AConsumerActionReport
TheCFPBConsumerComplaintDatabase
Alotcanbelearnedfromthemorethan600,000consumercomplaintsthathavebeenlogged
intheConsumerFinancialProtectionBureau’s(CFPB)ConsumerComplaintDatabasesinceit
launchedin2012.Examiningcomplaintsfiledbyothersaboutfinancialproductsandservices
canhelpyoumakefinanciallysavvydecisionsandpotentiallyavoidsomecostlyproblems.
Inthisreport,wehighlightfindingsfromouranalysisof2015consumercomplaintdataforsix
ofthe11financialproductstheCFPBregulates.Inadditiontosharingourresearchresults(page
6),wedescribehowthedatabaseisorganizedandfunctions(SectionI,below),explainhowto
usethedatabase(page14)andpresentourfindingsandrecommendations(page20).
I.Complaintprocessandcontent
InorderforthisreportandtheCFPB’scomplaintdatabasetobemostuseful,it’simportantto
getfamiliarwithafewimportantcomponentsofthecomplaintprocess.Since2011the
ConsumerFinancialProtectionBureauhasbeenacceptingconsumercomplaintsand
forwardingthemtothecompaniesnamedinthecomplaints.TheCFPBtrackscompany
responsesandresolutions,andanalyzesthecomplaintsforharmfulpatternsandunfairand
deceptivepractices.In2012,theCFPBmadethecomplaintsavailabletothepublicviaits
ConsumerComplaintDatabase.Itincludes11mainfinancialproducts,alongwithmanysubproducts.1
Consumerscansubmitcomplaintsonline,overthetelephone,orbymail,faxoremail.Themost
popularwaytosubmitacomplaintisonline—ofthe271,600complaintssubmittedin2015,71
percentweresubmittedthroughtheCFPB’swebsite(http://www.consumerfinance.gov/dataresearch/consumer-complaints/).
(Thecomplaintprocess.Source:wwwConsumerFinance.gov)
1
Some,butnotall,productcategoriesincludesub-products.Forexample,theMortgagecategoryincludesassubproducts:conventionalARM,conventionalfixed,FHAmortgage,homeequityloanorlineofcredit,reverse
mortgage,secondmortgage,VAmortgageandothermortgage.
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Whatinformationcanonefindinthedatabase?
TheConsumerComplaintDatabasecontainsthe:
• Datethecomplaintwassubmittedbytheconsumer
• Typeoffinancialproduct(e.g.,creditcard,creditreport,paydayloan,etc.)
• Problemorissue
• Complainant’snarrative(optionalsinceJune2015)
• Nameofcompany
• StateandZIPcode(fullorpartial)ofconsumer
• Categoryofcompany’sprivateresponsetoconsumer
Ninety-sevenpercentofconsumercomplaintsreceivearesponsefromthecompany.While
responsedetailsarenotpubliclyavailable,theyarecarefullymonitoredbytheCFPBandare
usedbytheBureautohelpprioritizetheiroversightandenforcementwork.Companieshave
thefollowingfiveresponseoptionstochoosefrom:
• Complaint“closedwithexplanation.”Seventy-twopercentofcompanyresponsesfall
intothiscategory.Forexample,aconsumerwhosubmittedacomplaintagainstacredit
cardissuerbecausehewasdeniedacreditlineincreasemightreceiveawritten
explanationthatoutlineswhyhisrequestwasnotapproved.
• Complaint“closedwithmonetaryrelief.”Thismeanstheoffendingcompanysenta
“measureable”dollaramounttotheconsumer.Monetaryreliefincludesthingslike
refundingapenaltyfee.
• Complaint“closedwithnon-monetaryrelief.”Examplesofnon-monetaryreliefinclude
thingslikecorrectingcreditreporterrors,changingthetermsofanaccountorceasing
debtcollectioncalls.
• “Closed.”Thecompanyclosedthecomplaintwithoutanyrelieforexplanation.
• “In-progress.”Thismeansthecompanyisreviewingthecomplaintbutcannotrespond
within15daysofreceivingit.(CFPBexpectscomplaintstoberesolvedwithin60
calendardays.)
Companiescanalsochoosefromahandfulofadministrativeresponseswhentheywillnotbe
addressingthecomplaintaccordingtotheusualprocessoratall(forexample,ifthecomplaint
hasbeendirectedtothewrongcompanyortheissueisthesubjectofalawsuit).
Otherinformationinthedatabaseincludes:
• Company’spublicresponse:Companiesarenotrequiredtoprovideapublicresponse,
andmostdon’t.However,thosethatdocanchoosefromninestandardizedresponses.
• Whethertheconsumerprovidedconsenttopublishthedetailsoftheircomplaint.
• Thedatethecomplaintwasforwardedtothecompany.
• Untimelyresponse:Ifthecompanydoesnotmeetthe15-daydeadlinetorespondtoa
complaint,theCFPBwillmarkitas“untimely.”
• Consumerfeedback:Consumerscanreporttheirdissatisfactionwithacompany’s
responsetotheBureau.In2015,20percentofconsumerswhosubmittedacomplaint
toCFPBdisputedthecompany’sresponse.Consumerswillhavetheoptionin2017to
useasatisfactionratingscale(onetofivestars)toprovideconsumerfeedback.
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Consumerswillalsobeabletoanswerathree-questionCompanyResponseSurveyand
choose“Stronglyagree”to“Stronglydisagree”tothefollowingquestions:
! Iunderstoodthecompany’sresponse.
! Thecompanydidwhatitsaiditwoulddo.
! Thecompanyaddressedallofmyissues.
Thenewcompanyratingsystemwillalsoincludeaboxwhereconsumerscanadddetailsasto
whytheyaresatisfiedordissatisfiedwithacompany’sresponse.Consumerscanchooseto
havethesefeedbackdetailsreportedpublicly,alongsidetheiroriginalcomplaintnarrative.
What’snotinthedatabase?
