CONSUMER FINANCIAL PROTECTION BUREAU | MARCH 2023

Consumer Response 

Annual Report

January 1 – December 31, 2022
Table of Contents

Table of Contents ...........................................................................................................2

Executive Summary .......................................................................................................3

1. Introduction ..............................................................................................................5

2. Complaint numbers.................................................................................................9

3. Complaint responses ............................................................................................16

4. Complaint types.....................................................................................................19

4.1 Credit or consumer reporting.................................................................19

4.2 Debt collection ........................................................................................23

4.3 Credit card ............................................................................................. 28

4.4 Checking or savings account...................................................................33

4.5 Mortgage ................................................................................................ 38

4.6 Money transfer, money services, and virtual currencies....................... 44

4.7 Vehicle loan or lease .............................................................................. 50

4.8 Student loan............................................................................................54

4.9 Personal loan ..........................................................................................57

4.10 Prepaid card........................................................................................... 60

4.11 Credit repair........................................................................................... 66

4.12 Payday loan.............................................................................................67

4.13 Title loan ................................................................................................ 70

5. Conclusion..............................................................................................................72
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Executive Summary

▪ Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, this 

annual report analyzes complaints submitted by consumers in 2022. During this period, the 

Consumer Financial Protection Bureau (CFPB) received approximately 1,287,000 consumer 

complaints and sent more than 820,000 complaints to approximately 3,200 companies for 

review and response.

▪ The CFPB monitors complaints to assess risk in consumer financial markets and to prioritize 

agency action. In 2022, the CFPB observed:

□ Complaints about credit or consumer reporting increased, accounting 

for more than 75% of all consumer complaints. The most common complaint 

issue continues to be about inaccurate information on a consumer’s report, but there 

were also large increases in complaints in which consumers complained about 

improper use of their report. The three largest nationwide consumer reporting 

agencies—Equifax, Experian, and TransUnion—were the most frequently named 

companies.

□ Complaints about checking and savings accounts increased. Consumers 

most commonly described issues with managing an account. For example, 

consumers reported problems with account closures, fraudulent activity on their 

account, and problems with customer service (e.g., unable to reach representatives 

by phone, email, or in person; unable to get helpful from information from customer 

service representatives when they were connected; unable to access previously 

available communication channels, such as mobile and online chats).

□ Complaints about student loans made up a small percentage of 

complaints overall but increased significantly. The increase in federal student 

loan complaints was largely driven by consumers complaining about trouble with 

their lender or servicer. Consumers reported confusion around the repayment pause 

extensions, proposed changes to the federal loan program, and forgiveness programs 

(e.g., the Public Service Loan Forgiveness program).
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□ Consumer complaints about money service fraud or scam also increased.

In these, consumers stated that they were often tricked into sending money via 

phishing/smishing scams. Several virtual currency consumers lost money when they 

were contacted by scammers or fraudsters posing as investment or financial 

institution representatives.

▪ The CFPB’s complaint process is designed to give companies the opportunity to provide 

complete, accurate, and timely responses to their customers. Responsible companies use 

complaints not only as an opportunity to engage with consumers, but also as an indicator of 

potential weaknesses in a particular product, service, function, department, or vendor. 

Companies are encouraged to consider how best to incorporate complaint information into 

their institutional processes to help ensure that problems are detected early and addressed 

quickly.
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1. Introduction

One of the primary functions of the CFPB is collecting, investigating, and responding to 

consumer complaints.1 The Office of Consumer Response (Consumer Response), created by the 

CFPB under the Dodd-Frank Wall Street Reform and Consumer Protection Act, maintains 

procedures to provide a timely response to consumers,

2

in writing, to complaints3 concerning a 

covered person.4 In 2022, the CFPB received approximately 1,287,300 consumer complaints.5

Consumer complaint process

The CFPB accepts complaints from consumers through its website, by telephone, and mail.6 The 

CFPB also accepts referrals from the White House, congressional offices, and other federal and 

state agencies. Consumers submitted 95% of complaints by visiting the CFPB’s website and 2.7% 

by calling the CFPB’s toll-free telephone number.7 The remaining 1.9% were submitted via 

postal mail or referral.

1

12 U.S.C. 5511(c)(2).

2

12 U.S.C. 5481(4) (“The term ‘consumer’ means an individual or an agent, trustee, or representative acting on 

behalf of an individual.”).

3 Consumer complaints are submissions that express dissatisfaction with, or communicate suspicion of wrongful 

conduct by, an identifiable entity related to a consumer’s personal experience with a financial product or service.

4

12 U.S.C. 5534(a).

5 Complaint data in this report are current as of February 1, 2023. This report excludes some complaints that the 

CFPB received, including multiple complaints submitted by a given consumer on the same issue (i.e., duplicates), 

whistleblower tips, and complaints that the CFPB found to be not actionable. Complaint numbers are rounded 

throughout the report; therefore, numbers and percentages may not sum to sub-totals or 100%.

6

12 U.S.C. 5493(b)(3). In addition to accepting complaints and providing complaint status updates, the CFPB also 

provides consumers with answers to frequently asked questions about consumer financial products and services 

over the telephone via a toll-free number. Representatives at the CFPB’s U.S.-based contact centers answer 

consumers’ inquiries, providing clear, unbiased answers and pointing them to CFPB-created tools like Ask CFPB. 

The CFPB provides services to consumers in more than 180 languages and to consumers who are deaf, have hearing 

loss, or have speech disabilities. In 2022, the CFPB received an average of more than 17,600 telephone calls per 

month.

7 See Consumer Fin. Prot. Bureau, Submit a complaint, https://www.consumerfinance.gov/complaint/. 
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When consumers submit complaints, the CFPB asks them to identify the consumer financial 

product or service with which they have a problem, the issue that best describes the problem, 

and the company to which they want to direct their complaint.8 Consumers describe what 

happened and their desired resolution using free-form text fields. The complaint form requires 

users to identify whether they are submitting the complaint for themselves or on behalf of 

someone else, provide relevant contact information, and affirm the information provided in 

their complaint is true to the best of their knowledge and belief.9 Consumers also have the 

option to provide limited demographic information, such as their age, servicemember status, 

household size, and combined annual household income.

The CFPB encourages consumers to submit complaints through its website whenever possible. 

The online complaint form helps to ensure completeness of information and enables the CFPB 

to send the complaint to the named company quickly—typically, in one day or less. The online 

complaint form also allows consumers to attach supporting documentation to their complaint, 

which often helps companies assess issues raised by consumers.

Complaints submitted to the CFPB go through several steps to help ensure consumers get timely 

responses to their issues (Figure 1). The CFPB routes consumers’ complaints about consumer 

financial products and services directly to financial companies, and works to get consumers 

timely responses, generally within 15 days.10 Secure, web-based Company and Consumer Portals 

protect consumer privacy and the confidentiality of companies’ responses to consumers. Where 

appropriate, the CFPB routes complaint referrals to other federal agencies through a secure, 

web-based Government Portal.11

8 See generally, Consumer Fin. Prot. Bureau, Learn how the complaint process works, 

https://www.consumerfinance.gov/complaint/process/. Throughout this report, the CFPB notes the product, subproduct, and issue selections available to consumers; however, the complaint form sometimes has minor word 

changes based on these selections. These minor differences are not included in this report.

9 The complaint form requires that users attest to their submission (“The information given is true to the best of my 

knowledge and belief. I understand that the CFPB cannot act as my lawyer, a court of law, or a financial advisor.”).

10 See discussion infra Section 3.

11 12 U.S.C. 5493(b)(3)(A) (“The Director shall coordinate with the Federal Trade Commission or other Federal 

agencies to route complaints to such agencies, where appropriate.”).
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FIGURE 1: CONSUMER COMPLAINT PROCESS

After a consumer receives the company’s response to their complaint, the consumer can provide 

feedback on the company’s response by completing an optional survey.12 This information is 

made available to companies via the Company Portal. The CFPB makes a subset of complaint 

data publicly available in the Consumer Complaint Database on its website.

13

How the CFPB uses complaint information

The CFPB has a statutory obligation to monitor consumer complaints.

14 Consumers’ complaints 

and companies’ responses provide the CFPB with important information about the types of 

challenges consumers are experiencing with financial products and services and how companies 

are responding to consumers’ concerns. The CFPB uses this information to monitor risk in 

financial markets, assess risk at companies, and prioritize agency action.

The CFPB uses a variety of tools and approaches that assist staff in identifying trends and 

possible consumer harm. Examples include: 

▪ Monitoring complaint volume across categorical variables, such as product, issue, subproduct, sub-issue, company, and company response, among others.

▪ Analyzing complaint volume across time and by geographic area, as well as by selfidentified characteristics, such as servicemember status and age.

▪ Reviewing cohorts of complaints and company responses to assess the accuracy, 

timeliness, and completeness of an individual company’s responses to complaints sent to 

them for response.

12 This optional survey invites consumers to provide feedback to three prompts: (1) The company's response 

addressed all of my issues; (2) I understand the company's response to my complaint; and (3) The company did 

what they said they would do with my complaint.

13 See Consumer Fin. Prot. Bureau, Consumer Complaint Database, https://www.consumerfinance.gov/dataresearch/consumer-complaints/. See also Disclosure of Consumer Complaint Narrative Data, 80 FR 15572 (Mar. 

24, 2015), https://www.federalregister.gov/documents/2015/03/24/2015-06722/disclosure-of-consumercomplaint-narrative-data.

14 12 U.S.C. 5511(b)(3)(A).
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▪ Conducting text analytics to identify emerging trends and statistical anomalies in large 

volumes of complaints.

▪ Visualizing data to highlight geographic and temporal patterns and using tools to filter, 

sort, and search complaints.

▪ Pairing complaint data with market information to better understand the prevalence of 

issues among consumers.

▪ Augmenting manual review with statistical approaches to understanding large volumes 

of complaints (e.g., topic modeling) and tools to make complaint data easier to filter, 

sort, and search (e.g., elastic search-based search applications).

