Most Mortgage Complaints Deal With Servicing -CFPB

Posted To: MND NewsWire

The Consumer Financial Protection Bureau (CFPB) said this week that debt collection generated the most complaints about financial products or service received by in in August. About 29 percent or 7,582 of the 25,732 consumer complaints it during the month were about collection practices while credit reporting was second with 5,733. While the total number of complaints declined by nearly a thousand compared to July, consumer loans which include pawn, title, and installment loans have nearly doubled over the last year. Payday loans had the largest percentage decrease, dropping 12 percent over the June-August period in 2015 compared to the same time-frame in 2014. As of Sept. 1, 2015 the Bureau has handled over 702,900 complaints across all financially-related products. Company-level complaint...(read more)

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