Thedatabasedoesnotcontain:
• Complaintsthatarethesubjectofalawsuit
• Complaintsreferredtootherregulators
• ComplaintsaboutcompaniesnotsupervisedbytheCFPB
• Complaintsreportedbyacompanyasthe“incorrectcompany”listedinadispute
Complaintnarratives
SinceJune2015,consumershavehadthechoicetoincludea“narrative,”orpersonalwritten
explanationofwhattheircomplaintisabout.Consumernarrativesaretheheartofthe
complaint—theyexplainwhyaconsumerispursuingaproblem,usingtheindividual’sfirsthand
experiencetoallowotherstounderstandtheissue,puttheproblemincontextandidentify
harmfulpatternsacrosscomplaints.OnlyconsumerswhogivetheBureauwrittenpermission
havetheirdetailspostedinthedatabase.In2015,59percentofconsumersvoluntarilyshared
theircomplaintdetailswiththepublic.
Examplesof2015complaintswithnarrativesinthedatabase:
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Howcannarrativesbevaluable?
• Narrativesputissuesincontext,allowingthepublictoassessthevalidityofacomplaint
anddrawtheirownconclusions.
• Complaintdetailsofferamorevividpictureoftheproblemthatcannotbegleanedfrom
otherdata.
• Theyprovidecontextforacompany’sbehavior.
• Narrativescanhelpexposeharmfulpatterns,suchasdiscriminatorypractices.
• TheCFPBreliesoncomplaintdetailstostayabreastofrecurringproblemsandtocreate
newrulestopreventharmfultrendsinthefuture.
• Theycanbeavaluablepre-purchaseresourcetohelpconsumersmakeinformed
decisionsaboutwhotodobusinesswith.
• Narrativesandcomplaintresolutions(orlackthereof)canhelpshapeothers’
perceptionsofacompany.Companiesthatresolvemattersswiftlymaybenefit
financiallybyboostingtheirpublicreputation.
Redactionprocess
CFPBhasa“scrubbing”processthatredacts,orremoves,certaindetailsfromthecomplaint
narratives.Thisisdonetoprotectconsumers’identityandpersonalinformation.Whenadetail
is“scrubbed,”itappearsinthedatabaseasaseriesofXs(“XXXX”).
Here’sthetypeofpersonalinformationthattheCFPBremoves:
• Name,age,race,ethnicity,sexuality,religion,disabilitiesandmedicalconditions
• Namesofcompaniesnotdirectlyrelatedtothecomplaint
• ZIPcodes(entirelyredactedincomplaintsfromconsumersinsmallcommunities,or
oftenjustthefirstthreedigitswillremain)
• Employmentinformation
• SensitivenumberssuchascreditcardaccountnumbersandSocialSecuritynumbers
• Offensivelanguage
Exampleofwhataredactednarrativelookslikeinthedatabase:
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Howcompaniesrespondtocomplaints
Oncetheconsumersubmitsthecomplaint,theCFPBreviewsitandsendsitofftothecompany
named.Thecompanyhas15daystorespond,andtheyareexpectedtoresolvethecomplaint
within60daysofitbeingsent.
Companiesrespondedtoapproximately97percentofcomplaintssenttothemin2015.
Companies’privateresponsestoconsumers,andtheCFPB,mayincludeanexplanationofthe
actionstheyhavetakenorplantotake.Companiesalsomustchoosetofiletheirresponse
underoneofthefollowingcategories:“Closedwithmonetaryrelief,”“Closedwithnonmonetaryrelief,”“Closedwithexplanation,”“Closed,”“Inprogress”orahandfulof
administrativeoptions(forexample,“Incorrectcompany”or“DuplicateCFPBcasereported”).
Forthepurposesofthisreport,wefocusedon“Complaintclosedwithexplanation,”
“Complaintclosedwithmonetaryrelief”and“Complaintclosedwithnon-monetaryrelief.”
Publiccompanyresponses
Additionally,companiescanchoosetorespondpubliclyintheconsumercomplaintdatabase
withoneofthefollowingninestandardizedpublicresponses.Mostcompaniesdon’tprovidea
publicresponse.
1. Complaintcausedprincipallybyactionsofthirdparty
2. Complaintistheresultofanisolatederror
3. Complaintrelatestoadiscontinuedpolicyorprocedure
4. Companybelievescomplaintrepresentsanopportunityforimprovementtobetter
serveconsumers
5. Companybelievesitactedappropriatelyasauthorizedbycontractorlaw
6. Complaintisaresultofamisunderstanding
7. Can'tverifyordisputethefactsinthecomplaint
8. CompanyhasrespondedtotheconsumerandtheCFPBandchoosesnottoprovidea
publicresponse
9. Companydisputesthefactspresentedincomplaint
(Source:Figure21fromtheCFPB’s2015ConsumerResponseAnnualReport)
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Note:Thenumberofcomplaintsacompanyreceivesisrelativetocompanysizeandmarket
share.TheCFPBdoesnotadjustcomplaintdatabasedonnumberofcustomersoranyother
measure.Forstep-by-stepinstructionsforusingthedatabase,seepage14.
II.2015complaintdataoverview
Weexaminedthedatabasetohelpyoubetterunderstandhowtousethisfirst-ratecomplaint
toolandtolearnhowcompanieshaverespondedtotheconsumercomplaintsthey’vereceived.
Wefocusedon2015complaintdatafromsixofthe11financialproductstheCFPBregulates:
debtcollection,creditreporting,mortgages,bankaccountsandservices,creditcardsand
studentloans.Thebulkofthedatawereviewedcomesdirectlyfromthecomplaintdatabase
andfromtheCFPB’s2015ConsumerResponseAnnualReport(January1,2015-December31,
2015).
BankAccountsandServices
Bankaccountandservicecomplaintsaccountfor8percentofallcomplaintsreceivedbythe
CFPBin2015.Thisincludescomplaintsaboutcheckingaccounts,savingsaccounts,certificates
ofdepositandcheckcashingservices.Thetopthreetypesofbankaccount/servicecomplaint
were:
• Accountmanagement(includesopeningorclosinganaccount)(42%)
• Depositsandwithdrawals(26%)
• Makingandreceivingpayments(13%)
ExamplesofactualbankaccountandservicecomplaintsreceivedbytheCFPBin2015:
Problemwithaccountmanagement:
—ThebankwillNOTletmeclosemyaccounteventhoughithasbeennochargeforthe
checkingaccountandnowRegionsBankhaschargedmeamonthlyfeewithoutusing
theaccount.Iwaswaitingforthedirectdeposittostartdepositingintomynewbank
accounttoclosetheaccount.NowIpresumetheywillkeepchargingmeamonthlyfee
b/cIhaveanegativebalance.
Problemwithdepositingorwithdrawingfunds:
—Weclosedonahomeandneededtoforwardthefundstoourcurrentmortgage.We
hadtheescrowofficerdeposittheamounttoourWellsFargoaccountasacashiers
checksoitwouldbeavailablewithinadaybuttheyareholdingitformorethanseven
days!Ourescrowofficersaidthatwasillegaltodetainourfundsandsowearefollowing
upwiththeappropriateagency'sinvolved.
Problemmakingorreceivingpayments:
—ApayeetowhomIwroteacheckerroneouslycashedthechecktwicefordifferent
amounts.IcalledSunTrusttoaddresstheissueandoveramonthlaterithasnotbeen
addressed.
Howdidcompaniesrespondtobankaccountandservicecomplaints?
• 18percentofconsumersreceivedmonetaryrelief,atanaverageof$105percomplaint.
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•
•
2percentreceivednon-monetaryrelief,suchasachangeinaccounttermsorthereopeningofanaccount.
72percentreceivedanexplanationfromthecompany.
Companieschosenottopubliclyrespondto94percentofthebankaccount/servicecomplaints
theyreceived.Ofthosetheydidrespondtopublicly,in4percenttheystatedthatthey“acted
appropriatelyasauthorizedbycontractorlaw.”Lessthan0.5percentofthecomplaintswere
attributedto“anisolatederror.”
CreditCards
Creditcardcomplaintsaccountfor8percentofallcomplaintsreceivedbytheCFPBin2015.
Thetopthreetypesofcreditcardcomplaintswere:
• Billingdisputes(16%)
• Other(e.g.,deferredinterestprograms,decreasedcreditlimit2)(12%)
• Identitytheft,fraud,embezzlement(11%)
Examplesofactualcreditcardcomplaints:
Problemwithaccountmanagement:
—ReceivedaletterstatingmyChaseCreditCardwasgoingtoexpirewithinthenext
twomonths.Sincethecardhadnotbeenusedwithin[several]years,theywereclosing
theaccountwhenitexpires.ItwentontosayifIwouldliketokeepthisaccountopen,
pleasecallandtheywouldreview.Icalledandaftergivingthemmyincomeand
informationtheywerewillingtokeepthecardopenat$1,000limitwhereasbeforeit
was$6,500.TheyalsowentonandreducedmyothercardsfromChaseaswelltaking
thelimitfrom$5,000to$1,000.Whattheseactionshavedoneisdrasticallyreducemy
creditscorefromgoodtobelowaverageofwhichItoldthemso,buttheydidn'tcare
statingthatwasmyproblem.
Problemwithbillinginaccuracies:
—WehaveaBankofAmericacreditcardandeverymonthIsetupthepaymenttobe
takenfromourcheckingaccount.ThismonthIsettheamounttobepaid($8,700)to
comeoutofourcheckingaccountontheduedate.Itdid.Thetotalamountduewas
$8,700.However,theyalsodeductedanother$8,700fromourcheckingaccount.
Fortunately,wehadjustsoldourhouse,sowehadmoneytocoverthedoublepayment!
Icalledthemandaskedthemtoputthemoneyback.Iwastolditwouldtake[several]
businessdaystodoso.Wewerenevergivenanexplanationonhowthishappened,
compensatedfortheuseofourmoney,whichIfeelisonlyfair.Ifwehadnotsoldour
house,thiswouldhaveputourfinancesandotherpaymentstakenfromourchecking
accountinseriousjeopardy!Mygreatestfearisthatthismighthappenagainwiththem.
Problemwithfraud:
—Fraudulentchargesweremadetomycreditcard.Ihadnumerousphone
conversationswith[customerservice]assuringmethatitwouldberesolvedinmyfavor.
2 CFPBOct2015MonthlySnapshot,p12(http://files.consumerfinance.gov/f/201510_cfpb_monthly-complaintreport-vol-4.pdf)
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NowIaminformedthatbecauseIdidnotcontacttheminwritingIamliableforthe
fraudulentchargestotaling$26,000.00.
Problemwithaccountsbeingclosedwithoutknowledgeorconsent:
—Citibankclosedmyaccountwithoutanynoticeorabilityformetotakeactionthat
wouldavoidtheclosure.Ibelievethisisanexampleofunfairanddeceptivebusiness
practices.Myaccountwasingoodstandingandopensince1998.Citibankclaimedthat
theaccountwasclosedduetoinactivity.Thereisnothinginthecardmemberagreement
thataddressesthistopic,norhasCitibankdisclosedtheirpoliciesregardingcard
inactivity.
Howdidcompaniesrespondtocreditcardcomplaints?
• 19percentreceivedmonetaryrelief,atanaverageof$100percomplaint.
• 11percentreceivednon-monetaryrelief,suchasacreditlinerestoredorremoved,a
changeinaccounttermsorrates,orhavingasubmissiontoacreditbureaucorrected.
• 64percentreceivedanexplanationfromthecompany.
Companieschosenottopublicallyrespondto97percentofthecreditcardcomplaints
received.Ofthosetheydidrespondtopublically,in2percenttheystatedthatthey“acted
appropriatelyasauthorizedbycontractorlaw.”Lessthan1percentofthecomplaintswere
thoughttobetheresultofan“isolatederror.”
CreditReporting
Creditreportingcomplaintsaccountedfor20percentofallcomplaintsreceivedbytheCFPBin
2015.Thetopthreetypesofcreditreportingcomplaintwere:
• Incorrectinformationoncreditreport(79%)
• Creditreportingcompany’sinvestigation(8%)
• Unabletoobtaincreditreportorscore(6%)
Examplesofactualcreditreportingcomplaints:
Problemwithincorrectinformationoncreditreport:
—Backgroundscreeningforleaseonnewhouseturnedupwithsomeoneelse’ssocial
securitynumber.
Problemwithcompany’sinvestigation:
—AcollectionaccountfromXXXXhasbeenmisreportedonmycreditreportwith
Equifax.IhavedisputedthiswithEquifaxforoverXXXXyearsanditstillremains.This
collectionaccounthasbeenremovedfrombothXXXXandXXXXandXXXXcompanies
havesharedthisinformationwithEquifax.However,itstillremainsonmyfilewith
Equifax.IevenspokewithasupervisoratEquifaxaboutthis.It'stimetheyreceivea
$1,000finefornon-complianceofFTCregulations.
Problemobtainingacreditreport:
—I’veattemptedtopullmyfreeannualcreditreportfromBigXXXXCreditBureauon
XX/XX/2015.IwasabletopromptlyreceivemycopiesfromXXXXandXXXX,butIcould
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notobtainacopyfromEquifax.AfterImadeaphonecalltoseekhelpIwastoldthey
couldnothelpmeandtheyhadtochargeme$XXXXtoobtainacopy.
Howdidcompaniesrespondtocreditreportingcomplaints?
• Almostnoonereceivedmonetaryrelief;thesmallnumberwhodidreceivedanaverage
of$23percomplaint.
• 25percentreceivednon-monetaryrelief,includinghavingsubmissionstocredit
reportingagenciescorrectedorhavingacustomerserviceissueresolved.
• 70percentreceivedanexplanationfromthecompany.
Companieschosenottopubliclyrespondto99percentofthecreditreportingcomplaintsthey
received.Ofthosetheydidrespondtopublicly,inlessthanhalfapercent(0.36)thecompany
thoughttheissuewascausedby“theactionsofathirdparty”andin0.22percentthecompany
thoughtthey“actedappropriatelyasauthorizedbycontractorlaw.”
DebtCollection
Debtcollection(medical,creditcard,paydayloanandother)complaintsaccountfor31percent
ofallcomplaintsreceivedbytheCFPBin2015.Thetopthreetypesofdebtcollectioncomplaint
were:
• Attemptstocollectdebtnotowed(40%)
• Communicationtactics(18%)
• Disclosureverificationofdebt(15%)
Examplesofactualdebtcollectioncomplaints:
Problemwithanattempttocollectadebtthatisnotthecomplainant’s:
—IpaidthismedicalaccountinfullwiththeoriginalcreditorandIwasassuredthatthe
collectionsentryweregoingtoberemovedcompletelyfromallcreditbureaus’reports.
Thecollectionagencyisrefusingtoremovetheentryafterafullpaymentwasmadeto
theoriginalcreditorandthecollectionagencyisreportingtheaccountasapaid
collectioninsteadofremovingtheaccountasIwastoldandagreedto.
Problemwithdebtcollectors’communicationtactics:
—EnhancedRecoveryCompanyhasbeencallingmyphonenon-stopoverthelast
severalweeks,presumablyaboutadebttocollect.Theyrefusetotellmespecifically
whatthecallsareaboutotherthana“personalbusinessmatter.”IhavemadeitVERY
cleartothemthatwehavenobusinessiftheycan’tprovidefurtherdetails.Iwantthe
harassmenttostop.CallsalwayscomewhileIamatwork,wastingmytime,andmy
customers’time.
Problempertainingtodisclosureverificationofdebt:
—Acompanyistryingtocollectmanymedicaldebts,whicharealsolistedonmy
personalcreditreport.Ihaverequestedseveraltimesforverification.Thiscompanywill
notfurnishasignedauthorization[orproofoftheprocedures],theyjustfurnisha
statement,whichprovesnothing.Iaskedtovalidatethenumerouslistingsonmy
personalcreditfileandagainallIreceiveisstatements.ManyyearsagoIhad[several]
medicalbills,buttheywerepaidyearsago.
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Howdidcompaniesrespondtodebtcollectioncomplaints?
• 1percentreceivedmonetaryrelief,atanaverageof$317percomplaint.
• 15percentreceivednon-monetaryrelief,includinghavingdebtcollectioncallsorother
companycontactstoporhavingsubmissionstoacreditbureaucorrected.
• 67percentreceivedanexplanationfromthecompany.
Companieschosenottopublicallyrespondto78percentofthedebtcollectioncomplaintsthey
received.Ofthosetheydidrespondtopublically,in14percenttheystatedthatthey“acted
appropriatelyasauthorizedbycontractorlaw.”Twopercentofthecomplaintswerebelieved
tobe“aresultofamisunderstanding,”and2percentcontaineddetailsthatthecompany“can’t
verifyordispute.”Onepercentofcomplaintsthatreceivedapublicresponseweretheresultof
the“actionsofthirdparty.”
(Source:TheCFPB’s2015ConsumerResponseAnnualReport)
Mortgages
Mortgagecomplaintsaccountfor19percentofallcomplaintsreceivedbytheCFPBin2015.
Thisincludescomplaintsregardingconventionaladjustableratemortgages,fixedrate
mortgagesandreversemortgages.Thetopthreetypesofmortgagecomplaintwere:
• Problemswhenunabletopay(43%)
• Makingpayments(37%)
• Applyingfortheloan(9%)
Examplesofactualmortgagecomplaints:
Problemrelatedtoinabilitytopayorobtainaloanmodification:
—IhavebeentryingtoworkwithCitimortgagetoobtainaloanmodificationtostayin
myhome.Howevertheyhavenotbeenwillingtohelpme.Theservicedepartmenthas
lostmyfileXXXXdifferenttimesandclaimedthatIneverstartedaloanmodification.
TheyhaveissuedmejustinthelastsevenmonthsXXXXdifferentcustomersupport
specialistwhowouldnotreturnmyphonecallsandwouldnotreturnemailinatimely
manner.Outofthebluetheypulledheroutofthecaseandthenwegotadifferent
representative,whoseemedtobeverykind,understanding,andveryaccommodating.
WithXXXX,overthelastseveralmonthswewereabletogetallofthedocumentationto
herinordertocompletetheloanmodification.XXXXindicatedthatshehassubmittedall
thepaperworktounderwritingdepartment.XXXXgavemethereassurancethatshe
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woulddoanythingthatshecouldtokeepmeinmyhome.CitiMortgagewentahead
againandswitchedcustomersupportspecialistto(XXXX)whichwillnotreturnour
phonecallsoremails.Ihavecalledhereveryday,Iwasluckyonedayandsheactually
pickedupthephone.Sheaskedmyinformationandmyloannumber,assoonasshe
identifiedwhoIwasshestatedthatshewasontheotherline.Ithasbeenoveraweek
andIhavestillhaven'theardbackfromXXXX.IjustreceivedaletterfromXXXXand
XXXX,whichisafirmthathasbeenretainedtoconductanon-judicialforeclosuresale.I
amabsolutelyshocked,IwasjusttoldthirtydaysagothatallofthepaperworkthatI
submittedlookedverygoodandtheyweregoingtodoanythingtokeepmeinmyhome.
Nowmycasehasbeensentovertoalawfirmforforeclosureproceedings.Iknowthisis
definitelyagainstthelaw,andtheyarecommittingfraud.Theyhavenottriedtohelp
me,theydon'tcommunicatewithme,theykeepswitchingmyfilearoundtodifferent
individualswithinthecompanywithnoresolution.
Problemwithmakingpayments:
—PennyMacconsistentlymisappliesmypayments.Igenerallypaymorethanthe
minimum.Theyapplyitalltoprincipal,addlatefees,callmeforpayment,whenthefull
amount+isalwayssentinWAYbeforetheduedate.ThenIhavetospendtoomuchtime
onthephonegettingfeesreversedandexplainingtothemhowtoapplythepayment
correctly.Ifitdidn’tcostmemoney,Iwouldswitchcompaniesinaheartbeat.
Problemapplyingforamortgage:
—AmerisaveMortgageCorporationofferedmeaveryattractiveinterestratefor
refinancingmymortgage.Iwentaheadandappliedfortheloanastheyguaranteedrate
lockforaperiodof60days.Theyaskedmetopay$420.00forpaymenttowards
appraisalimmediately.Ialsosubmittedonlineallthedocumentstheyrequested.Then
theysatonmyapplicationforalmosttwomonths.WhenIfollowedup,theysaidthey
werebusywithtoomanyapplicationsandofferedtoextendratelocksincetheywere
delayingit.Theydidextendbutkeptdelayingitfurtherandcomingbackandasking
somedocumentorother.TodaytheysentmemailsayingthatratelockexpiredandIwill
havetogoforwhateverrateexistsnow.Ontopofittheyarealsoaskingmetopayfor
appraisalagainsayingthatmyappraisalreportexpired.
Howdidcompaniesrespondtomortgagecomplaints?
• 3percentreceivedmonetaryrelief,atanaverageof$500percomplaint.
• 5percentreceivednon-monetaryrelief,includingbeingofferedforeclosurealternatives
(withoutdirectmonetaryvalue)orhavingacustomerserviceissueresolved.
• 81percentreceivedanexplanationfromthecompany.
Companieschosenottopublicallyrespondto87percentofmortgagecomplaints.Ofthose
theydidrespondtopublically,in8percentthecompanybelievedit“actedappropriatelyas
authorizedbycontractorlaw.”Onepercentofthecomplaintswerebelievedtobetheresultof
“anisolatederror.”
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StudentLoans
Studentloancomplaintsaccountedfor3percentofallcomplaintsreceivedbytheCFPBin
2015.Thetopthreetypesofstudentloancomplaintwere:
! Dealingwithlenderorservicer(62%)
! Can’trepayloan(33%)
! Gettingaloan(5%)
Examplesofactualstudentloancomplaints:
Problemdealingwithlenderorservicer:
—Iamaco-signeronmyson'sstudentloan.DuringtheconsolidationprocessWells
Fargoadvisedusnottomakeapayment,andthatalatefeewouldbeassessed.After
theloanwasconsolidated,Icalledtohavethelatefeereversed—itwasnot.The
inclusionofthelatefeecausedtheprincipalbalanceandtheminimumpaymenttobe
greaterthanitotherwisewouldhavebeen.Ihavebeenrepeatedlypromisedthatthe
errorwouldbecorrected.Ithasnotbeencorrected.Inaddition,thereisnowaytosetup
automaticpayments,oraccessaccountinformationwithoutmyson'spermissioneven
thoughIamaco-signerontheloan.
Problemrepayingaloan:
—AESrefusestoassistmewithareasonablepaymentoptionformyALPLNloan.Iam
notabletomakethecurrentamount(itisanentirepaycheckatmycurrentwage)and
theysimplystatethereisnootheroption.Ifthecurrentsituationcontinuesitwillcause
greatunduehardshipuponmyfamilyandme.TakenotethatIhavemadetimely
paymentssinceforyearsnow.Isincerelyaskedthattheyprovidemewithanother
optionandtheystatedIhadusedallmyoptions.Theyofferedtoloweranotherloan
amount(onlytemporary),butofcoursethatwouldleadtopayingagreateramountof
interestonthatloanleavingmeworseoffthanIamcurrently.Iwanttorepaymydebt
howevertheymakeitimpossible,theinterestratesarecompletelyunaffordable.
Problemapplyingforaloan:
—Iappliedtohavemystudentloanrefinanced...andthecompanyquotedmeatarate
of5.2%,butwhentheloanwasapprovedtheratewasincreasedto6.86%withno
explanationeventhoughIhaveanexcellentcreditscore.WhenIaskedthe
representativetoinvestigatewhytheratechangedshesaidshewouldcheckwiththe
underwritingdepartmentandgetbacktome.Thatwastwoweeksagoandnowsheis
ignoringme.Thisisaclassicexampleof“bait&switch.”
Howdidcompaniesrespondtostudentloancomplaints?
• 5percentreceivedmonetaryrelief,atanaverageof$173percomplaint.
• 6percentreceivednon-monetaryrelief,includingreceivingachangeinaccountterms
orhavingacustomerserviceissueresolved.
• 83percentreceivedanexplanationfromthecompany.
Companieschosenottoprovideapublicresponse78percentofthetime.Ofthosetheydid
respondtopublically,insixpercentofthecasesthecompanybelievedthecomplaintwasdue
to“actionsofthirdparty,”andin5percentthecompanybelievedit“actedappropriatelyas
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12
authorizedbycontractorlaw.”In1percent,thecompanythoughtthecomplaintwasduetoan
“isolatederror.”
