1 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

OCTOBER 10, 2012

Consumer Response: 

A Snapshot of 

Complaints Received
2 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

Introduction 

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) began consumer 

response operations on July 21, 2011 and became the first federal agency solely focused on 

consumer financial protection. The Dodd-Frank Wall Street Reform and Consumer 

Protection Act of 2010 (“Dodd-Frank Act”) created the Bureau to protect consumers of 

financial products or services and to encourage the fair and competitive operation of 

consumer financial markets. Taking in, resolving, and analyzing consumer complaints is an 

integral part of the CFPB’s work, as Congress set forth in the Dodd-Frank Act. The 

Bureau’s Consumer Response team hears directly from consumers about the challenges they 

face in the marketplace, brings their concerns to the attention of financial institutions, and 

assists in addressing their complaints. 

The Consumer Response team began taking consumer complaints about credit cards on July 

21, 2011; it began handling mortgage complaints on December 1, 2011; and it began 

accepting complaints about bank accounts and services, private student loans, and other 

consumer loans on March 1, 2012. Additionally, the CFPB’s public Consumer Complaint 

Database was launched on June 19, 2012 to bring more transparency and efficiency to the 

marketplace.

Over the next year, the CFPB expects to handle consumer complaints on all products and 

services under its authority. In the meantime, consumers may contact the CFPB about 

products and services beyond those listed above. The Bureau answers these inquiries by 

referring consumers to other regulators or additional resources where appropriate. 

This snapshot report provides an overview of how Consumer Response handles complaints 

and presents an analysis of complaints received over the period from July 21, 2011 through 

September 30, 2012.
3 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

How the CFPB handles 

complaints 

The CFPB accepts complaints through its website and by telephone, mail, email, fax, and 

referral from other agencies. The CFPB’s U.S.-based contact centers handle calls with littleto-no wait times; they provide services to consumers in more than 180 languages and 

tohearing- and speech-impaired consumers via a toll-free telephone number. Cutting-edge 

technology, including secure company and consumer portals, makes the process efficient and 

user-friendly for consumers and companies. For companies, the CFPB provides secure 

channels for communicating directly with dedicated staff about technical issues. 

Consumer Response 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, or whether it is a duplicate of a 

prior submission by the same consumer. Screened complaints are sent 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.” The Bureau 

then invites the consumer to review the response. Consumer Response prioritizes for review 

and investigation complaints in which the consumer disputes the response or where 

companies fail to provide a timely response. Consumers can log onto the secure “consumer 

portal” available on the CFPB’s website or call the toll-free number to receive status updates, 

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

company. Throughout this process, Consumer Response is supported by CFPB colleagues 

who provide subject matter expertise and help monitor complaints involving certain groups.
4 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

Results

HOW COMPLAINTS REACH THE CFPB 

From July 21, 2011 through September 30, 2012, the CFPB received approximately 79,200

consumer complaints, including approximately 23,400 credit card complaints, 36,300

mortgage complaints, 12,900 bank accounts and services complaints, and 2,900 private

student loan complaints. 

Approximately 45 percent of all complaints were submitted through the CFPB’s website and 

10 percent via telephone calls. Referrals from other regulators and agencies accounted for 37

percent of all complaints received. The rest were submitted by mail, email, and fax. 

More than 65,100 complaints (82 percent) of complaints received as of September 30, 2012

have been sent by Consumer Response to companies for review and response. The 

remaining complaints have been referred to other regulatory agencies (10 percent), found to 

be incomplete (4 percent), or are pending with the consumer or the CFPB (4 percent). 

Companies have already responded to approximately 61,300 complaints or 94 percent of the 

complaints sent to them for response.

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 12,000 company responses (21 percent) to 

complaints.

The product-specific analyses below describe complaints by type as reported by consumers, 

actions taken, company responses, and consumer review of company responses. 

(Note that percentages in this snapshot report may not sum to 100 percent due to rounding.) 
5 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

CONSUMERS’ CREDIT CARD COMPLAINTS 

Billing disputes are the most common type of credit card complaints. Some consumers are 

confused and frustrated by the process and limits of challenging inaccuracies on their 

monthly credit card billing statements. For example, some consumers only realize that they 

needed to notify their credit card companies within 60 days of any billing errors after their 

claim has been denied. In other cases, consumers are not aware that companies typically do 

not stop a merchant charge once the cardholder has authorized it or do not override a 

merchant’s “no-return policy.” Other common types of credit card complaints are those 

about annual percentage rates or interest rates and identity theft, fraud, or embezzlement. 

Approximately 19,600 (84 percent) of credit card complaints have been sent by Consumer 

Response to companies for review and response. The remaining credit card complaints have 

been referred to other regulatory agencies (8 percent), found to be incomplete (6 percent), or 

are pending with the consumer or the CFPB (4 percent). Companies have already responded 

to approximately 18,900 complaints or 97 percent of the complaints sent to them for 

response. Since December 2011, companies have also had the option of reporting the 

amount of monetary relief, if any. The median amount of relief reported was approximately 

$126 with $25 being the most common amount of relief for the approximately 3,700 credit 

card complaints where companies reported relief. Consumers have disputed approximately 

3,100 company responses (18 percent) to credit card complaints.

