Equifax Subject of Most Consumer Bureau Complaints in All But One State
Equifax was the subject of more consumer bureau complaints than any other financial services company in all but one state in 2017, according to an analysis of agency data, The Hill reported. In every state but North Dakota, more residents complained to the Consumer Financial Protection Bureau (CFPB) about the credit-reporting company than any other firm. The analysis is according to LendEDU, which compiled the most frequently appearing companies in the CFPB’s Consumer Complaint Database. The database tracks and publishes every complaint received by the CFPB about a bank or financial services company. Equifax revealed in September that hackers accessed the personal information of more than 140 million people. The data accessed in the July breach included Social Security numbers and other sensitive information that could be used in identity theft. The credit reporting agency is under federal investigation, and former CEO Richard Smith was excoriated by lawmakers in two tense congressional hearings. Credit card companies and credit unions expressed outrage and concern over the data breach affecting millions of their customers. LendEDU analysis shows that Equifax was the subject of 30,576 CFPB complaints across the U.S. Equifax was the most complained about company in each state but North Dakota, where rival credit bureau Experian took the top spot. Americans filed a total of 235,094 complaints with the bureau, and the District of Columbia had the highest per capita frequency of CFPB complaints.
