CFPB Releases State by State Report on Consumer Complaints

This week, the Consumer Financial Protection Bureau (CFPB) released its June 2017 complaint report. The format is different than usual. Normally, the report spotlights complaints from a particular industry and state. This month, the report provides a state by state overview of what consumers are complaining about across the country. You can see the top 5 industries receiving complaints by volume and quarterly percent change for each state.

Debt collection and mortgage complaints still account for roughly half the complaints the Bureau has received as of June 1. While student loan complaints appear to be on the rise, the CFPB has used a phased-in approach to taking consumer complaints on certain topics. As a result, analyses that don't control for time period changes run the risk of misinforming.

It's an interesting report, and one that suggests the CFPB is adding ammo to its arsenal in fighting for its existence.

Here's a quick visual from the report of complaint numbers across the country since the CFPB started taking complaints in 2011.

CFPB Monthly Complaint Report, June 2017 p. 7