Consumer complaints about credit or consumer reporting continued to increase in 2023, according to the Consumer Financial Protection Bureau’s latest annual report.
CFPB: Consumer complaints focus on credit bureaus
April 01, 2024 / By ICBA
Consumer complaints about credit or consumer reporting continued to increase in 2023, according to the Consumer Financial Protection Bureau’s latest annual report.
Consumer complaints about credit or consumer reporting continued to increase in 2023, according to the Consumer Financial Protection Bureau’s latest annual report.
Details: In the report, the CFPB said:
Of the more than 1.6 million complaints the CFPB received in 2023, it sent 81% to companies for review and response, referred 6% to other regulatory agencies, and found 13% to be not actionable.
More than 1 million of the complaints went to the three nationwide consumer reporting companies: Equifax, Experian, and TransUnion.
Consumers also raised issues about fraudulent activity in nearly every product category, including credit or consumer reporting, debt collection, checking or savings accounts, and credit cards.
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