These analyses support the CFPB’s work to supervise companies, enforce federal consumer 

financial laws, propose rules, spot and assess emerging issues, and develop tools that help 

empower consumers to make informed financial decisions. The CFPB also shares consumer 

complaint information with prudential regulators, the Federal Trade Commission (FTC), and 

other federal agencies and state agencies.15

This report provides information and analysis about complaints received by the CFPB from 

January 1 through December 31, 2022, including information and analysis about complaint 

numbers, complaint types, and, where applicable, information about the resolution of 

complaints.16

15 12 U.S.C. 5493(b)(3)(D).

16 This report fulfills the reporting requirements of 12 U.S.C. 5493(b)(3)(C), which instructs the CFPB to report on the 

complaints received by the CFPB in the prior year regarding consumer financial products and services.
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2. Complaint numbers

Of the approximately 1,287,300 complaints the CFPB received in 2022, it sent 819,800 (or 64%) 

to companies for review and response, referred 5% to other regulatory agencies, and found 31% 

to be not actionable.17 As of February 1, 2023, 0.1% of complaints were pending with the 

consumer and less than 0.1% were pending with the CFPB. 

FIGURE 2: COMPLAINT OUTCOMES IN 2022

17 Complaints that are Referred to other agencies include complaints about depository institutions with $10 billion or 

less in assets or non-depositories that do not offer a consumer financial product or service. Complaints that are Not 

actionable are not sent to the company for a response or referred to other agencies; these complaints include 

incomplete submissions, withdrawn complaints, and complaints in which the CFPB discontinued processing 

because it had reason to believe that a submitter did not disclose its involvement in the complaint process.
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In 2022, the CFPB sent complaints to more than 3,200 companies for review and response. 

Companies confirmed a commercial relationship with the named consumer and closed the 

complaint with explanation or relief in approximately 770,300 complaints. When a company 

cannot take action on a complaint because it was a duplicate, was submitted by unauthorized 

third parties, was in active litigation, was the result of fraud, scams or business identity theft, or 

the company cannot confirm a commercial relationship with the consumer, the company can 

provide an administrative response that includes a statement or other evidence supporting this 

response. Companies provided an administrative response to approximately 19,200

complaints.18

The remainder of this section analyzes complaints received in 2022 by:

▪ Product and service

▪ Geographic region

▪ Special population (servicemembers and older consumers)19

▪ Consumers from U.S. territories

18 See discussion infra Section 3 (Complaint responses) for more information on how companies respond to 

complaints.

19

“Servicemembers” and “older consumers” are both self-identified. Servicemembers refers to servicemembers, 

veterans, and military families. “Older consumers” refers to consumers who voluntarily reported their age as 62 or 

older.
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Products and Services

The most-complained-about consumer financial product and service categories in 2022 were 

credit or consumer reporting, debt collection, credit card, checking or savings account, and 

mortgage (Figure 3).

20 Collectively, these products comprised approximately 95% of all 

complaints the CFPB received in 2022.

FIGURE 3: COMPLAINT VOLUME BY FINANCIAL PRODUCT OR SERVICE

20 The number of complaints is not equal to the number of consumers who submitted complaints to the Bureau. This 

figure excludes approximately 100 complaints where the consumer did not indicate a specific consumer financial 

product or service.
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Geographic Region

Consumers from all 50 states, the District of Columbia, and Puerto Rico and other U.S. 

territories submitted complaints to the CFPB.

21 To understand state and regional trends, the 

CFPB analyzes the geographic distribution of complaints after accounting for population 

differences.22 On a per capita basis, the CFPB received more complaints from consumers from 

Georgia than anywhere else in the United States, followed by consumers in Delaware, Florida,

D.C., and Alabama. Consumers in South Dakota submitted the fewest complaints of any state 

per capita (Figure 4).

FIGURE 4: U.S. COMPLAINT SUBMISSIONS PER 100K POPULATION

21 See Appendix (counts of complaints by location and product).

22 Population data is from 2020 U.S. Census data as of April 1, 2020, https://data.census.gov/all?y=2020.
13 BUREAU OF CONSUMER FINANCIAL PROTECTION

Servicemembers

The CFPB monitors and analyzes complaints from servicemembers, veterans, and military 

families (collectively, “servicemembers”). Consumers provided their servicemember affiliation 

in approximately 66,400 complaints, or 5.2% of all complaints submitted in 2022. Selfidentified servicemembers submitted complaints about debt collection, credit cards, checking or 

savings accounts, mortgages, money transfer or service and virtual currency, vehicle loans or 

leases, personal loans, student loans, prepaid cards, credit repair, and payday loans at greater

rates than all consumers (Figure 5).

FIGURE 5: COMPLAINTS SUBMITTED BY SERVICEMEMBERS AND ALL CONSUMERS
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Older Consumers

The CFPB also monitors and analyzes complaints from older consumers. Consumers provided 

their age in approximately 249,600 complaints, or 19% of all complaints submitted in 2022.

Self-identified older consumers (age 62 or older) submitted complaints about credit cards, 

mortgages, checking or savings accounts, money transfer or service or virtual currency, debt 

collection, personal loans, prepaid cards, and credit repair at greater rates than complaints 

submitted by consumers disclosing an age under 62 years old (Figure 6).

FIGURE 6: PERCENTAGE OF COMPLAINTS BY PRODUCT AND AGE GROUP23

23 When comparing older consumers to their younger counterparts, the Bureau limits its analysis to consumers who 

provided their age when submitting a complaint.
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Consumers from U.S. territories

Consumers in U.S. territories submitted approximately 3,600 complaints, or 0.3% of all 

complaints submitted in 2022. The U.S. territories include Puerto Rico, the U.S. Virgin Islands, 

Guam, American Samoa, and the Northern Mariana Islands. Consumers in U.S. territories 

submitted complaints about credit or consumer reporting, mortgages, and personal loans at a 

greater rate than all consumers.

FIGURE 7: COMPLAINTS SUBMITTED BY US TERRITORIES AND ALL CONSUMERS
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3. Complaint responses

The CFPB sent complaints to more than 3,200 companies for review and response in 2022. 

Companies are expected to review the information provided in the complaint, communicate 

with the consumer as needed, determine what action to take in response, and provide a written 

response to the CFPB and the consumer. When a company cannot take action on a complaint, 

the company can provide an administrative response that includes a statement or other evidence 

supporting this response.24

Complaint response elements

The CFPB expects companies to provide complaint responses tailored to the issues described in 

each consumer’s complaint. Three elements make up a complaint response:

▪ Completeness: the company addressed all the issues raised by the consumer, including 

providing any relevant documentation. Where appropriate, the company described 

communications with the consumer, attached copies of all relevant documents, and 

described any follow-up actions the company has taken or plans to take in response to 

the issues described in the consumer’s complaint.

▪ Accuracy: the company selected the most appropriate response category for the written 

response provided and, when appropriate, described the non-monetary or monetary 

relief provided to the consumer. Response categories include Closed with monetary 

relief,

25 Closed with non-monetary relief,26 Closed with explanation, and administrative 

response options.

24 See discussion supra Section 2.

25 Monetary relief is objective, measurable, and verifiable monetary relief to the consumer as a direct result of the 

steps that have or will be taken in response to the complaint.

26 Non-monetary relief is other objective and verifiable relief to the consumer as a direct result of the steps that have 

or will be taken in response to the complaint (e.g., stopping unwanted calls from debt collectors; correcting account 

information; correcting inaccurate data provided or reported in consumers’ credit reports; issuing corrected 

documents; restoring account access; and, addressing formerly unmet customer service issues).
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▪ Timeliness: the company provided a response within 15 calendar days of the complaint 

being sent to the company. If a complaint could not be closed within 15 calendar days, 

the company provided an interim explanation to the consumer and the CFPB and then a 

final response within 60 calendar days of the complaint being sent to the company.

Monitoring complaint responses

As part of its ongoing monitoring efforts, Consumer Response systematically reviews and 

assesses how companies respond to complaints relative to the CFPB’s response expectations. 

These analyses assess how well companies are adhering to providing complete, accurate, and 

timely responses.

Consumer Response’s analyses suggest that companies generally addressed the issues 

consumers raised in their complaints. Companies sometimes refer to documents in their 

responses, but do not attach the corresponding documents as expected. The CFPB has 

developed functionality that allows companies to securely share their responses, including 

documents, with consumers directly via the Company and Consumer Portals. When companies 

prefer to mail or deliver responses and documents directly to their customers, the Company 

Portal enables companies to provide the CFPB with copies.

Consumer Response’s analyses suggest that companies generally selected a closure category that 

is supported by their written complaint response. When this was not the case, companies most 

commonly selected the Closed with explanation category, despite their written complaint 

response indicating that the consumer received monetary or non-monetary relief. Table 1 

summarizes how companies responded in 2022.
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TABLE 1: HOW COMPANIES HAVE RESPONDED TO CONSUMER COMPLAINTS

Financial Product 

or Service

Closed 

with 

monetary 

relief

Closed 

with nonmonetary 

relief

Closed with 

explanation

Admin 

response

Company 

reviewing

Company 

did not 

provide a 

timely 

response

All 2% 31% 61% 2% 3% <1%

Credit or consumer 

reporting

<1% 38% 56% 2% 4% <1%

Debt collection <1% 12% 82% 1% 1% 3%

Checking or 

savings

15% 6% 73% 3% 2% 1%

Credit card 16% 10% 70% 1% 1% 1%

Mortgage 3% 4% 90% 1% <1% 2%

Money transfer or 

service, virtual 

currency

9% 5% 82% 2% 1% 2%

Vehicle loan or 

lease

6% 6% 88% <1% <1% 2%

Student loan 1% 5% 90% <1% 2% 1%

Personal loan 6% 5% 82% 2% 2% 3%

Prepaid card 14% 5% 72% 2% 3% 4%

Credit repair 3% 21% 70% 1% 3% 3%

Payday loan 3% 4% 83% 5% <1% 4%

Title loan 3% 7% 84% <1% <1% 4%

Companies overwhelmingly met the timeliness expectation in their responses to the CFPB.

Companies provided a timely response to 99% of the approximately 819,800 complaints sent to 

them for review in 2022. Approximately 43% of complaints were closed within the initial 

response period of 15 days and 97% were closed within the final response period of 60 days. 

