February 2014

Credit reporting 

complaint snapshot
2 CREDIT REPORTING COMPLAINT SNAPSHOT

Consumers’ credit reporting 

complaints

Of the approximately 289,000 consumer complaints handled by the CFPB between July 21, 2011 

and February 1, 2014, about 31,000 (11%) have been about credit reporting.

1

 

FIGURE 1: TYPES OF COMPLAINTS BY CONSUMERS

Approximately 20,600 of credit reporting complaints have been sent by the CFPB to companies 

for review and response (66%). The remaining credit reporting complaints have been found to 

 

1 The CFPB began handling credit reporting complaints on October 22, 2012.
3 CREDIT REPORTING COMPLAINT SNAPSHOT

be incomplete (24%), pending with the consumer or the CFPB (6%), or were referred to other 

regulatory agencies (3%).
4 CREDIT REPORTING COMPLAINT SNAPSHOT

1. Types of credit reporting 

complaints

When submitting a credit reporting complaint, consumers have the option to choose from 

among the following five different issue types to describe the type of issue that they are having:

 incorrect information on my credit report; 

 credit reporting company’s investigation; 

 improper use of my credit report;

 unable to get my credit report or credit score; and 

 credit monitoring or identity protection services.

FIGURE 2: TYPES OF CREDIT REPORTING COMPLAINTS REPORTED BY CONSUMERS

Figure 1 illustrates that 73% of consumers’ credit reporting complaints are about incorrect 

information appearing on a credit report. Other common types of credit reporting complaints 
5 CREDIT REPORTING COMPLAINT SNAPSHOT

are about issues with credit reporting companies’ investigations of information disputed by 

consumers (11%) and the inability to get a credit report or credit score (9%).

1.1 Incorrect information on a credit report

Among consumers’ complaints about incorrect information appearing on their credit report, the 

most common concerns were about incorrect account status (35%) and information that does 

not belong to the consumer (19%). 

Some consumers report having to deal with the reappearance of incorrect account information 

on their credit reports, including inaccurate collection accounts, they had previously disputed 

and corrected. Other consumers express frustration with having to correct information that does 

not belong to them. 

One consumer, a recent college graduate, checked his credit report for the first time only to find 

a number of derogatory accounts on his report. He was able to remove all but one account from 

his credit report – a mortgage – that was supposedly originated at a time when the consumer 

was in high school.

The consumer submitted disputes in an effort to 

remove the mortgage, which clearly did not 

belong to him; nevertheless, after his third 

attempt to correct the information, he was told by 

the credit reporting agency that he could not 

submit any more disputes. 

Many consumers also report challenges with 

inaccurate furnisher reporting about previously filed bankruptcies. For instance, there is some 

confusion about how long a Chapter 7 or Chapter 13 bankruptcy may appear on consumers’ 

credit reports. Consumers also frequently question whether a particular account is correctly 

reporting as having been, or not been, included in the consumer’s bankruptcy. 

In addition to bankruptcy, consumers have expressed concern with the reporting of liens which 

were incorrectly assessed or which had been on their credit report for more than seven years. 

While an incorrectly imposed lien should be deleted from a consumer’s credit report, consumers

are not aware that a lien can remain on a credit report for seven years after the lien is paid. 

The claim is clearly not me. It is 

a house mortage. I would have 

been a sophomore in high 

school when the account was 

started.

Chris, Iowa
6 CREDIT REPORTING COMPLAINT SNAPSHOT

Other consumers are not aware that if the lien has not been paid after seven years, it may be 

reported indefinitely.

1.2 Credit reporting company’s investigation

In complaints where consumers had issues with credit reporting companies’ investigations of 

information they disputed, consumers most commonly reported problems with the company’s 

statement of dispute (4%) and problems with not having received notice of the investigation’s 

status or results (4%).

Consumers sometimes question the depth and validity of the investigations performed, given 

how quickly credit reporting companies sometimes return findings. Additionally, consumers 

report frustration when they have submitted documentation that should call into question the 

accuracy of the information provided by the data furnisher. 

