CFPB Releases State-level Snapshot of Consumer Complaints

June 27, 2017, the Consumer Financial Protection Bureau (CFPB) released a special edition of its monthly complaint report, providing a snapshot of consumer complaints submitted across the country. For each state and the District of Columbia, the report provides statistics on complaint volume, the products and services generating the most complaints, company response rates, and a look at complaints from servicemembers and older Americans. The report also gives a national overview and spotlights narratives submitted by consumers regarding their experience with the CFPB’s complaint process. Overall, the Bureau has received over 1,218,600 complaints as of June 1, 2017.

Read the monthly report which includes the 50-state snapshot here:  http://files.consumerfinance.gov/f/documents/201706_cfpb-Monthly-Complaint-Report-50-State.pdf

The June 27th snapshot is a special edition of the monthly complaint report that the CFPB puts out every month. This special edition supplements the statistics and trends seen on the national level with an analysis of complaints coming from each state and the District of Columbia. While each monthly complaint report contains state-level data, this month’s report expands upon that information. For each state and the District of Columbia, it provides details on total complaints received, number of complaints from specialty populations, changes in volume of complaints submitted, and company response statistics, as well as information about specific products and services consumers have complained about.

In June 2012, the CFPB launched its Consumer Complaint Database, which is the nation’s largest public collection of consumer financial complaints. When consumers submit a complaint they have the option to share publicly their explanation of what happened. For more individual-level complaint data and to read consumers’ experiences, visit the Consumer Complaint Database at: https://www.consumerfinance.gov/data-research/consumer-complaints/

 

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Anna DeSimone founded Bankers Advisory in 1986 and is a nationally recognized authority in residential mortgage lending. She has received numerous industry awards and has authored more than 40 best practices guides and hundreds of articles.

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