WASHINGTON—Mortgages and debt collection continue to be a focus of consumer complaints to the CFPB.
The CFPB Tuesday released its latest monthly consumer complaint snapshot. As of Dec. 1, 2015, the Bureau has handled over 770,100 complaints across all products.
Some of the highlights from the statistics in this month’s snapshot report include:
- Complaint volume: For November 2015, the two most-complained-about financial products were debt collection and mortgages, representing nearly half—49%—of complaints submitted. Overall, the CFPB saw a 12% decrease in complaint volume between October 2015 and November 2015.
- Product trends: In a year-to-year comparison examining the time periods of September to November, complaints about prepaid products rose 215%. Between Sep. 1 and Nov. 31, the CFPB received 442 complaints about prepaid products. Payday loan complaints showed the greatest decrease—14%—during the same time period.
- State information: The District of Columbia and Delaware are the two places with the highest complaint volume per capita in the country. The District of Columbia had 674 complaints per 100,000 people, while Delaware had 433 complaints per 100,000.
- Most-complained-about companies: The top three companies about which the CFPB received the most complaints between July and September of 2015 were Equifax, TransUnion, and Experian.