Timely responses are important; however, the CFPB cautions companies about closing 

complaints too quickly if it is to the detriment of completeness or accuracy. Companies have up 

to 60 days from the date they received the complaint to provide a final response to the CFPB and 

the consumer.
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4. Complaint types

This section summarizes the types of complaints received by the CFPB in 2022 and issues 

identified by consumers. As part of its ongoing monitoring work, the CFPB analyzes the 

narrative text provided by consumers and companies.27 Analyzing these texts provides a more 

complete understanding of issues and, importantly, a clearer understanding of how companies 

respond to those issues. Therefore, in addition to summarizing the types of issues identified in 

complaints, this section also briefly discusses topics consumers commonly raised in their 

complaints and potential areas of consumer harm. Where appropriate, the CFPB includes a 

discussion of how product type and issue selections differ for older consumers and 

servicemembers.28

4.1 Credit or consumer reporting

The CFPB received approximately 978,900 credit or consumer reporting complaints in 2022. 

The CFPB sent approximately 617,900 (or 63%) of these complaints to companies for review 

and response, referred 1% to other regulatory agencies, and found 36% to be not actionable. As 

of February 1, 2023, less than 0.1% of credit or consumer reporting complaints were pending 

with the consumer and less than 0.1% were pending with the CFPB.

Companies responded to over 99% of credit or consumer reporting complaints sent to them for 

review and response. Companies closed 56% of complaints with an explanation, 38% with nonmonetary relief, and 0.1% with monetary relief. Companies provided an administrative response 

for 2% of complaints. As of February 1, 2023, 4% of complaints were pending review by the 

company. Companies did not provide a timely response for 0.2% of complaints. 

27 See discussion supra Section 1 (How the CFPB uses complaint information).

28 See supra note 21. Figures in this section display 95% confidence intervals, which estimate the true value for the 

statistic within the specialty population. The lines with each mark show the confidence interval, with a shorter line 

reflecting a narrower range of likely values and a longer line reflecting a wider range of likely values.
20 BUREAU OF CONSUMER FINANCIAL PROTECTION

In 2022, the CFPB received more than 869,000 credit or consumer reporting complaints about 

the three largest nationwide consumer reporting agencies (NCRAs)—Equifax, Experian, and 

TransUnion. In January 2023, pursuant to Section 611(e)(5) of the Fair Credit Reporting Act 

(FCRA), the CFPB published a report that summarized information gathered by the CFPB

regarding certain consumer complaints transmitted by the CFPB to the NCRAs from October 

2021 to September 2022.

29 This report notes, among other things, how the NCRAs’ responses to 

complaints have changed from the prior year.

The remainder of this analysis focuses only on those credit or consumer reporting complaints 

for which the company confirmed a commercial relationship with the consumer and responded 

with an explanation or relief. In 94% of credit or consumer reporting complaints with closure 

responses in 2022, consumers reported that they attempted to resolve their issue with the 

company before submitting a complaint to the CFPB.

When submitting credit or consumer reporting complaints, consumers specify whether their 

complaint is about a credit report or some other personal consumer report (e.g., background 

checks, employment screening). In 2022, consumers complained about credit reporting most 

frequently (Figure 8).

FIGURE 8: CREDIT OR CONSUMER REPORTING COMPLAINTS BY TYPE OF REPORT AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.30 The most 

common issue was incorrect information on your report (Figure 9).

29 See Consumer Fin. Prot. Bureau, Annual report of consumer and credit reporting complaints: An analysis of 

complaint responses by Equifax, Experian, TransUnion (Jan. 2023), 

https://files.consumerfinance.gov/f/documents/cfpb_fcra-611-e_report_2023-01.pdf.

30 For credit or consumer reporting complaints, options include: credit monitoring or identity theft protection 

services; improper use of report; incorrect information on report; problem with a credit reporting company’s 

investigation into an existing problem; problem with fraud alerts or security freezes; and, unable to get credit report 

or credit score.
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FIGURE 9: CREDIT OR CONSUMER REPORTING COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Credit or consumer reporting complaint volume increased in 2022. On average, companies 

responded to more than 48,300 credit or consumer reporting complaints per month (compared 

to a monthly average of 24,500 complaints for the prior two years). Complaints about credit 

reporting increased 97%, while complaints about other personal consumer reports increased 

112% (Figure 10).

FIGURE 10: MONTHLY COMPLAINT VOLUME FOR TYPES OF CREDIT OR CONSUMER REPORTING

COMPLAINTS

In addition to complaints about the NCRAs, consumers also submitted complaints about other 

consumer reporting agencies, such as specialty credit reporting agencies, and data furnishers.

31

31 The CFPB publishes an annual list of consumer reporting companies. This list includes the three nationwide credit 

reporting companies as well as other companies that focus on certain market areas and consumer segments. See

Consumer Fin. Prot. Bureau, List of Consumer Reporting Companies (Jan. 2023), 

https://files.consumerfinance.gov/f/documents/cfpb_consumer-reporting-companies-list_2023.pdf.
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Consumers frequently complained about inaccuracies in their credit reports, including 

incorrectly reported negative information, accounts that did not belong to the consumer, and 

credit inquiries that the consumer did not recognize. In their responses, the companies would 

often state that they were investigating the issue and would follow up with the consumer by 

letter once the investigation was complete.

Consumers also reported difficulty placing or lifting security freezes. Companies sometimes 

responded that they did not have a record of the consumer requesting a security freeze or

responded that they had placed or lifted the freeze on the consumer’s account as requested. 

Some companies responded by giving the consumer instructions on how to place or lift a freeze. 

In complaints about data furnishers, consumers often claimed that there was incorrect 

information included on their credit reports. In response to these complaints, companies would 

sometimes state that the disputed information was valid. In other responses, companies would 

state that they would follow up on the complaint by mail. Some companies asked the consumer 

to provide more information in order to investigate or confirm the consumer’s identity.

Incorrect information from data furnishers can be especially problematic for consumers trying 

to find rental housing. As was discussed in a CFPB 2022 consumer snapshot,32 “through 

complaints and interviews, as well as independent reporting by outside groups, the CFPB has 

heard from renters about issues with inaccurate, obsolete, or misleading information being 

included in tenant screening reports.” As a result of these inaccuracies, consumers facing an 

already difficult rental market can find themselves denied or charged more for renting a 

property.

In 2022, the CFPB also published a complaint snapshot about issues consumers face around 

consumer reporting and debt collection of medical debt.33 In their complaints about consumer 

reporting, consumers often expressed surprise and frustration at finding old or small medical 

debts when checking their credit. Other consumers complained that the debt on their credit 

report was not theirs, or that it was no longer owed. However, since the publication of the 

report, two major changes went into effect. First was the No Surprises Act, which protects

patients from some unexpected medical bills.34 Second, the three largest consumer reporting 

32 See Consumer Fin. Prot. Bureau, Consumer Snapshot: Tenant background checks (Nov. 2022), 

https://files.consumerfinance.gov/f/documents/cfpb_consumer-snapshot-tenant-background-check_2022-11.pdf.

33 See Consumer Fin. Prot. Bureau, Complaint Bulletin: Medical billing and collection issues described in consumer 

complaints (Apr. 2022), https://files.consumerfinance.gov/f/documents/cfpb_complaint-bulletin-medicalbilling_report_2022-04.pdf.

34 Pub. L. 116-260, div. BB, tit. I, 134 Stat. 2758 (2020).
23 BUREAU OF CONSUMER FINANCIAL PROTECTION

companies announced joint measures that will result in two-thirds of medical collections on 

credit reports no longer being reported.

35

4.2 Debt collection

The CFPB received approximately 115,900 debt collection complaints in 2022. The CFPB sent 

approximately 60,400 (or 52%) of these complaints to companies for review and response, 

referred 24% to other regulatory agencies, and found 23% to be not actionable. As of February 1, 

2023, 0.3% of debt collection complaints were pending with the consumer and 0.1% were 

pending with the CFPB.

Consumers can submit complaints about creditors collecting their own debts (i.e., first-party 

collectors) or companies collecting debt on behalf of others, such as creditors or businesses (i.e., 

third-party collectors). When the CFPB received debt collection complaints about companies 

where it was not the primary federal regulator (e.g., a mobile phone or Internet service provider) 

or about depository institutions with less than $10 billion in assets, for example, it referred the 

complaints to other regulatory agencies (e.g., FTC) or a prudential regulator.

Companies responded to 97% of debt collection complaints sent to them for review and 

response. Companies closed 81% of complaints with an explanation, 12% with non-monetary 

relief, and 0.6% with monetary relief. Companies provided an administrative response for 1% of 

complaints. As of February 1, 2023, 1% of complaints were pending review by the company. 

Companies did not provide a timely response for 3% of complaints.

The remainder of this analysis focuses only on those debt collection complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 87% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

35 See Consumer Fin. Prot. Bureau, CFPB Publishes Analysis of Potential Impacts of Medical Debt Credit Reporting 

Changes (Jul. 27, 2022), https://www.consumerfinance.gov/about-us/newsroom/cfpb-publishes-analysis-ofpotential-impacts-of-medical-debt-credit-reporting-changes/. See also Lucas Nathe & Ryan Sandler, Consumer 

Fin. Prot. Bureau, CFPB Publishes Analysis of Potential Impacts of Medical Debt Credit Reporting Changes (Jul 27, 

2022), https://www.consumerfinance.gov/about-us/newsroom/cfpb-publishes-analysis-of-potential-impacts-ofmedical-debt-credit-reporting-changes/.
24 BUREAU OF CONSUMER FINANCIAL PROTECTION

When submitting debt collection complaints, consumers specify the type of debt.36 In 2022, 

other debt (e.g., phone bill, health club membership, utilities) and credit card debt were the 

most complained about types of debt (Figure 11).

FIGURE 11: DEBT COLLECTION COMPLAINTS BY TYPE OF DEBT AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.

37 The most 

common issue was attempts to collect debt not owed (Figure 12).

