complaints

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The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations to implement provisions of the California Consumer Financial Protection Law (CCFPL) pertaining to consumer complaints and inquiries.  Comments are due by July 5, 2022

Specifically, the CCFPL requires the DFPI to issue rules establishing reasonable procedures for responding to consumer complaints against and inquiries concerning a “covered person” and rules requiring covered persons to provide responses to the DFPI regarding consumer complaints or inquiries that include certain information such as what steps were taken to respond to the complaint or inquiry, and what responses were received by the covered person from the consumer. … Continue Reading

The CFPB has issued its Consumer Response Annual Report, which analyzes the approximately 542,300 complaints received by the CFPB between January 1 and December 31, 2020.  The number of   complaints received in 2020 represents a nearly 54% increase over the approximately 352,400 complaints received in 2019.  The report details the trends in consumer complaints across various categories and provides information about the CFPB’s process for handling complaints.… Continue Reading

Again demonstrating that he does not intend to merely be a caretaker for the CFPB’s next Director, Acting Director Uejio has publicly shared his statement to the Bureau’s Division of Consumer Education and External Affairs (CEEA) in which he directs Consumer Response to prepare a report highlighting the companies with a poor track record in responding to consumer complaints. … Continue Reading

The CFPB’s Office of Servicemember Affairs has released its annual report on complaints submitted to the Bureau by servicemembers.

The report covers the period April 1, 2017 through August 31, 2018.  During that period, the Bureau received approximately 48,800 complaints from servicemembers, with credit reporting, debt collection, and mortgages, respectively, the first, second, and third most-complained-about financial products or services. … Continue Reading

The CFPB has issued a request for information that seeks comment on its handling of consumer complaints and inquiries.  Comments on the RFI must be received by July 16, 2018.

The CFPB defines consumer complaints as “submissions that express dissatisfaction with, or communicate suspicion of wrongful conduct by, an identifiable entity related to a consumer’s personal experience with a financial product or service.” … Continue Reading

According to its newly-released Consumer Sentinel Network Data Book, the FTC received complaints from 2.68 million consumers in 2017, a decrease from 2016 when 2.98 million consumers submitted complaints.  The annual report, which does not include do-not-call complaints, provides national and state-by-state data on consumer complaints received by the FTC. … Continue Reading

The CFPB’s July 2017 complaint report, which the CFPB calls another “special edition complaint report,” departs from the format of the CFPB’s standard monthly reports.  (The CFPB’s June 2017 complaint report was also called a “special edition.”)  Instead of analyzing monthly complaint trends and highlighting complaints received about a particular product and from consumers in a particular state and city, the new report focuses on annual complaint volume by product for 2014-2016 and the channels used by consumers to submit such complaints. … Continue Reading

The CFPB has issued its May 2017 complaint report highlighting complaints from “older consumers,” who the CFPB defines as consumers who voluntarily reported their age as 62 or older.  The CFPB reports that consumers voluntarily reported their age in 54 percent of complaints.

General findings include the following:

  • As of April 1, 2017, the CFPB handled approximately 1,163,200 complaints nationally, of which approximately 103,100 (9 percent) were submitted by older consumers, including approximately 2,200 older consumer complaints in March 2017. 
… Continue Reading

The CFPB has issued its April 2017 complaint report that highlights student loan complaints.  The report also highlights complaints from consumers in Nevada and the Las Vegas metro area.

On June 8, 2017, from 12:00 p.m. to 1:00 p.m. ET, Ballard Spahr will hold a webinar, “CFPB Criticism of Student Loan Servicers – What’s Coming Next?” … Continue Reading

The CFPB has issued its March 2017 complaint report that highlights credit card complaints.  The report also highlights complaints from consumers in Massachusetts and the Boston metro area.  On April 13, 2017, from 12:00 p.m. to 1:00 p.m.ET, Ballard Spahr will hold a webinar, “The CFPB’s Consumer Credit Card Market RFI and Other Important Recent Credit Card Developments.” … Continue Reading