Citizens Financial Group had more consumer complaints than nearly every other bank in the country in 2018.

That’s according to a recent study conducted by LendEdu that examined complaints submitted to the Consumer Financial Protection Bureau in 2018. The banks are ranked by the number of CFPB complaints per billions of dollars in deposits.

The roughly $117 billion-asset Citizens Bank had 7.35 complaints for every $1 billion in deposits, slightly above Fifth Third Bancorp and only behind the $18.5 billion-asset Minnesota-based TCF Financial Corp., which had 11.24 complaints per every $1 billion in deposits.

Other institutions with a presence in Massachusetts that made the list include Wells Fargo (6.56), JPMorgan Chase (5.73), Webster Financial Corp. (4) and People’s United (1.51).

Citizens also finished second when it came to complaints submitted to the CFPB regarding savings and checking accounts.

The study also listed banks that did not have any complaints submitted to the CFPB. Silicon Valley Bank, which has a presence in Boston, is one of those banks, although it doesn’t often work directly with consumers.

A spokesperson for Citizens Bank emailed a statement to Banker & Tradesman in response to the results:

“This organization’s analysis of complaints per deposits is one way to look at the CFPB data, but it does not account for other important variables that may differ greatly across banks, such as transaction volume and mix of assets, that would enable a more accurate comparison. We regularly monitor and analyze the CFPB data in order to review and address customer concerns as quickly as possible, and leverage this and other data sources to identify opportunities to improve and evolve the customer experience.”

This article has been updated to include Citizen Bank’s statement.

Study: Citizens Bank Receives More Consumer Complaints Than Its Peers

by Banker & Tradesman time to read: 1 min
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