On November 24 ,2015, the Consumer Financial Protection Bureau (CFPB) released its latest monthly complaint snapshot to examine complaints received on bank accounts and services. The report indicates that the CFPB has determined that many consumers are experiencing problems (1) opening up and/or managing their bank accounts; (2) disputing transactions on their accounts; and (3) depositing or withdrawing funds from their account. Some consumers also complained that their accounts were closed without explanation.
The report also reviews some national trends, such as a marked year over year increase in complaints related to prepaid products and 20 percent decrease in complaints related to payday lending between August 1 and October 31. The CFPB also pointed out that it has handled 749, 400 complaints nationally, as of November 1, 2015. Finally, the report highlights trends that appeared in Connecticut, which include complaints about mortgages and debt collection.
The Monthly Complaint Snapshot can be found at:http://files.consumerfinance.gov/f/201511_cfpb_monthly-complaint-report-vol-5.pdf.