Report details consumer complaints state by state

June 29, 2017 -- State-by-state statistics on consumer complaints about financial services, including volume, the products and services generating the most, company response rates, and a look at complaints from servicemembers and older Americans are summarized in a special report released this week by the CFPB.

The State-Level Snapshot of Consumer Complaints from the bureau (published Tuesday) notes that – as of June 1 – more than 1.22 million complaints had been received by the agency. To give that number context, the reports provides a national overview and spotlights narratives submitted by consumers regarding their experience with the CFPB’s complaint process.

“The Bureau’s ability to receive and process consumer complaints enables us to hear directly from people about their concerns and helps us prioritize our work to protect others against similar problems,” said CFPB Director Richard Cordray in a statement accompanying the report’s release. “This report provides valuable information to the CFPB and the public about issues and trends we are seeing from each state.”

Key points made in the report include:

  • Complaint volume rose 7% between 2015 and 2016;
  • Companies provided a timely response to 97% of complaints they received from the CFPB;
  • More than half of consumers submitting complaints opt to have their narrative published;
  • Debt collection and mortgage complaints account for half of complaints submitted.

Debt collection remains the most complained-about product or service, CFPB noted, with approximately 316,810 complaints to date since the Bureau began accepting debt collection complaints in July 2013. “These complaints, which represent 27% of the overall volume, include complaints about attempts to collect on debts not owed by consumers and repeated and harassing calls from collectors,” the bureau noted in a release.

The report notes that since December 2011 (the date it began taking mortgage complaints) it has received approximately 272,153 mortgage-related complaints, representing just shy of one quarter (23%) of total complaints. The complaints include those about problems consumers experience dealing with their servicer when they are struggling to make payments.

CFPB June 2017 monthly complaint report: State-by-state breakdown