale changes coming to the agency created under the Obama administration and long criticized by Republicans Yes this is a different bureau than it was under our predecessors Mr Mulvaney said That is the nature of the business and elections do have consequences The CFPB handled 317 200 consumer complaints during the fiscal year ended last September with debt collection credit reporting mortgage and credit cards drawing the most complaints the CFPB said in a recent report to Congress Companies responded to 93 of complaints received through the CFPB the bureau added The CFPB also said consumer complaints help bureau officials identify potential targets for its enforcement and supervisory activities and set its regulatory policies Write to Yuka Hayashi at yukahayashi wsjcom