Archive

BUREAU RELEASES COMPLAINT SNAPSHOT

On October 23, the Bureau of Consumer Financial Protection (the Bureau) released its Complaint Snapshot: 50 State Report. According to the Bureau, the report “…provides a high-level overview of trends in consumer complaints and supplements the Consumer Response Annual Report with more recent information on complaints about consumer financial products and services by state.” From July 2011, when the Bureau began receiving complaints, through June 30, 2018, the Bureau had received approximately 1,578,700 complaints. The […]

CREDIT REPORT CHANGES – TAX LIENS AND CIVIL JUDGMENTS

Beginning July 1, 2017, the three major credit bureaus – TransUnion, Experian, and Equifax – will exclude information on civil judgments and tax liens from consumer reports unless that information has been verified. In order to be included in the credit report, new and existing tax lien and civil judgment data must: 1) include a person’s name and address as well as Social Security number or date of birth; and 2) credit bureaus must verify […]

CFPB 2014 CONSUMER RESPONSE ANNUAL REPORT

Last month the Consumer Financial Protection Bureau (CFPB) released its 2014 Consumer Response Annual Report. Last year the CFPB received approximately 250,700 consumer complaints. The most significant categories of complaints were debt collection (35%), mortgage (20%), and credit reporting (18%). In the mortgage category the CFPB reported that it received approximately 51,200 complaints in 2014. The most common type of mortgage complaint (49% of total) involves problems consumers face when they are unable to make […]