36 For debt collection complaints, options include: auto debt, credit card debt, federal student loan debt, medical debt, 

mortgage debt, payday loan debt, private student loan debt, other debt, and debt that is not known.

37 For debt collection complaints, options include: attempts to collect debt not owed; communication tactics; false 

statements or representation; threatened to contact someone or share information improperly; took or threatened 

to take negative or legal action; and written notification about debt.
25 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 12: DEBT COLLECTION COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Debt collection complaint volume decreased in 2022. On average, companies responded to 

approximately 4,800 debt collection complaints per month (compared to a monthly average of 

5,000 complaints for the prior two years). 

In 2022, compared to the monthly average for the last two years, the monthly average for 

complaints identifying credit card debt decreased 14%. Complaints about medical debt, private 

student loan debt, payday loan debt, and federal student loan debt also decreased. Only auto 

debt and other debt saw increases over their two-year monthly average.

The most common debt collection complaint was about attempts to collect a debt that the 

consumer reports is not owed. This has been the predominant issue selected by consumers since 

the CFPB began accepting debt collection complaints in 2013. In 2022, the monthly average for 

this issue decreased 8% compared to the monthly average for the prior two years. (Figure 13).
26 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 13: MONTHLY COMPLAINT VOLUME FOR ISSUES OF DEBT COLLECTION COMPLAINTS

In complaints about attempts to collect a debt that the consumer reports is not owed, consumers 

described a range of topics, such as not recognizing the debt, that the debt was fraudulent or the 

result of identity theft, or the debt had been paid, discharged, or settled. In response, companies 

sometimes provided information validating the debt, or stated that the collection had been 

closed and the debt returned to the original creditor. Sometimes companies acknowledged that 

the debt collection was the result of their error, or agreed to stop collections, while some 

companies simply acknowledged receipt of the complaint and stated that the dispute would be 

noted on the consumer’s credit report.

Consumers also submitted complaints about communication tactics used by collectors. In these 

complaints, consumers sometimes stated that they were receiving phone calls before 8 am or 

after 9 pm or were receiving too many phone calls. In their responses, most companies 

maintained that their calling practices conformed with applicable requirements. In some cases, 

debt collectors agreed to add the consumers’ phone numbers to their do-not-call lists.
27 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers often expressed concern about their credit report and score when debt collectors 

furnish negative information that consumers believe to be inaccurate. Some consumers claimed 

that they first learned about debts by looking at their credit report, rather than via a written

communication about the debt. In their responses, most companies either claimed to have sent 

an initial validation notice or provided a copy of it, sometimes with verification information. 

However, some companies simply closed accounts.

Of additional note, older consumers submitted approximately 13% of debt collection complaints 

with a greater percentage complaining about certain debts—most notably, mortgage debt

(Figure 14). 

FIGURE 14: PROPORTION OF DEBT COLLECTION COMPLAINTS FOR OLDER CONSUMERS BY SUBPRODUCT

In those complaints, older consumers often state that the debt has already been paid or 

discharged in bankruptcy, or that the company in attempting to collect the wrong amount. In 

their responses, companies often state that the complaint is the result of confusion or 

misunderstanding on the part of the consumer and assert that their collection attempts are 

valid.
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4.3 Credit card

The CFPB received approximately 50,800 credit card complaints in 2022. The CFPB sent 

approximately 38,000 (or 75%) of these complaints to companies for review and response, 

referred 16% to other regulatory agencies, and found 9% to be not actionable. As of February 1, 

2023, 0.2% of credit card complaints were pending with the consumer and 0.1% were pending 

with the CFPB.

Companies responded to 99% of credit card complaints sent to them for review and response. 

Companies closed 64% of complaints with an explanation, 17% with monetary relief, and 12% 

with non-monetary relief. Companies provided an administrative response for 4% of 

complaints. As of February 1, 2023, 2% of complaints were pending review by the company. 

Companies did not provide a timely response for 1% of complaints. 

The remainder of this analysis focuses only on those credit card complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 93% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting credit card complaints, consumers specify whether they are complaining 

about a general-purpose credit card or charge card, or a store credit card. In 2022, consumers 

complained about general-purpose credit cards or charge cards more frequently than store 

credit cards (Figure 15).

FIGURE 15: CREDIT CARD COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.38 The most 

common issue was problem with a purchase shown on your statement (Figure 16).

38 For credit card complaints, options include: advertising and marketing, including promotional offers; closing your 

account; fees or interest; getting a credit card; other features, terms, or problems; problem when making payments; 

problem with a credit report or credit score; problem with a purchase shown on a statement; trouble using card; 

and struggling to pay bill.
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FIGURE 16: CREDIT CARD COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Credit card complaint volume increased in 2022. On average, companies responded to more 

than 2,900 credit card complaints per month (compared to a monthly average of 2,300

complaints for the prior two years). Complaints about general purpose credit cards or charge 

cards had the greatest change in volume, increasing 29% from the prior two years’ monthly 

average (Figure 17).
30 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 17: MONTHLY COMPLAINT VOLUME FOR TYPES OF CREDIT CARD COMPLAINTS

In 2022, the monthly average for the top issue, problem with a purchase shown on your 

statement, increased 18% compared to the monthly average for the prior two years (Figure 18). 

In these complaints, consumers often disputed transactions which they stated were the result of 

outright fraud or errors on the part of merchants. In response, credit card companies would 

sometimes refund the consumer the disputed charges or would open an investigation. In other 

cases, the company stated that the charge was appearing correctly on the account statement and 

declined to refund the disputed amount.
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FIGURE 18: MONTHLY COMPLAINT VOLUME FOR ISSUES OF CREDIT CARD COMPLAINTS

Complaints about getting a credit card increased in 2022 (Figure 18). In their complaints, 

consumers often stated that someone else had fraudulently applied for a credit card in their 

name. Consumers sometimes stated that they became aware of this problem when they received 

correspondence from the card issuer or noticed the account on a credit report. In their 

responses, card issuers often confirmed that fraud or identity theft had occurred and stated the 

card would be canceled and the account removed from the consumer’s credit report. In other 

complaints about getting a card, some consumers expressed frustration or confusion about 

being declined for a credit card for which they had applied. In response to those complaints, 

companies generally confirmed the denial decision and restated the reasons for the denial.

Consumers also complained that credit card companies did not apply payments correctly or on 

time. Other consumers stated that they encountered problems making payments online or over 

the phone. Some consumers said automatic payments were not processed or applied to their 

accounts, resulting in late fees or negative reporting. In their responses, companies typically 
32 BUREAU OF CONSUMER FINANCIAL PROTECTION

disagreed with consumer claims that payments were not processed correctly or on time. 

Companies asserted payments were not made on time or that prior payments were delinquent, 

resulting in subsequent payments being deemed late. Companies sometimes explained that 

payments were returned due to insufficient funds.

Consumers sometimes complained about frustration with customer service representatives 

when trying to resolve issues. Consumers stated that they were unable to reach representatives, 

did not receive follow-up calls from representatives, experienced long hold times, or received 

conflicting or misleading information. Some consumers said they reached out to companies 

multiple times to resolve issues and were still unsuccessful. Companies typically acknowledged 

consumers’ frustration and apologized for unsatisfactory customer service. Some companies 

pledged to ensure information provided to consumers is accurate. They either offered to send 

the feedback to the team member or provide training to the employee who provided the 

inaccurate information.

Consumers also sometimes reported that they met the disclosed terms of credit card reward 

offers, but the rewards were not given. Some consumers said they applied for credit cards that 

included account opening bonuses, but the reward bonuses were not issued. Other consumers 

reported that they lost accrued awards when their credit cards were closed.

Companies typically responded that consumers did not meet the requirements to redeem the 

rewards and referred consumers to the terms and conditions. Some companies reported that 

when consumers applied for the credit card, they did not apply for the offer that included the 

promotional offer. In situations where the account was still open, the company sometimes

credited the reward to the consumer’s account after the complaint was submitted.

In addition, consumers sometimes reported that credit card companies closed their accounts, 

often without notice or explanation. Some consumers reported account closures resulted in 

reduced credit scores. As noted above, consumers also reported losing earned rewards when 

their accounts were closed.

Companies typically responded that account closures resulted from periodic account reviews, 

and that they had the right to close accounts for any reason, and account closure for inactivity 

was common industry practice. Companies usually declined consumer requests to reopen 

accounts. They also stated that, per the terms and conditions, unclaimed reward points would be 

forfeited in the event of closure for any reason.
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4.4 Checking or savings account

The CFPB received approximately 48,700 checking or savings account complaints in 2022. The 

CFPB sent approximately 38,600 (or 79%) of these complaints to companies for review and 

response, referred 13% to other regulatory agencies, and found 7% to be not actionable. Of the 

13% of checking or savings account complaints referred to other agencies, most were complaints 

submitted about credit unions and other depository institutions with less than $10 billion in 

assets. As of February 1, 2023, 0.2% of checking or savings complaints were pending with the 

consumer and 0.1% were pending with the CFPB.

Companies responded to 99% of checking or savings account complaints sent to them for review 

and response. Companies closed 73% of complaints with an explanation, 15% with monetary 

relief, and 6% with non-monetary relief. Companies provided an administrative response for 3% 

of complaints. As of February 1, 2023, 2% of complaints were pending review by the company. 

Companies did not provide a timely response for 1% of complaints. 

The remainder of this analysis focuses only on those checking or savings account complaints for 

which the company confirmed a commercial relationship with the consumer and responded 

with an explanation or relief. In 96% of these complaints, consumers reported that they 

attempted to resolve their issue with the company before submitting a complaint to the CFPB.

When submitting checking or savings account complaints, consumers specify the type of 

product.39 In 2022, checking account was the most complained about product type (Figure 19).

FIGURE 19: CHECKING OR SAVINGS ACCOUNT COMPLAINTS BY TYPE OF PRODUCT OR SERVICE AND 

OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

39 For checking or savings account complaints, options include: checking account, savings account, certificate of 

deposit (CD), and other banking product or service.
34 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also identify the issue that best describes the problem they experienced.40 The most 

common issue was managing an account (Figure 20).

FIGURE 20: CHECKING OR SAVINGS ACCOUNT COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Checking or savings account complaint volume increased in 2022. Complaints about savings 

accounts had the greatest increase in volume, increasing 51% from the prior two years’ monthly 

average. Complaints about checking accounts increased by 40% (Figure 21).

40 For checking or savings account complaints, options include: closing an account; opening an account; managing an 

account; problem caused by funds being low; problem with a lender or other company charging your account; and

problem with credit report or credit score.
35 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 21: MONTHLY COMPLAINT VOLUME FOR TYPES OF CHECKING OR SAVINGS ACCOUNT 

COMPLAINTS

Similar to 2021, the most common checking or savings account complaint was about managing 

the account. In 2022, the monthly average for the top issue increased 32% compared to the 

monthly average for the prior two years. (Figure 22). 
36 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 22: MONTHLY COMPLAINT VOLUME FOR ISSUES OF CHECKING OR SAVINGS ACCOUNT 

COMPLAINTS

In complaints about managing an account, account holders expressed concern when their 

deposit accounts were closed without them receiving notice or being given a reason for the 

closure. Companies generally responded by referencing Deposit Account Agreements, which 

typically allow the closure of accounts at any time and for any reason. In other complaints about 

managing an account, consumers expressed frustration with credits for deposits or money 

transfers between accounts being delayed. In their responses, companies generally stated that 

this was a fraud protection measure, or a hold period required by law, or the result of a mistake 

on the part of the consumer.

In other complaints about this same issue, consumers stated that funds had been fraudulently 

withdrawn from their accounts via ATM or other method. In their responses, companies 

typically denied finding evidence of fraud, or stated that they were investigating the claim and 

would follow up with the consumer.
37 BUREAU OF CONSUMER FINANCIAL PROTECTION

Some complaints about managing an account involved problems with a company’s customer 

service. Consumers complained that they were unable to reach representatives by phone, email, 

or in person. When they did make contact, consumers reported representatives were unhelpful, 

rude, provided misinformation, or placed them on hold for long periods of time before 

disconnecting the call. Some companies disabled online chat and messaging features. 

Companies typically responded that higher than average call volume resulted in longer hold 

times. Some companies stated there were times they disabled mobile app and online features to 

deal with call volume.

Consumers reported concerns about deposit account overdraft and non-sufficient funds (NSF) 

fees, stating they were not aware of the overdrawn status of their accounts. Some consumers 

stated deposits were held longer than anticipated, leading to NSF and overdraft fees. Companies 

generally responded that overdraft and NSF fees were assessed in accordance with their account 

agreements. Companies stated holds were placed on checks if believed they would not be paid, 

or if an account had repeatedly been overdrawn. Companies typically denied that they made 

errors and denied refunds. When granted, refunds were typically characterized as a courtesy.

Some account holders complained that a bank had taken funds out of a checking or savings 

account to cover fees and overdrafts on an account also associated with that account holder (a 

setoff). In response, banks typically explained that the right of setoff was spelled out clearly in 

the terms and conditions provided to the account holder when the account was opened, and that 

the right had been exercised properly in that instance.

Of additional note, older consumers comprised approximately 23% of checking or savings 

complaints with a greater percentage complaining about certain sub-products—most notably, 

certificates of deposits (CDs) (Figure 23). 
38 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 23: PROPORTION OF CHECKING OR SAVINGS COMPLAINTS FOR OLDER CONSUMERS BY SUBPRODUCT

In their complaints about CDs, older consumers sometimes stated that they faced issues locating 

the funds from CDs purchased many years ago from banks that had since been bought or 

merged with other banks. In response to these complaints, depositories summarized their 

recordkeeping retention requirements and often stated they were unable to locate the CD or 

assist the consumer. Some companies suggested the consumer contact their state’s lost property 

department.

4.5 Mortgage

The CFPB received approximately 29,100 mortgage complaints in 2022. The CFPB sent 

approximately 23,600 (or 81%) of these complaints to companies for review and response, 

referred 10% to other regulatory agencies, and found 8% to be not actionable. As of February 1, 

2023, 0.1% of mortgage complaints were pending with the consumer and 0.1% were pending 

with the CFPB.

Companies responded to 98% of mortgage complaints sent to them for review and response. 

Companies closed 89% of complaints with an explanation, 3% with monetary relief, and 4% with 

non-monetary relief. Companies provided an administrative response for 1% of complaints. As 

of February 1, 2023, 0.9% of complaints were pending review by the company. Companies did 

not provide a timely response for 2% of complaints. 

The remainder of this analysis focuses only on those mortgage complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 95% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.
39 BUREAU OF CONSUMER FINANCIAL PROTECTION

When submitting mortgage complaints, consumers specify the type of mortgage.41 In 2022, 

conventional home mortgages were the most complained about mortgage type (Figure 24).

FIGURE 24: MORTGAGE COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.42 The most 

common issue was trouble during the payment process (Figure 25).

41 For mortgage complaints, options include: conventional home mortgage, Federal Housing Administration (FHA) 

mortgage, home equity loan or line of credit (HELOC), reverse mortgage, Veterans Administration (VA) mortgage, 

and other types of mortgages.

42 For mortgage complaints, options include: applying for a mortgage or refinancing an existing mortgage; closing on 

a mortgage; problem with a credit or consumer report; struggling to pay mortgage; and trouble during payment 

process.
40 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 25: MORTGAGE COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Overall, mortgage complaint volume decreased in 2022. On average, companies responded to 

more than 1,900 mortgage complaints per month (compared to a monthly average of 2,100

complaints for the prior two years). (Figure 26). The monthly average for reverse mortgage 

complaints increased 33% compared to the monthly average for the prior two years. The 

monthly average for FHA mortgage complaints increased 7% compared to the monthly average 

for the prior two years.
41 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 26: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF MORTGAGE COMPLAINTS

In 2022, the monthly average for the top issue, trouble during payment process, decreased 5% 

compared to the monthly average for the prior two years (Figure 27). Issues related to 

purchasing a home (e.g., applying for a mortgage or refinancing an existing mortgage; closing on 

a mortgage) also decreased. This decrease is likely due at least in part to inflation and the rising 

costs of homeownership, which have had a significant impact on housing sales.43

43 See, e.g., Scott Fulford, Elizabeth Saunders, & Eric Wilson, Consumer Fin. Prot. Bureau, Office of Research Blog: 

Even as rents increase, fewer people are buying (Jan. 2023), https://www.consumerfinance.gov/aboutus/blog/office-of-research-blog-even-as-rents-increase-fewer-people-are-buying/.
42 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 27: MONTHLY COMPLAINT VOLUME FOR ISSUES(S) OF MORTGAGE COMPLAINTS

In 2022, consumers continued to raise concerns about forbearance. Consumers exiting 

forbearance plans stated that companies delayed reviewing and implementing modifications 

and deferrals. Consumers also reported receiving confusing or conflicting communications 

about modification and deferral options, and about payment amounts and timing. Consumers 

applying for Homeowner Assistance Fund (HAF) plans stated companies did not provide 

requested information to state HAF programs in a timely manner, or that companies did not 

timely apply HAF payments.

In response to these complaints companies typically provided details of loss mitigation reviews, 

including missing documentation, denials, and previously approved modifications. Companies 

often stated they needed further documentation to review loss mitigation applications. Some 

companies stated they received payments from state HAF programs without any loan identifying 

information. Some companies apologized for delays and for representatives providing 

inaccurate information.
43 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also expressed concern that their servicers began foreclosure proceedings while they 

were trying to obtain a modification or another home retention plan. Many of these loans 

appeared to be delinquent before the passage of the Coronavirus Aid, Relief, and Economic 

Security (CARES) Act in March 2020.

Companies typically indicated that they reviewed consumers’ loan files and had denied loss 

mitigation applications because the applications were incomplete, or the company could not 

offer an affordable payment plan. Servicers sometimes reported that the most recent loss 

mitigation application was within 37 days of the scheduled foreclosure sale date. Companies 

sometimes agreed to postpone foreclosure sales if consumers would submit new or missing 

information as part of loss mitigation reviews.

In their complaints about reverse mortgages, consumers often express frustration in either 

getting statements or a payoff amount from their lender, or state that they are having difficulties 

making a payment or paying off a mortgage. In their responses, companies will sometimes 

apologize for the delay and provide the requested information. In other responses, companies 

will request follow up information from consumers. 

One area of particular concern to the CFPB is mortgage appraisals.44 Both undervaluation and 

overvaluation of a home can hurt both the owners and the surrounding community. In their 

complaints about purchasing or refinancing a home, consumers generally expressed 

dissatisfaction with valuations that appraisers provided and described how those valuations 

frustrated their ability to continue with their purchase. Some consumers stated that they 

believed they had been discriminated against. In their responses, companies consistently denied 

any racial bias in their appraisal process or stated that they could not substantiate the 

consumer’s claims. However, companies did sometimes revisit the original appraisal and raise it

after receiving the consumer’s complaint.

44 See, e.g., Blog, Patrice Alexander Ficklin, Makalia Griffith, & Tim Lambert, Consumer Fin. Prot. Bureau, Mortgage 

Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process (Oct. 6, 2022), 

https://www.consumerfinance.gov/about-us/blog/mortgage-borrowers-can-challenge-inaccurate-appraisalsthrough-the-reconsideration-of-value-process/. See also Seth Frotman, Zixta Q. Martinez, & Jon Seward, 

Consumer Fin. Prot. Bureau, Protecting homeowners from discriminatory home appraisals (Mar. 13, 2023), 

https://www.consumerfinance.gov/about-us/blog/protecting-homeowners-from-discriminatory-homeappraisals/; Patrice Alexander Ficklin & Tim Lambert, Consumer Fin. Prot. Bureau, Appraisal standards must 

include federal prohibitions against discrimination (Feb. 14, 2023), https://www.consumerfinance.gov/aboutus/blog/appraisal-standards-must-include-federal-prohibitions-against-discrimination/.
44 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.6 Money transfer, money services, and 

virtual currencies

The CFPB received approximately 21,700 money transfer, money service, and virtual currency 

(collectively, “money services”) complaints in 2022. The CFPB sent approximately 13,800 (or 

64%) of these complaints to companies for review and response, referred 25% to other 

regulatory agencies, and found 11% to be not actionable. As of February 1, 2023, 0.4% of money 

services complaints were pending with the consumer and 0.2% were pending with the CFPB.

Companies responded to 98% of money services complaints sent to them for review and 

response. Companies closed 82% of complaints with an explanation, 9% with monetary relief, 

and 5% with non-monetary relief. Companies provided an administrative response for 2% of 

complaints. As of February 1, 2023, 1% of complaints were pending review by the company. 

Companies did not provide a timely response for 1% of complaints. 

The remainder of this analysis focuses only on those money services complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 94% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting money services complaints, consumers specify the type of product.45 In 2022, 

mobile or digital wallet was the most complained about type of product (Figure 28).

45 For complaints about money services, options include: check cashing service; debt settlement; domestic (U.S.) 

money transfer; foreign currency exchange; international money transfer; mobile or digital wallet; money order; 

refund anticipation check; traveler's check or cashier's check; and virtual currency.
45 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 28: MONEY SERVICES COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.46 The most 

common issue was fraud or scam (Figure 29).

46 For complaints about money services, options include: confusing or misleading advertising and marketing; 

confusing or missing disclosures; fraud or scam; incorrect exchange rate; lost or stolen check; lost or stolen money 

order; managing, opening, or closing your mobile wallet account; money was not available when promised; other 

transaction problem; other service problem; overdraft, savings, or rewards features; problem adding money; 

problem with customer service; unauthorized transactions or other transaction problem; unexpected or other fees; 

and, wrong amount charged or received.
46 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 29: MONEY SERVICES COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Money services complaint volume increased in 2022. On average, companies responded to more 

than 1,100 money services complaints per month (compared to a monthly average of 900

complaints for the prior two years). Among the types of products in this category, traveler’s 

check or cashier’s check had the greatest change, increasing 73% from the prior two years’ 

monthly average (Figure 30).
47 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 30: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF MONEY SERVICES COMPLAINTS

In 2022, the monthly average for the top issue, fraud or scam, increased 91% compared to the 

monthly average for the prior two years (Figure 31). 
48 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 31: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF MONEY SERVICES COMPLAINTS

In their complaints about fraud and scams, consumers stated that they were often tricked into 

sending money via phishing/smishing scams. Several virtual currency consumers lost money 

when they were contacted by scammers or fraudsters posing as investment or financial 

institution representatives. Digital wallet consumers reported they were scammed when they 

sought to purchase goods or services from people they do not know, while others were seeking to 

secure apartment rentals in highly competitive markets. 

Companies typically stated that digital wallets and payment apps are primarily designed for 

personal use, and do not offer protection programs for purchases or sales. Money transfer 

companies typically stated their obligation is to send transfers based solely on information 

provided by the consumer. Crypto-asset firms typically explained that blockchain transactions 

are irreversible, and once completed cannot be cancelled.
49 BUREAU OF CONSUMER FINANCIAL PROTECTION

Complaints about virtual currency (or “crypto-assets”), including complaints of fraud, were a 

focus of the CFPB in 2022. In November of last year, the CFPB published a complaint bulletin 

analyzing complaints related to these types of digital assets.47 This report found that fraud, theft, 

hacks, and scams are a significant problem in crypto-asset markets. The top issue across all 

crypto-asset complaints was fraud or scam, and this issue appears to be getting worse. Some 

consumers stated that they had lost hundreds of thousands of dollars due to unauthorized 

account access. Consumers reported many different scam types, including romance scams, and 

scammers posing as influencers or customer service. Crypto-assets are often targeted in 

romance scams, where scammers play on a victim’s emotions to extract money. According to the 

FTC, of all romance scam payment types, crypto-asset romance scams accounted for the highest 

median individual reported losses.

In their complaints about money transfers, consumers reported sending money domestically 

and internationally that was delayed or never received. Some consumers reported delays when 

they transferred money between their own accounts which resulted in hardship, such as when 

they needed money on vacation or living abroad.

Companies typically reported that the transfer was completed after an unspecified delay. Other 

companies explained that compliance reviews were the cause of the delay. When companies 

reported recall attempts for funds never received, recovery was usually unsuccessful because the 

receiver never responded. In a few complaints the company indicated the problems arose when 

consumers entered the wrong account number or made some other error.

The CFPB also receives complaints about large technology and peer-to-peer platforms that 

operate payment services. Although the largest of these companies by payment volume does not 

participate in the CFPB’s complaint process, most others do. In complaints about these 

companies, consumers often complained about unexpected fees or money deducted from their 

accounts without warning causing overdrafts. Other complaints reported problems with 

unauthorized transactions, problems getting refunds for defective merchandise, claims of fraud 

or scams on their accounts, and problems with purchases shown on their statements. Some

consumers also complained about problems opening or closing accounts, as well as furnishing 

errors.

47 See Consumer Fin. Prot. Bureau, Complaint Bulletin: An analysis of consumer complaints related to crypto-assets 

(Nov. 2022), https://files.consumerfinance.gov/f/documents/cfpb_complaint-bulletin_crypto-assets_2022-11.pdf.
50 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.7 Vehicle loan or lease

The CFPB received approximately 13,200 vehicle loan or lease complaints in 2022. The CFPB 

sent approximately 8,700 (or 66%) of these complaints to companies for review and response, 

referred 21% to other regulatory agencies, and found 12% to be not actionable. As of February 1, 

2023, 0.2% of vehicle loan or lease complaints were pending with the consumer and 0.2% were 

pending with the CFPB.

Some consumers submit complaints about vehicle dealerships. The CFPB generally does not 

send vehicle loan or lease complaints to vehicle dealerships for response unless the dealer 

retains motor vehicle installment sales contracts (often known as “buy here, pay here” dealers).

Companies responded to 98% of vehicle loan or lease complaints sent to them for review and 

response. Companies closed 88% of complaints with an explanation, 2% with monetary relief, 

and 5% with non-monetary relief. Companies provided an administrative response for 1% of 

complaints. As of February 1, 2023, 0.9% of complaints were pending review by the company. 

Companies did not provide a timely response for 2% of complaints. 

The remainder of this analysis focuses only on those vehicle loan or lease complaints for which 

the company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 92% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

Consumers who submit vehicle loan or lease complaints specify whether they are complaining 

about a vehicle loan or lease. In 2022, consumers complained about vehicle loans more 

frequently than vehicle leases (Figure 32).

FIGURE 32: VEHICLE LOAN OR LEASE COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses
51 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers identify the issue that best describes the problem they experienced.48 The most 

common issue was managing the loan or lease (Figure 33).

FIGURE 33: VEHICLE LOAN OR LEASE COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Vehicle loan or lease complaint volume increased in 2022. On average, companies responded to 

more than 700 vehicle loan or lease complaints per month (compared to a monthly average of 

600 complaints for the prior two years). Monthly complaint volume about vehicle loans 

increased 17% compared to the monthly average for the prior two years (Figure 34).

FIGURE 34: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF VEHICLE LOAN OR LEASE COMPLAINTS

In 2022, the monthly average for the top issue, managing the loan or lease, increased 11% 

compared to the monthly average for the prior two years. (Figure 35).

48 For vehicle loan or lease complaints, options include: getting a loan or lease; managing the loan or lease; problems 

at the end of the loan or lease; problem with credit report or credit score; and struggling to pay loan.
52 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 35: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF VEHICLE LOAN OR LEASE COMPLAINTS

In their complaints, consumers expressed frustration when companies delayed providing vehicle 

registrations, titles, and lien releases. Consumers reported difficulties contacting company 

representatives for assistance and stated requests for return calls were often ignored. 

Consumers stated they were inconvenienced by delays because they were unable to drive or 

refinance their vehicles. Some consumers stated they experienced problems having companies 

removed from their vehicle title.

Companies frequently apologized for title and lien release delays and typically provided dates 

and tracking information for mailed titles. Companies also frequently blamed delays on the 

influx of consumer requests, dealerships, the Divisions of Motor Vehicles, and automatic vehicle 

registration systems. In rare instances, companies admitted to making errors but more 

frequently stated that delays were caused by consumers failing to provide requested 

information.
53 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also complained that companies denied requests for payment assistance during 

times of financial hardship. Some consumers acknowledged receiving payment extensions, but 

stated they needed additional relief because of income loss due to the coronavirus. Other 

consumers reported surrendering vehicles because of mechanical issues where the cost of 

repairs would have exceeded the vehicle’s value. Consumers also expressed confusion about 

deficiency balances that remained after repossessions and voluntary surrenders.

Companies typically denied wrongful repossessions and referenced contractual agreements with 

consumers. Companies stated repossessions were generally the result of consumers failing to 

make monthly payments and other broken payment arrangements. Some companies 

acknowledged being unable to approve further assistance, asserting that all available options 

had been exhausted. In some instances, companies stated that they provided additional 

assistance after receiving consumer complaints.

Consumers also expressed frustration with dealerships and finance companies concerning auto 

loans. Consumers stated they were pressured into certain loans, that loans were opened without 

consent, they were presented blank documents to sign, or that the company made mistakes in 

listing the primary borrower or co-signer. Other consumers reported buying vehicles with 

mechanical issues. Consumers frequently denied receiving disclosures explaining finance 

charges, installment amounts, and recission periods.

Company responses typically asserted that consumers signed contracts detailing loan terms. 

Companies stated consumers received all loan disclosures at the time of purchase and that 

companies followed applicable laws and regulations. Companies often informed consumers of 

their independence from dealerships and referred consumers back to the dealership to discuss 

mechanical problems and alleged deceptive sales practices.

Additionally, consumers reported fraudulent loans being opened in their names and requested 

that companies remove unfamiliar accounts from their credit reports. Some consumers stated 

they learned of fraudulent auto loan accounts after receiving credit report alerts and 

correspondence from loan companies.

When consumers received responses, companies generally responded that investigations into 

claims of identity theft were unsubstantiated, and the auto loans reported to the credit reporting 

companies were valid. Some companies requested that consumers submit fraud packages and 

police reports. Company responses rarely validated consumer identity theft claims. However, in 

some instances they confirmed fraudulent activity and requested credit reporting changes.

