WASHINGTON (7/17/15)--There is a whole new series of monthly reports from the Consumer Financial Protection Bureau (CFPB) on consumers’ complaints. Credit unions and other financial institutions will be able to use the information to track consumer complaint trends.
The first edition of the new report was released Thursday. The monthly reports will include complaint data on company performance, complaint volume, state and local information, and product trends.
According to the bureau, the report will spotlight a particular product and geographic location each month, with the first report providing a closer look at debt collection complaints and complaints from consumers in Milwaukee.
The report released Thursday contains complaint highlights as of July 1. The bureau found in June 2015, debt collection represented 32% of complaints submitted, making it the most-complained-about category.
Other highlights from this month’s report include: