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CFPB Reports Increase In Complaints From Massachusetts

By Jim Morrison | Banker & Tradesman Staff | Jun 28, 2017 | Reprints | Unlock Link

| Print

The overall number of complaints in the Nutmeg State is on the rise, according to the Consumer Fraud Protection Bureau (CFPB) monthly ‘snapshot’ complaint report.

The report shows that complaints rose 13 percent between 2015 and 2016.

Between the last quarter of 2016 and the first quarter of 2017, student loan complaints rose 518 percent, going from 33 to 204.

Since 2011, the CFPB has handled 12,903 complaints from Connecticut consumers, including 1,073 from older consumers and 530 from service members.

The three most common types of complaints are: problems related to the inability to make a mortgage payment, companies attempting to collect a debt that isn’t owed, and incorrect information in credit reporting.

The full report is available here.

B&T Daily