The latest Consumer Financial Protection Bureau (CFPB) monthly consumer complaint snapshot finds credit reporting complaints lead the pack, but bank credit card issuers land second place.
However, overall credit card complaints declined 2%.
By average monthly complaint volume, Equifax (1,014), Experian (911), (765) were the most-complained-about companies for December 2015.
Capital One experienced the greatest percentage increase in average monthly complaint volume (24%) from December 2014 – February 2015 to December 2015 – February 2016.
Prepaid complaints showed the greatest month-over-month percentage decrease (-27%).
Debt collection, credit reporting and mortgage complaints continue to be the top three most-complained-about consumer financial products and services, collectively representing about 68% of complaints submitted in April 2016.
In addition to complaints against the big three credit reporting companies Equifax, Experian, Transunion, consumers have submitted more than 2,000 complaints on a number of specialty consumer reporting companies. These companies specialize in providing reports in a number of areas, including background and employment screening, checking account screening, rental screening, and insurance screening.
As of May 1, 2016, the CFPB has handled approximately 882,800 complaints, including approximately 23,900 complaints in April 2016.
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