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Home » Consumer Complaints About Credit Reporting Surging, Data Reveal
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Consumer Complaints About Credit Reporting Surging, Data Reveal

April 14, 2014
Consumer complaints filed with the CFPB jumped 29.1 percent in the first quarter of 2014, fueled mostly by a flood of gripes having to do with credit reporting, which leapt 79.5 percent during the period, according to a new analysis and ranking by Inside the CFPB. Year over year, the picture is even worse, with total complaints up 34.0 percent, driven by an eye-popping 125.8 percent jump in grievances with credit reporting. Such a noticeable rise in the sector is sure to capture the attention of the CFPB, which uses consumer complaints – rightly or wrongly – as a barometer for where it should dedicate its limited resources. There are economists who argue such self-reported data are inherently unreliable. The bureau has... [includes 2 exclusive charts]
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