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ARTICLE · 21 JULY 2015

CFPB Releases First Monthly Consumer Complaint Report

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The CFPB has released its first in a series of new monthly reports on consumer complaints. The CFPB says that the purpose of these reports is to identify trends with respect to volume, product type, and geographic region.

United StatesFinance and Banking
Ben Patterson
Ben Patterson
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The CFPB has released its first in a series of new monthly reports on consumer complaints. The CFPB says that the purpose of these reports is to identify trends with respect to volume, product type, and geographic region. Each report will also highlight a particular product and geographic location. This month focuses on debt collection and consumers in Milwaukee, Wisconsin.

The Bureau reported that in June 2015, debt collection was the most frequently complained about product or service, representing over 7,400 of the 23,400 complaints handled (32%). Mortgages and credit reporting came in second and third, respectively. Complaints regarding consumer loans showed the greatest percentage increase in volume from this time last year.

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