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CFPB Monthly Complaint Snapshot Spotlights Credit Reporting Complaints
Wednesday, August 26, 2015 6:45 AM

Yesterday, the Consumer Financial Protection Bureau released its monthly consumer complaints snapshot. The report spotlights credit reporting complaints, which sharply increased compared to the prior month and the prior year. As of August 1, 2015 the Bureau has handled over 677,000 complaints across all products. 

According to the report, the majority of the credit reporting complaints were about problems with incorrect information on the reports. This month’s snapshot also highlights trends seen in complaints coming from the Los Angeles, California metro area.

“Whether a consumer is trying to get a mortgage, apply for a student loan, or buy a car, credit reports are fundamentally important in allowing people to access their financial goals,” said CFPB Director Richard Cordray. “As we see a rise in the number of consumers complaining about this issue, the Bureau will continue to work to ensure that credit reports are fair, accurate, and readily available to all consumers.”

Review the Monthly Complaint Report