Consumers are also sometimes confused about the extent to which the credit reporting agencies 

are obligated to provide consumers with validation and documentation of a debt which appears 

on their credit report.

1.3 Inability to get credit report or credit 

score

Consumers’ complaints about an inability to get credit reports or credit scores most commonly 

reported problems getting their free annual report (4%) and getting their credit report or credit 

score (4%).

In this example of a common complaint, a consumer reports his repeated attempts to request 

his free annual credit report, to no avail:

I was going around and around with a credit 

reporting agency. I had written to their corporate 

office, who denied the existence of my request for a 

free credit report. After contacting the CFPB, I 

As an Advocate/Ombudsman, 

I will be sharing the CFPB 

website with every consumer 

that asks, “What can I do?” 

Ezra, Arizona
7 CREDIT REPORTING COMPLAINT SNAPSHOT

received a notice that the credit reporting agency would be sending my report. 
8 CREDIT REPORTING COMPLAINT SNAPSHOT

2. How the CFPB handles 

complaints

The CFPB screens all complaints submitted by consumers based on several criteria. These 

criteria include whether the complaint falls within the CFPB’s primary enforcement authority, 

whether the complaint is complete, and whether it is a duplicate of a prior submission by the 

same consumer. 

Screened complaints are forwarded via a secure web portal to the appropriate company. The 

company reviews the information, communicates with the consumer as needed, and determines 

what action to take in response. The company reports back to the consumer and the CFPB via 

the secure “company portal.” 

Consumers who have submitted complaints with to the Bureau can log onto the secure 

“consumer portal” available on the CFPB’s website or call a toll-free number to receive status 

updates, provide additional information, and review responses provided to the consumer by the 

company.

The Bureau then invites the consumer to review the response and provide feedback. The CFPB 

reviews the feedback consumers provide about company responses, using this information along 

with other information such as the timeliness of the company’s response, for example, to help 

prioritize complaints for investigation. 
9 CREDIT REPORTING COMPLAINT SNAPSHOT

Throughout this process, subject-matter experts help monitor certain complaints. For 

example, the Office of Servicemember Affairs coordinates on complaints submitted by 

servicemembers or their spouses and dependents.

2.1 Company responses

Approximately 20,600 of credit reporting complaints have been sent by the CFPB to companies 

for review and response (66 %).

Companies have already responded to approximately 18,800 complaints or 91 percent of the 

complaints sent to them for response. 

TABLE 1: COMPANY RESPONSE CATEGORIES2

Categories of company responses: N %

Company reported closed with monetary relief 140 0.7%

Company reported closed with non-monetary relief 5,940 28.9%

Company reported closed with explanation 12,610 61.3%

Company reported closed (without relief or explanation) 70 0.3%

Company provided administrative response 170 0.8%

Company reviewing 1,480 7.2%

Company did not respond 140 0.7%

TOTAL 20,560 100%

 

2 Counts and percentages may not sum to 100% due to rounding.
10 CREDIT REPORTING COMPLAINT SNAPSHOT

2.2 Consumer feedback 

Once the company responds, the CFPB provides this response to the consumer for review. 

Consumers are given the option to dispute responses indicating a resolution has been provided 

or that the company has closed the complaint with or without relief. Consumers are asked to 

notify the CFPB within 30 days if they want to dispute a company’s response. 

Consumers have disputed approximately 3,200 company responses (17%) to credit reporting 

complaints, compared to a 21% dispute rate for all products handled by the CFPB.3

 

3

In addition to credit reporting complaints, the CFPB currently handles complaints about credit cards, mortgages, 

bank accounts and services, private student loans, vehicle and other consumer loans, money transfers, debt 

collection, and payday loans.
11 CREDIT REPORTING COMPLAINT SNAPSHOT

Listening to consumers and reviewing and analyzing their complaints is an integral part of the 

CFPB’s work in understanding issues in the financial marketplace, and helping the market work 

better for consumers. The information shared by consumers and companies throughout the 

complaint process informs the Bureau about business practices that may pose risks to 

consumers and helps the Bureau in its work to supervise companies, enforce Federal consumer 

financial laws, and write better rules and regulations.