CFPB highlights servicemember complaints
The Bureau has released its 2018 Complaint Snapshot, with a national overview of servicemember complaints and complaint information by state. There were 33,984 complaints received in 2018, an increase of 12% over those received in 2017.
At the national level, the top five financial product complaints of servicemembers in 2018 matched those of non-servicemembers, with credit or consumer reporting at the top of the list (38% of all complaints), followed in order by debt collection, mortgage-related problems, credit cards, and checking or savings accounts. Within those products or services, the top issues reported were:
- Credit or consumer reporting: Incorrect information on reports (54%)
- Debt collection: Attempts to collect debts not owed (40%)
- Mortgages: Trouble during payment process (45%)
- Credit card: Problem with a purchase shown on statement (26%)
- Checking or savings: Managing an account (58%)