Your Problems Come on Two Legs: Managing Consumer Complaints - The Consumer Finance Podcast
The UK Financial Ombudsman Service (FOS) published its Q1 2025/26 complaints data alongside a press release, revealing a notable decline in case volumes to 68,000, down from 74,600 in the same period last year. Complaints...more
The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of...more
The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more
If you’re offering a financial product or service to consumers, such as a deposit account, loan, credit card, or payment service, you need a strong consumer complaint response function. This is true whether you’re an...more
The Consumer Financial Protection Bureau (CFPB or Bureau) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more
The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more
The CFPB’s October 2017 complaint report, which the CFPB calls a “special edition” monthly complaint report, departs from the format of the CFPB’s standard monthly reports. (The CFPB’s June and July 2017 complaint reports...more
The CFPB has issued a “50-state snapshot of student debt,” which provides student debt data on a state-by-state basis. The report states that the complaint data “reflects over 50,000 student loan complaints and over 10,000...more
On June 27, 2017, the Consumer Financial Protection Bureau (CFPB) published a state-by-state breakdown of consumer complaints that have been filed with the CFPB. The snapshot—which is contained in the June 2017 edition of the...more
The CFPB has issued its December 2016 complaint report which highlights complaints about debt collection. The report also highlights complaints from consumers in Arizona and the Phoenix metro area. General findings...more
The CFPB has released its fifth Annual report of the CFPB Student Loan Ombudsman discussing complaints received by the CFPB about private and federal student loans and the lessons drawn by the Ombudsman from those complaints....more
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. The CFPB began taking money transfer...more
The Consumer Financial Services Association of America (CFSA) issued a statement in which it reported that documents it received from the CFPB in response to a Freedom of Information (FOIA) request filed on December 31, 2015...more
The CFPB has issued its June 2016 complaint report which highlights complaints about consumer loans and complaints from consumers in Arkansas and the Little Rock metro area. The CFPB began taking consumer loan complaints in...more
The CFPB recently joined other federal regulators who have indicated a growing interest in marketplace lending with its announcement that it is accepting consumer complaints about loans obtained through marketplace lenders. ...more
The interest of federal regulators in marketplace lending continues to grow. In March 2016, the CFPB announced that it is taking complaints about marketplace lenders. In July 2015, the Treasury Department issued a request...more
The California Department of Business Oversight (DBO) has issued a summary report of aggregate data provided by the companies that responded to the DBO's online survey sent to 14 marketplace lenders engaged in online consumer...more
The CFPB has issued its March 2016 complaint report which highlights complaints about debt collection and complaints from Florida consumers. The CFPB began taking complaints about debt collection in July 2013. General...more
On March 7, 2016, the Consumer Finance Protection Bureau (“CFPB”) announced that its complaint database would now accept complaints from consumers encountering problems with loans from online marketplace lenders. According to...more
On March 7, 2016, the Consumer Financial Protection Bureau (the “CFPB”) released a consumer bulletin with information and tips for consumers of marketplace lending. The bulletin provides consumers with an overview of the...more
The CFPB’s actions are likely the first steps in identifying consumer issues with marketplace lenders. The Consumer Financial Protection Bureau (CFPB or Bureau) is flexing its muscles once again, and this time the target...more
On March 7, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it now accepting complaints from consumers related to problems with loans from online marketplace lenders. The CFPB also announced the release...more
The CFPB announced that it is now accepting consumer complaints about loans obtained through marketplace lenders and also issued a consumer bulletin directed at consumers who are shopping for such loans. The CFPB’s press...more
The Consumer Financial Protection Bureau’s (CFPB’s) consumer complaint database recently raised significant concerns from insiders at the CFPB as well as entities subject to the CFPB’s jurisdiction. In November 2015, the...more