(Source:TheCFPB’s2015ConsumerResponseAnnualReport;maynottotal100percentduetorounding)
Whentousethedatabase
Beforepurchase/use
Reviewingcomplaintnarrativesbeforedoingbusinesswithaparticularcompanycanhelp
consumersevaluatethecompanybasedonothers’firsthandexperiencesandavoidproblems.
Forexample,Sofia,fromNewYork,waslookingforamoneytransferservicetosendand
receivemoneyforasidebusiness.ShedecidedtousetheCFPBdatabasetoreviewcustomers’
experienceswithMoneyGramandWesternUnion,twomoneytransferbusinesses.Shefiltered
complaintsfirstbycompany,andthenbycomplaintnarrativesfromNewYork.Shenoticedthat
therearenearlythreetimesasmanyfraudandscamcomplaintsforMoneyGramasthereare
forWesternUnion(despiteWesternUnionbeingthelargercompany),sodecidedtochoose
WesternUnionforherbusiness.
Afterpurchase/use
Consumersmightalsoexaminedatabasedetailstoevaluateacompanythey’recurrentlyhaving
problemswithtocomparetheirexperiencewiththatofotherconsumers.Thedatabasealso
allowsconsumerstoreportunreasonable,unfairordeceptivepracticesandalertothers.
Forexample,JohntookoutastudentloanwithWellsFargofiveyearsago.Dueto
unemploymentaftergraduation,hestruggledtomaketheloan’smonthlypayments.Hetried
numeroustimestorefinancehisloantolowerthemonthlypayments.Despitemultiplephone
callsandemails,thebankcontinuedtorefusehisrequesttomodifytheloan.Hefilteredthe
CFPBdatabasetoreviewstudentloancomplaintswithWellsFargoandreadsomeofthe
consumernarratives:
—SincegraduationIhavestruggledtopaymystudentloans,duetotermsof
unemploymentandlow-wagepayingjobs.IaminabettersituationthanIwassixyears
agobutstillstruggletopaymymonthlypayment.Thishasbroughtdownmycreditand
increasedtheinterestonmyloan.Ihavetriednumeroustimestorefinancemyloanto
bringdownthepaymenttoamoremanageablemonthlyrate,eachtimeWellsFargo,
whoholdsmyloans,deniedtherequest.WiththisIamonthevergeofgoinginto
defermentwithmyloans.Thisisanissuemanyofusourdealingwith.Whocanhelpus?
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—Threeyearsago,whenmyspouselostherfulltimejob,Istartednegotiatingwith
WellsFargotorefinanceastudentloanorlowertheinterestrateorincreasethe
remainingperiodtoreducetheminimummonthlypaymentamountbecauseitisvery
hardformetopay.Theyneveragreed,buttheyfrightenedmebythreateningto
increasetheinterest,whiletheinterestissupposedtobefixed!!Isthereasolution?
Basedondatabasedetails,JohndecidedtofilehisowncomplaintwiththeCFPBandincludehis
ownnarrative,hopingtoreceivehelptorefinancehisstudentloan.Healsohopedtoalertthe
CFPBandotherconsumersofWellsFargo’sreluctancetorefinancecustomerswhoare
strugglingtopaytheirloans.
III.HowtousetheConsumerComplaintDatabase
1. GototheofficialConsumerFinancialProtectionBureauwebsite:
(http://www.consumerfinance.gov).
2. Clickon“Data&Research”intheheaderandselect“ConsumerComplaintDatabase”from
thedropdownlisttoviewthedatabase.(Tosubmitacomplaint,choosethebluelinkinthetop
rightcornerofthehomepage.)
Alternatively,youcanscrolldownthepage(seegraphicbelow)andclickonthe“Browsepublic
complaintsaboutcompanies”linkunder“Submitacomplaint.”
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3. Thecomplaintdatabasehomepageoffersyouthreeoptions:
(1)Readconsumernarratives;(2)Viewcomplaintdata;or(3)DownloadoptionsandAPI.
Option1:Ifyouchoose“Readconsumernarratives,”youwillseeonlycomplaintswhere
consumershaveincludedacomplaintnarrative(complaintdetails).Thisviewalsoreveals
thecompany’sstandardizedresponse,ifany.
Option2:Toviewallcomplaintdataforallfinancialproducts/services,clickonthemiddle
icon,“Viewcomplaintdata.”Usershavetheabilitytofiltercomplaintsbyproduct,by
narrativeandbyothercategoriesofdata.
Option3:ThisoptionallowsuserstodownloadallcomplaintdataintoanExcelfile.This
optionistypicallyusedforin-depthresearch.
(Continuesonnextpage)
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4. WhileontheConsumerComplaintDatabasehomepage
(http://www.consumerfinance.gov/data-research/consumer-complaints/),youcanscroll
downtotherowoficonstoreviewcomplaintdetailsbyproductcategory.Forexample,a
consumercanclickonthe“Creditreporting”icon(hoverovereachiconwithyourcursorto
seethecategorynameappear),thenthe“SeeCreditreportingcomplaintdata”linkbelow
toseeonlythedataforthatcomplaintcategory.
5. Youcanfilterthecomplaintinformationusingthe(1)grayheaderor(2)thefiltertoolinthe
blueboxontherightsideofthescreen.
The(1)grayheader(rowabovecomplaintlistings)liststhedifferentcategoriesofdata.Youcan
organizethedatainascendingordescendingorder(forexample,fromAtoZorfromZtoA)as
wellasfilternarrativesaccordingtothecorrespondingsub-categoriesthatpertaintoyour
search.Ifyouareinterestedinseeingnarrativesthatcomefromaparticularstate,Maine,for
example,choose“ME”fromthedropdownlistthatappearswhenyouclicktheMenuiconto
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therightoftheword“State”andthenselect“FilterThisColumn.”Or,ifyouareinterestedin
seeingalltheinformationinthedatabaseinalphabeticalorderaccordingtostate,choose“Sort
Ascending.”Toremoveafilter,clickonthesmallred“T”symbolinthegraybarorselect“Clear
Sort”fromthedropdownmenu.Thenyoucanchooseanotherfilter.
