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Financial Services Industry Consumer Complaint System Consumer Financial Products

Troutman Pepper

August 2024 Consumer Litigation Filings: Everything Up for Month and YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA), and Fair Debt Collection Practices Act (FDCPA) and complaints filed with the...more

Ballard Spahr LLP

CFPB: Number of servicemember complaints increased in 2023

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The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of...more

Troutman Pepper

July 2024 Consumer Litigation Filings: Mixed Results for Month, Up YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA) and Telephone Consumer Protection Act (TCPA) were down for the month of July, but filings the under Fair Debt Collection...more

Ballard Spahr LLP

CFPB: Most debt collection complaints in 2023 were attempts to collect debts not owed

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The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more

Troutman Pepper

April 2024 Consumer Litigation Filings: Trending Up for Most

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According to a recent report by WebRecon, court filings under the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) and complaints filed with the Consumer Financial Protection Bureau (CFPB) were...more

Ballard Spahr LLP

CFPB Publishes Consumer Response Annual Report

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The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

Ballard Spahr LLP

CFPB seeking OMB approval for new consumer complaint surveys

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The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget for two new surveys intended to identify factors that influence a consumer’s...more

Troutman Pepper

January Consumer Litigation Filings: Everything Way Up

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and complaints filed with the Consumer...more

Troutman Pepper

Year-End Report Reveals Increased TCPA Filings and CFPB Complaints in 2023

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According to a recent year-in-review report by WebRecon, reversing the trend of the last two years, filings under the Telephone Consumer Protection Act (TCPA) increased in 2023 as compared to 2022. Likewise, complaints filed...more

Goodwin

Why Your Consumer Complaint Response Function Is Vital to Your Business

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If you’re offering a financial product or service to consumers, such as a deposit account, loan, credit card, or payment service, you need a strong consumer complaint response function. This is true whether you’re an...more

Shipkevich PLLC

CFPB Releases Complaint Bulletin Analyzing Crypto-Asset Consumer Complaints; Tips for Consumers to Protect Themselves from...

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On November 10, 2022 the Consumer Financial Protection Bureau (CFPB) released a complaint bulletin (“bulletin”) that provides an analysis of consumer complaints the CFPB has received from October 2018 to September 2022...more

Troutman Pepper

Your Problems Come on Two Legs: Managing Consumer Complaints - The Consumer Finance Podcast

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Please join Consumer Financial Services Partner Chris Willis and his guests, fellow Partner Alan Wingfield and special guest Tom Kline, as they discuss effective consumer complaint management. They’ll touch on the CFPB’s...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Seeks Comment on Reworking Consumer Complaint Rules

On May 20, the California DFPI released a Notice of Proposed Rulemaking seeking comment on implementing new rules to the California Consumer Financial Protection Law (CCFPL). Previously, the CCFPL expanded the DFPI’s...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report: Major Credit Bureaus Failed to Meet Statutory Obligations in Response to Consumer Complaints

On January 5, the CFPB released its Annual Report of Credit and Consumer Reporting Complaints that analyzes complaint responses by the three major consumer reporting agencies (CRAs). The CFPB’s analysis reveals that recent...more

Hudson Cook, LLP

Consumer Complaints on the Rise - CFPB's Annual Complaint Report

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As required by the Dodd-Frank Act, the Consumer Financial Protection Bureau recently provided to Congress its Consumer Response Annual Report for 2020. The report's introduction notes that, in 2020, the CFPB received more...more

Morgan Lewis - All Things FinReg

Acting CFPB Director Calls for Companies to Improve Responses to Consumer Complaints

Consumer Financial Protection Bureau (CFPB) Acting Director David Uejio has put a special focus on the manner in which responses are made to the CFPB’s consumer complaint system. Signaling the importance of this issue by...more

Ballard Spahr LLP

CFPB Updates 2020 Complaint Bulletin and Again Focuses on COVID-19 Related Complaints

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On July 16, 2020, the Consumer Financial Protection Bureau (CFPB) issued an updated 2020 Complaint Bulletin and again focused on complaints related to COVID-19....more

Ballard Spahr LLP

CFPB makes enhancements to consumer complaint database

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The CFPB issued a press release earlier this week to announce that it has made a series of enhancements to its consumer complaint database.  The CFPB announced its plans to make the enhancements in September 2019 in...more

Ballard Spahr LLP

CFPB Private Education Loan Ombudsman issues annual report

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The CFPB Private Education Loan Ombudsman has issued an annual report containing an analysis of approximately 13,900 federal student loan complaints, 6,700 private student loan complaints, and 4,600 debt collection complaints...more

Ballard Spahr LLP

CFPB announces changes to consumer complaint database

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The CFPB has announced a number of “enhancements” to its consumer complaint database.  In March 2018, the CFPB issued a request for information seeking comment on potential changes to its practices for the public reporting of...more

Ballard Spahr LLP

OIG report looks at CFPB internal sharing of complaint data

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The Office of Inspector General for the CFPB (and the Fed) recently issued a report on its evaluation of the Office of Consumer Response’s sharing of complaint data within the CFPB. ...more

Burr & Forman

CFPB Update: April 2019

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The Consumer Financial Protection Bureau (CFPB or Bureau) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

CFPB Complaint Report Highlights Servicemember Complaints in 2018 from All 50 States

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The CFPB recently published the latest complaint snapshot report which detailed complaint numbers, trends, and top issues reported by servicemembers, veterans, and their families across the country....more

Ballard Spahr LLP

Imposter Scams Top FTC’s List of 2018 Consumer Complaints

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The FTC has issued its 2018 Consumer Sentinel Network Data Book. The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database....more

Bradley Arant Boult Cummings LLP

5 Tips to Consider When Performing Your Social Media Risk Assessment

According to the Pew Research Center’s Social Media Use in 2018, 73 percent of adults in the United States use at least one type of social media, and the typical American uses three. For 18 to 29 year olds, 80 percent use...more

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