CONSUMERS’ MORTGAGE COMPLAINTS 

The most common type of mortgage complaint is about problems consumers have when 

they are unable to pay, such as issues related to loan modifications, collection, or foreclosure. 

For example, consumer confusion persists around the process and requirements for 

obtaining loan modifications and refinancing, especially regarding document submission 

timeframes, payment trial periods, allocation of payments, treatment of income in eligibility 

calculations, and credit bureau reporting during the evaluation period. The shelf life of 

documents provided as part of the loan modification process is of particular concern to 

consumers. Though consumers must provide documents within short time periods and 

income documentation generally remains valid for up to 60 days, lengthy evaluation periods 

can result in consumers having to resubmit documentation - sometimes more than once. 

This seems to contribute to consumer fatigue and frustration with these processes.
6 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

Other common types of mortgage complaints are those about making payments, such as 

issues related to loan servicing, payments, or escrow accounts. For example, consumers 

express confusion about whether making timely trial period payments will guarantee 

placement into a permanent modification. Issues related to applying for the loan, such as the 

application, the originator, or the mortgage broker, are also among the most common type 

of mortgage complaints.

Consumers filing complaints about problems when they are unable to pay generally appear 

to be driven by a desire to seek agreement with their companies on foreclosure alternatives. 

Approximately 31,300 (86 percent) of mortgage complaints have been sent by Consumer 

Response to companies for review and response. The remaining mortgage complaints have 

been referred to other regulatory agencies (9 percent), found to be incomplete (3 percent), or 

are pending with the consumer or the CFPB (3 percent). Companies have already responded 

to approximately 29,000 complaints or 93 percent of the complaints sent to them for 

response. The median amount of monetary relief reported was approximately $415 for the 

approximately 1,200 mortgage complaints where companies reported relief. Consumers have 

disputed approximately 6,300 company responses (23 percent) to mortgage complaints.

CONSUMERS’ BANK ACCOUNT AND SERVICE COMPLAINTS 

The most common type of bank account and service complaint is about opening, closing, or 

managing the account such as confusing marketing, denial, fees, statements, and joint 

accounts. Other common types of complaints include those about deposit and withdrawal 

issues such as transaction holds unauthorized transactions, and problems caused by the 

consumer’s funds being low such as bounced checks, overdraft and late fees, and credit 

reporting. Many consumers remain frustrated with overdraft fees and the wide discretion 

companies have to assess these and other fees so long as the fees are outlined in account 

agreements. Similarly, some consumers express frustration with the order in which 

companies process account withdrawals because of the number of overdraft fees charged 

when larger transactions are processed before smaller ones.

Approximately 10,300 (86 percent) of bank account and service complaints have been sent 

by Consumer Response to companies for review and response. The remaining bank account

and service complaints have been referred to other regulatory agencies (11 percent), found to 

be incomplete (3 percent), or are pending with the consumer or the CFPB (5 percent). 

Companies have already responded to approximately 9,800 complaints or 95 percent of the 

complaints sent to them for response. The median amount of monetary relief reported was 

approximately $105 for the approximately 2,500 bank account and service complaints where 

companies reported relief. Consumers have disputed approximately 1,900 company 

responses (20 percent) to bank account and service complaints.
7 CONSUMER RESPONSE: A SNAPSHOT OF COMPLAINTS RECEIVED THROUGH SEPTEMBER 30, 2012

CONSUMERS’ PRIVATE STUDENT LOAN COMPLAINTS 

The most common type of private student loan complaint is about repaying the loan, such as 

fees, billing, deferment, forbearance, fraud, and credit reporting. Consumers struggle with 

the limited payment deferment options permitted in their loan agreements, especially when 

they have not found employment by the time they need to start paying back their loans and 

because deferments often are for no more than six months. 

Another common type of complaint is about problems consumers have when they are 

unable to pay, such as issues related to default, debt collection, and bankruptcy. 

Approximately 2,200 (77 percent) private student loan complaints have been sent by 

Consumer Response to companies for review and response. The remaining private student 

loan complaints have been referred to other regulatory agencies (17 percent), found to be 

incomplete (3 percent), or are pending with the consumer or the CFPB (4 percent). 

Companies have already responded to approximately 2,100 complaints or 93 percent of the 

complaints sent to them for response. Companies have reported relief in response to 

approximately 140 private student loan complaints. Consumers have disputed approximately 

400 company responses (18 percent) to private student loan complaints.

Listening and responding to consumers is an integral part of the CFPB’s work to understand 

issues in the financial marketplace. As Consumer Response processes complaints, it also

continues to identify new ways to improve its processes to make them as efficient, effective, 

and easy-to-use as possible. The Bureau uses consumer complaints to inform its work in 

making prices and risks clearer, protecting consumers of financial products and services, and 

encouraging financial markets to operate fairly and competitively. 

CFPB CONSUMER RESPONSE CONTACT INFORMATION: 

consumerfinance.gov/complaint 

Toll-free telephone number: 

1-855-411-CFPB (2372) 

(8 a.m. to 8 p.m. EST, Monday through Friday) 

TTY/TDD telephone number: 

1-855-729-CFPB (2372) 

Mail: Consumer Financial Protection Bureau 

P.O. Box 4503 

Iowa City, Iowa 52244