Consumer complaints across all categories sharply increased from the third to the fourth quarter of 2020. On an annual basis, gripes jumped 47.3%. Credit reports drew the most grievances while mortgage-related issues saw a relatively modest increase. (Includes data chart.)
Mortgage gripes filed with the CFPB increased by 5.4% in the third quarter, driven by criticisms regarding applications and closings. (Includes two data charts.)
A survey showed that a majority of homeowners who entered into some sort of COVID-19-related forbearance agreement still got dinged on their credit reports.
Democratic lawmakers have called for the resignation of CFPB Director Kathy Kraninger over the bureau's handling of the response to the coronavirus pandemic, particularly its oversight of mortgage servicers.
The increase was driven by a double-digit jump in gripes related to mortgage applications. Criticisms regarding servicing and loan modifications, on the other hand, dropped. (Includes two data charts.)
Consumer complaints filed with the CFPB hit a new record high in the second quarter as the coronavirus pandemic continued to impact consumers’ financial status, according to a new Inside the CFPB analysis. (Includes data chart.)
Mortgages continue to top the list of COVID-19-related complaints; tool to combat elder fraud launched; state regulators form a pandemic steering group; California Assembly Bill 2501 fails to pass.