6. Thebluefilterboxontherightsideofthebrowserscreen(clicktheblueFilterbuttonabove
thegrayheaderifitdoesn’tappearautomatically)canbeusedwhenperformingmorecomplex
filtering.Theboxallowsformultiplefilterconditionstobeappliedtothedataatonce.Youcan
“AddaNewFilterCondition”andchoosecriteriathatwillfilteroutanyentrythatdoesnot
matchyoursearchconditions.Forexample,show“Creditreporting”complaintsdealingwith
“Incorrectinformation”by“Year.”Usetheword“contains”insteadof“is”toavoidrelevant
databeingfilteredoutduetoslightvariationsintext(anextraspace,differentcapitalization,
etc.).Forexample,ifyouwanttoreadcomplaintswhere“Fraudorscam”isthesub-issuebut
youchoose“Sub-issue”“is”fromthefiltermenuandwritejust“fraud”inthesearchbox,your
searchwouldturnupnoresultssincethesub-issueis,bydefault,“Fraudorscam.”Ifyou
insteadconductedasearchthatlookedfor“Sub-issue”“contains”“fraud,”yoursearchwould
generatetheresultsyouarelookingfor.Avoidaddingextraspacesatthebeginningorendof
yoursearchtermstopreventerrors.
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7. Afterfilteringthecomplaints,youcanbrowseandevensaveyourfilteredsearch(ifyouset
upafreeaccountbeforesearching).
(Continuesonnextpage)
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8. Forthebestresultswhensearchingforcomplaintsaboutacompanythatisownedby
anothercompany,searchthe“Consumercomplaintnarrative”column,notthe“Company”
column.Whenaddingafiltercondition,choose“Consumercomplaintnarrative”andchoose
“contains”fromthedropdownmenu.Thentypethedesiredcompanynameinthesearchbox.
Insomecases,thenamesofcompaniesthatareownedbyothercompanieswillonlyappearin
the“Consumercomplaintnarrative”columnbecausethe“Company”columnliststhenameof
theparentcompany(forexample,withprepaidcardsandspecialtyconsumerreporting
bureaus).
(Continuesonnextpage)
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IV.Findingsandrecommendationsforthe
CFPBConsumerComplaintDatabase
ConsumerActionhasworkedtoencouragetheCFPBtomakeitspubliccomplaintdatabaseas
useful,transparentandpowerfulaspossible.Overthelastfiveyears,theBureauhasexpanded
thedatabase’sfunctionsandinformation.Itsexistenceisanimportantwayforconsumersto
evaluateabusinessandalertotherstoproblems.However,webelievethereismoreworkto
bedonetomakethisfirst-ratetoolevenmorehelpfultoconsumers.
ConsumerAction’sreviewoftheCFPBcomplaintdatabasefoundittobe“clunky”touseat
timesandaestheticallyuninviting.Whenfilteringthedatatotargetasearchweoftenhadno
resultsappear;thetoolwassensitivetospacingvariationsandsometimesdifficulttouse.We
oftenhadtorestartoursearch,whichwastestimeandfrustratesuser.
Informationaboutcomplaintoutcomesissparse.Mostoftheverylimitedinformationon
complaintresolutionswasfoundintheCFPBConsumerResponseAnnualReport,andeven
theredetailsareinsufficient.Consumerscannotlearnwhatsolutionsareworkingwithcertain
companiesandcanacquirenofindingsonwhyconsumersdisputecomplaints(nowcalled
“feedback”).(TheBureauplanstoaddaconsumersatisfactionratingscaleandnarrativewhere
complainantscanratehowpleasedordispleasedtheywerewiththeoutcomeoftheir
complaintandexplainwhy.)
Whileconsumersreceiveresponsesfromcompanies97percentofthetime,purecomplaint
resolutionsaredismallylow.AsofJanuary2016,only6percentofcomplaintsreceived
monetaryreliefand12percentreceivednon-monetaryrelief.Amountsofmonetaryreliefvary
bycategory(PrepaidCards:24percentmonetaryrelief;Mortgages:3percent).Private
explanationsfromthecompanytotheconsumeraccountedfor72percentofresponses.These
mightincludethingslikewhytheconsumerdidnotreceiveacreditlineincrease,whythey
weredeniedaloanorhowthebank’soverdraftprocessworks.
Theseissuesdonotnegatethevalueofthedatabase.Itcontainscriticalinformationforboth
consumersandregulators.Forexample,ourinternlearnedfromstudyingthecomplaint
narratives(detailsofthecomplaint)thatmanyconsumersstruggletohavecreditreporting
errorsremovedfromtheircreditbureaufiles.Thisexposedhimtotheneedtocheckhiscredit
reportsregularlytoensureaccuracy,especiallysinceaconsumer’saccesstoloansandcredit
(oftenjobsandinsurance)arereliantonthedatainourcreditreports.Likewise,regulatorsare
abletolearnfromthedatahowwellthemarketisworking,particularlyinregardtoindividual
companies’financialproductsandservices,bothingeneralaswellasindistinctcommunities.
Basedonwhatwe’velearned,we'vecompiledalistofsuggestionstoimprovetheutilityofthis
valuabletool.
1. Includeallcomplaints.AllcomplaintsfiledwiththeCFPBshouldbepartofthepublic
database,includingcomplaintsreferredtootheragenciesorinvolvedinalawsuit.All
complaintsshouldalsobelistedbythespecificcompanytheconsumercomplained
about,notonlybytheparentcompany’sname.
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2. Increaseandimproveinformationonconsumerrelief.
a. Addin-depthreliefandresolutioninformation.Thisinformationisnotcurrently
availableinthedatabase,andverylimitedreliefinformationisintheCFPB’s
complaintannualreport.
b. Includedetailsabouttheresolutionsconsumershavereceived:
i. Monetaryrelief:Showdollaramountsreceived,thetypeofcomplaint
filedandthecompanyinquestion.
ii. Non-monetaryrelief:Listthespecificactiontakenbythecompany(for
example,“Errorremovedfromcreditbureaurecords,”“accountterms
changed,”etc.).
3. Releaseexplanations.Seventy-twopercentofconsumersin2015receivedan
explanationfromthecompanyinresponsetotheircomplaint.Detailsfromthese
explanationsshouldbetransparenttoconsumers.TheBureaushouldprovidethe
publicwiththeprimaryexplanationsconsumersarereceiving(examplesmightinclude
whyacreditlinewasnotincreasedoraloanwasdenied).Ifcompaniesarenot
providingcomplainantswithtailoredresponsesasrequired,theBureaushould
publicallydisclosewhichcompanieshavenotcomplied.Thisishelpfulinformationfor
consumerswhoarechoosingwhichcompaniestoworkwith.
