The Consumer Financial Protection Bureau (CFPB) reported last week, that as of January 1, 2016, the bureau handled 790,000 debt settlement, check cashing, credit repair, mortgage, and other financial service related complaints nationally.

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The CFPB reported that the three most-complained-about financial products were credit reporting, debt collection, and mortgages, which represented approximately two-thirds—68 percent—of complaints submitted.

CFPB Director Richard Cordray, said this about the latest report, “Many of the financial services examined in today’s report are used by people struggling to make ends meet who can least afford to have issues with their financial products. The Bureau will continue to use complaints submitted about these products to target bad actors in the financial marketplace.”

The full report can be found at: http://files.consumerfinance.gov/f/201601_cfpb_monthly-complaint-report-vol-7.pdf

The Consumer Complaint Database can be found at: www.consumerfinance.gov/complaintdatabase/

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.