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Which financial product or service do people complain about the most? Is it credit cards? Auto loans? Mortgages? Student loans? Debt collection? The answer lies with the Consumer Financial Protection Bureau (CFPB).
Each month, more than 25,000 people contact the CFPB for help regarding financial products or services. Because the CFPB is a federal agency charged with “protecting consumers in the financial marketplace,” it has received over 1,242,800 complaints (as of mid-2017) regarding a variety of financial products and services.
Thanks to the CFPB and its detailed reporting, you can see the 10 financial products and services that frustrate everyday consumers the most.
Total complaints for debt collection
Total complaints for credit reporting
Total complaints for mortgages
Total complaints for bank accounts or services
Total complaints for credit cards
Total complaints for consumer loans
Total complaints for student loans
Total complaints for payday loans
Total complaints for prepaid cards
Total complaints for money transfers
Have a problem with a financial product or service? You can always submit a complaint.
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April 11, 2023
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