4. Includedetailsinpubliccompanyresponses.Ifacompanybelievesthatathirdparty
wasatfault,itwouldbehelpfultolearnspecificsfromthecompany’sperspective.This
wouldhelpdistinguishlegitimatecompanyclaimsfromthosethattakeadvantageof
theopportunitytoshiftresponsibilitytoanotherparty.
5. Notethird-partyreferrals.Creditbureaus,debtcollectionagenciesandother
companiesthatfrequentlyrespondtoconsumercomplaintsbyattributingresponsibility
toathirdpartyshouldbecompelledtoprovidetheconsumerwiththenameand
contactinformationofthethirdpartytoexpeditecomplaintresolution.
6. Improvecommunicationwithcomplainants.Ifacompanydoesnotrespondtoa
consumercomplaint,theBureaushouldreportitinthedatabaseas“Noresponse.”This
shouldincludecompaniesthatdonotrespondwithin60daysofreceivingacomplaint.
Itshouldbeeasyforconsumerstoseethepercentageofcomplaintstowhichaspecific
companydoesnotrespondinatimelymanneroratall.
7. Revealthecompany’scomplainthandlinghistory.TheBureaushouldmakeitpossible
forconsumerstoclearlyseeinthedatabasehowindividualcompaniesarehandlingthe
complaintstheyreceive.Acompany“snapshot”couldincludeanoverviewofresponse
times,explanationsandrelief(monetaryandnon-monetary).Consumerscouldusethis
informationtoevaluatewhetheracompanyisworthdoingbusinesswith,basedinpart
onhowwelltheyaddresscomplaints.(Theupcomingsatisfactionratingsystemshould
help.)
8. Enablemobileaccess.Manyconsumersaccesstheinternetprimarilyviaamobiledevice
(smartphoneortablet)ratherthanacomputer.Enhancingsmartphonecapabilityisa
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mustforanyusefulcomplainttool.Thesearchcapabilitiesshouldnotberestrictedand
viewingshouldnotbecompromisedforthoseusingsmallerscreens.
9. Offersimple,step-by-stepinstructionsandupdatethefiltertutorialvideofornew
users.Abriefintroductionforthoseusingthedatabaseintheirwebbrowserwouldbe
veryhelpfulforconsumerswhomayotherwiseseethesystemasdaunting.Instructions
shouldencourageuserstokeepsearchessimple;highlightcommandsforrearranging
columnsorsearchingdatabykeyword,companyorproduct;andincludeuseful“tips,”
like“Whenaddingfilterconditionstothebluefiltersidebar,avoidusing“is”;instead
clickonthetinyarrowandselecttheword“contains”forbestresults.”
10. Improvefunctionality.Makefilteringthedataeasierandfaster.Makechangesthat
avoidtheopportunityforuserstobecomefrustratedbyanoverlysensitivefilter,lackof
desiredresultsorneedtorestartsearchesfromscratch.Maketheinterfacemore
intuitiveforthelayperson.
11. Relaxthescrubbingstandard.Whileconsumerprivacyisimperative,sometimestoo
muchinformationisredactedfromcomplaintdetails(dates,timesandnumbers),and
what’sremovedoftenseemsinconsistent.
12. Requirecomplaintresolutions.RequireallcompaniessupervisedbytheCFPBto
adequatelyrespondtoandattempttoresolveconsumercomplaintswithinthe15-and
60-daytimeframes.TheCFPBshouldpursuecompaniesthatdonotrespondtoor
resolveconsumercomplaintsandholdthemmoreaccountable.TheBureaucould
followupwithunresponsivecompaniesdirectlyandpressthemtoprovidemore
detailed,tailoredresponses(andresolutions),bothpubliclyandprivately.Ifnoprogress
ismade,thebusinessshouldbeslatedforscrutinybytheagency’ssupervisionand
examinationstaff.Businessesshouldbeexaminedandexpectedtohaveacomplaint
escalationprocessthatconsumerscanturntoforresolution,asisnowrequiredof
mortgageservicers.
13. Offerfurtherrecourse.Whencomplaintresolutionisnotavailabletoconsumers,the
Bureaushouldprovidewrittensuggestionsastowheretheconsumermightturnnext
forrecourse(e.g.,stateAG,smallclaimscourt,tradeassociation/FINRA,etc.).
14. PublicizeBureauactionstakenasadirectresultofcomplaints.WhenfurtherCFPB
action(e.g.,lawsuit,settlement,newrule)resultsfromaconsumercomplaint,the
consumershouldbenotifieddirectlybytheBureauinatimelymanner.Theaction
shouldbereportedtothepublic,aswell,toexpandawarenessanduseofthecomplaint
tool.
15. Disputeoption.TheBureaushouldprovideonelaststepinthecomplaintprocessthat
offersconsumersstrongerrecourseifacompanyhasbeenunresponsivetotheir
complaints.IfaconsumerprovidestheCFPBwithdetailednegativefeedbackinthe
upcomingsatisfactionratingscale,theBureaushouldconsidertakingfurtheraction
againstacompanythathasnumerousunresolvedoroutstanding(noresponse)
complaints.ActioncouldincludeprivatecommunicationbetweentheBureauandthe
business,deeperexaminationorinvestigationofthecompanyor,ifwarranted,
enforcementaction.
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ConsumerAction
www.consumer-action.org
Consumeradviceandreferralhotline:415-777-9635
Chinese,EnglishandSpanishspoken
Submityourcomplaintsonline:
English:www.consumer-action.org/hotline/complaint_form/
Spanish:www.consumer-action.org/hotline/complaint_form_es/
Aboutthisreport
ResearchwasconductedbetweenFebruaryandJuly2016byJosueChavez(2016Columbia
UniversityVirtualIntern)andthefollowingstaffmembers:AlegraHoward,RuthSussweinand
MonicaSteinisch.
TermsofUse
ThisreportbyConsumerActioncanbeusedfreelyandreproducedforeducationalpurposes.
Nocommercialuseisallowed.©ConsumerAction2016
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