CFPB Adds Remittance Complaints to Online Database
The Consumer Financial Protection Bureau said in a Friday release it’s gone live with an expanded complaint database that now includes remittances.
The updated database also includes complaints about credit reporting agencies, and the ability to filter complaints by state.
“This data puts valuable information in the hands of consumers to help them understand what is happening in their states,” said CFPB Director Richard Cordray. “And by adding credit reporting and money transfer complaints to the Consumer Complaint Database, we are making these important markets more transparent and accountable to all consumers.”
The vast majority of credit unions need not worry they will see their names on the CFPB’s site, because the bureau only posts complaints regarding the entities it directly supervises.
Currently, that includes only four credit unions with assets more than $10 billion: the $54 billion Navy Federal, the $27 billion State Employees’ Credit Union, the $16 billion PenFed and the $12 billion BECU.
With Friday’s addition of new categories, users can now track, sort, search and download records from among 113,000 complaints on credit cards, mortgages, student loans, accounts and services, and consumer loans, the agency said.
The CFPB said according to the database, the states that receive the most complaints are located on the East Coast.
The top states per capita by mortgage complaints are, in descending order, New Hampshire, Maryland, the District of Columbia, Georgia and Florida.
The top states per capita by credit card complaints are the District of Columbia, Delaware, Maryland, New York and New Jersey.
And, the top states per capita by bank account and service complaints are the District of Columbia, Delaware, New Jersey, Rhode Island and Maryland.