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CFPB Focuses on Debt Collection in Final Complaint Report of 2016

Submitted by jhartgen@abi.org on

As of Dec. 1, 2016, the CFPB has handled approximately 1,058,100 complaints, including approximately 285,800 about debt collection, according to the report, ACAInternational.org reported. The monthly average of debt collection complaints since the CFPB launched the Consumer Complaint Database is 6,890. According to the report, the CFPB received 23,134 consumer complaints in November, including 6,730 about debt collection. Debt collection complaints declined 13 percent from October to November. Debt collection represents 27 percent of the total cumulative complaints submitted to the CFPB, according to the report.