Lastly, some consumers reported that companies unfairly denied auto loan applications, with 

some asserting they were declined despite having high credit scores or making sizable down 

payments. Some consumers claimed discrimination based on their race and other factors. 
54 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers expressed confusion about the ability of companies to decline loans. These 

complaints frequently appeared to be on template complaint forms and cited the Truth in 

Lending Act and Equal Credit Opportunity Act.

Companies typically responded that they evaluated consumer credit applications and the 

consumer’s credit report. Companies typically denied discriminatory practices and maintained 

all federal and regulatory laws were followed during decision making. Companies also explained 

credit scores vary depending on the credit model used by the credit reporting companies.

4.8 Student loan

The CFPB received approximately 10,100 student loan complaints in 2022. The CFPB sent 

approximately 8,000 (or 79%) of these complaints to companies for review and response, 

referred 11% to other regulatory agencies, and found 10% to be not actionable. As of February 1, 

2023, 0.3% of student loan complaints were pending with the consumer and 0.1% were pending 

with the CFPB.

Companies responded to 99% of student loan complaints sent to them for review and response. 

Companies closed 90% of complaints with an explanation, 1% with monetary relief, and 5% with 

non-monetary relief. Companies provided an administrative response for 0.5% of complaints. As 

of February 1, 2023, 2% of complaints were pending review by the company. Companies did not 

provide a timely response for 1% of complaints. 

The remainder of this analysis focuses only on those student loan complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 92% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting student loan complaints, consumers specify whether they are complaining 

about a federal student loan or a private student loan. In 2022, consumers complained about 

federal student loans more frequently than private student loans (see Figure 36).49

49 The size of the private and federal student loan markets vary significantly. See, e.g., Consumer Fin. Prot. Bureau, 

Report of the CFPB Education Loan Ombudsman (Oct. 2022), 

https://files.consumerfinance.gov/f/documents/cfpb_education-loan-ombudsman_report_2022-10.pdf

(discussing the size of the student loan market is $1.745 trillion with an estimated $128 billion in private loans and 

$1.617 trillion in federal student loans).
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FIGURE 36: STUDENT LOAN COMPLAINTS BY TYPE OF LOAN AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.50 The most 

common issue was dealing with your lender or servicer (Figure 37).

FIGURE 37: STUDENT LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Student loan complaint volume increased in 2022. On average, companies responded to more 

than 600 student loan complaints per month (compared to a monthly average of over 300 

complaints for the prior two years) (Figure 38). Complaints about federal student loans 

increased 108% while complaints about private student loans increased 45%, likely due to 

questions and confusion around the pandemic payment pause extension and extensive changes 

to federal student loans repayment programs proposed by the Department of Education51 and 

temporary changes to the Public Student Loan Forgiveness (PSLF) program.52

50 For student loans, options include: dealing with a lender or servicer; getting a loan; problem with a credit or 

consumer report; and struggling to repay a loan. When consumers select federal student loan and the issue of

getting a loan, the CFPB directs consumers to the U.S. Department of Education.

51 See, e.g., Press Release, U.S. Dep’t of Educ., Department of Education Announces Actions to Fix Longstanding 

Failures in the Student Loan Programs (Apr. 19, 2022), https://www.ed.gov/news/press-releases/departmenteducation-announces-actions-fix-longstanding-failures-student-loan-programs. 

52 See, e.g., Press Release, U.S. Dep’t of Educ., Department of Education Announces Transformational Changes to the 

Public Service Loan Forgiveness Program, Will Put Over 550,000 Public Service Workers Closer to Loan 

Forgiveness (oct. 6, 2021), https://www.ed.gov/news/press-releases/us-department-education-announcestransformational-changes-public-service-loan-forgiveness-program-will-put-over-550000-public-service-workerscloser-loan-forgiveness. 
56 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 38: MONTHLY COMPLAINT VOLUME FOR STUDENT LOAN TYPES

The increase in federal student loan complaints that began near the end of 2022 was largely 

driven by consumers complaining about trouble with their lender or servicer. In some of these 

complaints, consumers expressed frustration about the trouble they were having getting 

information from their lender about the Public Service Loan Forgiveness (PSLF) program and 

their qualified payment counts. In other complaints, consumers stated they were having trouble 

getting refunds for student loan payments they made during the forbearance period. 

Consumers also reported problems with how some student loan servicers were applying 

payments to their accounts. Some consumers stated payments were not credited to their account 

and some stated their payments were mostly applied to interest rather than principal.

Companies generally responded that payments are first applied toward either unpaid fees or 

unpaid interest and then toward principal balance. Some companies acknowledged their 

payment application error and took corrective action.

In complaints about the PSLF program, consumers stated that their student loan servicers did 

not accurately count their qualifying payments under the PSLF and Temporary Expanded Public 

Service Loan Forgiveness (TEPSLF) programs. Student loan servicers typically responded with 

an accounting of qualified payments or provided an explanation for payments that were unable 

to be counted towards PSLF and TEPSLF.

Consumers also complained that their credit reports reflected late payments which caused their 

credit scores to drop and, in some cases, prevented consumers from obtaining new credit. 

Companies generally responded that based on their research the reporting is accurate. These 

companies also referenced the FCRA and stated it required them to accurately report 

information. Some companies did make favorable adjustments to update reported information.

Consumers complained about being solicited by callers alleging be student loan servicers 

offering loan forgiveness. Consumers stated they were coaxed into providing personally

identifying information and that money was withdrawn from their bank accounts. In response to 
57 BUREAU OF CONSUMER FINANCIAL PROTECTION

these complaints, student loan servicers stated that they had not called the consumer and it was 

likely that the consumer had been contacted by a scammer.

Finally, consumers reported their borrower defense to repayment applications were denied and 

they should not have to pay student loan balances because the school misled them. Responses to 

these complaints generally explained that the claim had been submitted to the Department of 

Education for review; and confirmed that the process is lengthy. Companies also explained that

the Department of Education’s defense to repayment program excludes private student loans.

4.9 Personal loan

The CFPB received approximately 7,200 personal loan complaints in 2022. The CFPB sent 

approximately 4,400 (or 62%) of these complaints to companies for review and response, 

referred 27% to other regulatory agencies, and found 11% to be not actionable. As of February 1, 

2023, 0.3% of personal loan complaints were pending with the consumer and 0.2% were 

pending with the CFPB.

Companies responded to 96% of personal loan complaints sent to them for review and response. 

Companies closed 82% of complaints with an explanation, 6% with monetary relief, and 5% with 

non-monetary relief. Companies provided an administrative response for 2% of complaints. As 

of February 1, 2023, 2% of complaints were pending review by the company. Companies did not 

provide a timely response for 3% of complaints.

The remainder of this analysis focuses only on those personal loan complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 91% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting personal loan complaints, consumers can specify whether they obtained the 

loan online or at a store (in person). In 2022, consumers complained about personal loans 

obtained online more than personal loans obtained at a store (Figure 39).
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FIGURE 39: PERSONAL LOAN COMPLAINTS BY LOAN SOURCE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

When submitting personal loan complaints, consumers specify the type of product.53 In 2022, 

installment loans were the most complained about type of personal loan product (Figure 40).

FIGURE 40: PERSONAL LOAN COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.54 The most 

common issue was charged fees or interest you didn’t expect (Figure 41).

53 Options include: installment loan, personal line of credit, or pawn loan.

54 For personal loan complaints, options include: can't contact lender or servicer; charged unexpected fee or interest; 

credit limit changed; getting the loan; getting a line of credit; problem with a credit report or score; problem with 

additional add-on product or services; problem with cash advance; problem with the payoff process at the end of 

the loan; problem when making payments; and struggling to pay loan. Additional options are available for some 

personal loan complaint types.
59 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 41: PERSONAL LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

In their complaints about being charged fees or interest they did not expect, borrowers 

sometimes stated that none or very little of their loan payments had gone toward the principal. 

In their responses, companies generally explained how interest was calculated and payments 

were applied and maintained that the payment had been applied correctly.

Consumers also submitted complaints about problems with the process of making payments. In 

some cases, the borrowers were unable to access their accounts online or update payment 

information. In their responses, companies sometimes stated that the issue had been escalated 

to a technical team or advised the consumer to send a payment by mail. 

Consumers also complained about being denied for a loan and would sometimes additionally 

claim that the company had violated the FCRA or were engaging in credit discrimination. In 

their responses, companies denied any violations or discrimination and re-stated the reasons for 

the initial denial. 

Consumers also often reported late payments on their credit reports were inaccurate. 

Conversely, other consumers acknowledged the accuracy of the reported late payment but 

requested courtesy removals of the negative reporting due to the impact on their ability to 

obtain other credit. Consumers described being victims of identity theft and that the accounts or 
60 BUREAU OF CONSUMER FINANCIAL PROTECTION

inquiries on their report did not belong to them. Some consumers stated their charged off or 

paid in full accounts were reported inaccurately.

Companies often explained the reporting was accurate and they were required to report accurate 

information to the credit reporting companies and accounts must accurately reflect account 

activity and status. In some instances, companies acknowledged reporting errors and updated 

credit reporting, removed accounts, or agreed to remove the negative reporting as a courtesy.

Buy Now, Pay Later (BNPL) loans are increasingly popular in the financial marketplace and 

have become an area of interest for the CFPB. In its September 2022 report, the CFPB stated 

that, from 2019 to 2021, the number of BNPL loans originated in the U.S. by the five lenders 

surveyed grew by 970%.

55

Consumers complaining about BNPL loans often mention problems resolving disputes about 

receiving incorrect merchandise, or not receiving merchandise at all. These problems may be 

exacerbated by the lack of uniform billing dispute rights for BNPL loans. For example, some 

BNPL lenders require that consumers first, or exclusively, contact the merchant for dispute 

resolution, while others require consumers to continue to pay remaining installments by 

continued withdrawal of funds from the consumer’s debit card while resolution of the return or 

dispute is pending. In response to these complaints, BNPL lenders sometimes offered 

consumers a refund. In other instances, they stated they were unable to assist for various 

reasons such as lack of action on a consumer’s part.56

4.10 Prepaid card

The CFPB received approximately 6,200 prepaid card complaints in 2022. The CFPB sent 

approximately 3,400 (or 55%) of these complaints to companies for review and response, 

referred 34% to other regulatory agencies, and found 10% to be not actionable. As of February 1, 

2023, 0.4% of prepaid card complaints were pending with the consumer and 0.2% were pending 

with the CFPB.

