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Volume 25 - Number 24

November 24, 2014

Downloads Available: Consumer Money Transfer Complaints Filed With CFPB by Company - as of 9/30/14

Consumer Complaints About Money Transfers Down Noticeably in 3Q14

Consumer complaints to the CFPB about their money transfer transactions fell a sharp 28.4 percent industry-wide during the third quarter of 2014, according to a new analysis by Inside the CFPB. From a short-term perspective, that’s a fairly good performance. The longer-term results are more iffy. The CFPB only started collecting complaints from this sector in the second quarter of 2013, so there are just a handful of reporting periods that can be reviewed. That being said, comparing two six-month periods – the second and third quarters of 2013 versus the same periods this year – the data show an industry-wide jump of 93.7 percent. On the other hand, there are only 1,409 total complaints that have been received [with exclusive chart] ...

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