Companies responded to 96% of prepaid card complaints sent to them for review and response. 

Companies closed 72% of complaints with an explanation, 14% with monetary relief, and 5% 

with non-monetary relief. Companies provided an administrative response for 2% of complaints. 

55 Consumer Fin. Prot. Bureau, Buy Now, Pay Later: Market trends and consumer impacts (Sep. 2022), 

https://files.consumerfinance.gov/f/documents/cfpb_buy-now-pay-later-market-trends-consumerimpacts_report_2022-09.pdf. 

56 Id.
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As of February 1, 2023, 3% of complaints were pending review by the company. Companies did 

not provide a timely response for 3% of complaints. 

The remainder of this analysis focuses only on those prepaid card complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 95% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting prepaid card complaints, consumers specify the type of product.57 In 2022, 

general-purpose prepaid cards were the most complained about prepaid product type (Figure

42).

FIGURE 42: PREPAID COMPLAINTS BY TYPE OF CARD AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.58 The most 

common issue was problem with a purchase or transfer (Figure 43).

57 Options include: general-purpose prepaid card; gift card; government benefit card; payroll card; and student 

prepaid card.

58 Options include: advertising; problem getting a card or closing an account; problem with a purchase or transfer; 

problem with overdraft; trouble using the card; and unexpected or other fees.
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FIGURE 43: PREPAID COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Overall, prepaid card complaint volume decreased in 2022. On average, companies responded 

approximately 300 prepaid card complaints per month (compared to a monthly average of 

about 400 complaints for the prior two years). Complaints about government benefit cards 

declined 58%, while complaints about gift cards increased 90% (Figure 44).
63 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 44: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF PREPAID CARD COMPLAINTS

In 2022, the monthly average for the top issue, problem with a purchase or transfer, decreased 

9% compared to the monthly average for the prior two years. (Figure 45).
64 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 45: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF PREPAID CARD COMPLAINTS

While prepaid card complaint volumes declined in 2022, consumers still frequently complained 

about customer service issues. Consumers reported difficulty in reaching customer service 

representatives for assistance with their prepaid card accounts. Consumers stated that when 

attempting to activate their card or report unauthorized usage, they experienced long hold 

times, dropped calls, failed transfers, and recorded messages about high call volume.

Companies generally apologized for dissatisfaction or frustration experienced by consumers 

when trying to contact customer service. Some companies acknowledged high call volume, 

advising consumers to call during early morning or late evening hours. They also recommended 

that consumers activate prepaid cards using company websites or Interactive Voice Response 

(IVR) systems.

Consumers also complained about unauthorized or fraudulent charges made to their prepaid 

cards. Consumers typically said they learned of such card charges when they lost or failed to 
65 BUREAU OF CONSUMER FINANCIAL PROTECTION

receive an expected card and subsequently submitted a dispute. Some consumers reported 

having possession of their cards, yet funds were still taken from their accounts.

Companies generally responded that cards were closed upon receipt of consumer disputes with 

new cards and provisional credits issued during claim investigations. Upon identification of 

fraud, funds were typically credited back to accounts. Companies stated they denied claims 

based on inconsistent or conflicting information, claims filed beyond allowable time limits, 

claims with no evidence of invalid use of card attempts, and protections associated with the use 

of chip cards.

Consumers also expressed frustration about the inability to access funds on prepaid cards due to 

activation issues, blocks, holds, frozen accounts, and cancelled cards. Consumers stated they 

experienced limited access to paychecks, child support, and unemployment and other 

government benefits. Consumers were asked to provide companies with identity verification 

documents, such as social security cards, bank statements, proof of residency, and governmentissued photo identification before restrictions were removed.

Companies generally responded that temporary restrictions were placed on prepaid card 

accounts due to suspicious activity and requested documents to verify cardholder identities. 

Companies stated fraud monitoring measures were to prevent loss to the consumers and banks. 

Companies also stated they released restrictions once they confirmed cardholder identities.

Finally, consumers stated in complaints that funds were taken from their unemployment 

benefits cards through unauthorized transactions, and fraudulent transfers and withdrawals. 

Consumers were asked to provide police reports and fraud affidavits when disputing the 

transactions.

Companies generally responded that documentation was received, but claims were denied 

because they were not filed within required timeframes, or no bank errors were identified in 

account handling. When fraud was identified, permanent credits were reissued. Some 

companies were unable to determine that fraud occurred in instances where there were no 

invalid PIN attempts.

Older consumers submitted approximately 23% of prepaid card collection complaints with a 

greater percentage complaining about certain sub-products—most notably, gift cards (Figure 

46). 
66 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 46: PROPORTION OF PREPAID CARD COMPLAINTS FOR OLDER CONSUMERS BY SUB-PRODUCT

In these complaints, older consumers often stated that they found out that a gift card they had 

purchased or received had a depleted balance when they attempted to use it for the first time, 

typically as a result of unauthorized use. In their responses, companies generally apologized for 

the inconvenience and re-issued a new gift card for the same amount as the original. 

4.11 Credit repair

The CFPB received approximately 2,600 credit repair complaints in 2022. The CFPB sent 

approximately 1,500 (or 58%) of these complaints to companies for review and response, 

referred 23% to other regulatory agencies, and found 18% to be not actionable. As of February 1, 

2023, 0.6% of credit repair complaints were pending with the consumer and 0.4% were pending 

with the CFPB.

Companies responded to 97% of credit repair complaints sent to them for review and response. 

Companies closed 70% of complaints with an explanation, 3% with monetary relief, and 21% 

with non-monetary relief. Companies provided an administrative response for 1% of complaints. 

As of February 1, 2023, 3% of complaints were pending review by the company. Companies did 

not provide a timely response for 3% of complaints. 

The remainder of this analysis focuses only on those credit repair complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 69% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.
67 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers identify the issue that best describes the problem they experienced.59 The most 

common issue was fraud or scam (Figure 47).

FIGURE 47: CREDIT REPAIR COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Similar to past years, consumers do not seem to readily distinguish among the many different 

products that purport to help them with credit reports and scores, such as credit repair 

companies, websites that provide free credit scores, credit monitoring services, debt settlement 

services, and new products that are marketed towards improving consumers’ credit scores by 

crediting them for making regular and on-time utility and other payments. 

Consumers often expressed dissatisfaction with the benefits they received from credit repair 

companies, often stating that the cost of the services offered was not worth the benefits 

provided. In their responses, companies sometimes stated that they were unable to guarantee 

specific results. 

4.12 Payday loan

The CFPB received approximately 1,800 payday loan complaints in 2022. The CFPB sent 

approximately 1,000 (or 54%) of these complaints to companies for review and response, 

referred 35% to other regulatory agencies, and found 11% to be not actionable. As of February 1, 

2023, 0.3% of payday loan complaints were pending with the consumer and 0.2% were pending 

with the CFPB.

59 For credit repair complaints, options include: confusing or misleading advertising or marketing; confusing or 

missing disclosures; excessive fees; fraud or scam; problem with customer service; and unexpected or other fees.
68 BUREAU OF CONSUMER FINANCIAL PROTECTION

Companies responded to 96% of payday loan complaints sent to them for review and response. 

Companies closed 83% of complaints with an explanation, 3% with monetary relief, and 4% with 

non-monetary relief. Companies provided an administrative response for 5% of complaints. As 

of February 1, 2023, 0.9% of complaints were pending review by the company. Companies did 

not provide a timely response for 4% of complaints. 

The remainder of this analysis focuses only on those payday loan complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 85% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting payday loan complaints, consumers can specify whether they obtained the 

loan online or at a store (in person). In 2022, consumers complained about payday loans 

obtained online more than payday loans obtained at a store (Figure 48).

FIGURE 48: PAYDAY LOAN COMPLAINTS BY LOAN SOURCE AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Consumers also identify the issue that best describes the problem they experienced.60 The most 

common issue was charged fees or interest you didn’t expect (Figure 49).

60 For payday loan complaints, options include: can’t contact lender or servicer; can’t stop withdrawals from bank 

account; charged unexpected fees or interest; loan payment was not credited to account; money was taken from 

bank account on the wrong day or for the wrong amount; problem with a credit report or credit score; problem with 

the payoff process at the end of the loan; received a loan consumer did not apply for; struggling to pay loan; and, 

was approved for a loan, but didn't receive the money.
69 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 49: PAYDAY LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Similar to complaints about personal loans, consumers complaining about payday loans 

complained about being charged fees or interest they did not expect. In some of these 

complaints, borrowers sometimes stated that none or very little of their loan payments had gone 

toward the principal. Consumers sometimes also stated that they felt the company’s practices 

were predatory or violated state laws. 

In their responses, companies generally explained how interest was calculated and payments 

applied and maintained that the payment had been applied correctly. Some companies also 

stated that they were owned by sovereign tribes and as such were not subject to regulations by 

states. 

Consumers also submitted complaints stating that they had received a loan they did not apply 

for. Often the consumer would state they only became aware of the loan when it appeared on 

their credit report. In other cases, consumers stated that they received a check in the mail and 

deposited it without realizing that by cashing the check they were agreeing to the terms of a 

loan. In some instances, companies responded by advising the consumer to submit further 

information to pursue an identity theft claim. In other instances, the companies stated that the 

loan was valid and would not be canceled. 

Borrowers also submitted complaints about struggling to repay loans, sometimes citing external 

factors such as illness or unexpected expenses. In their responses, companies generally stated 

that the consumer had been provided with all applicable disclosures at the beginning of the loan 
70 BUREAU OF CONSUMER FINANCIAL PROTECTION

and had agreed to the repayment terms. Some companies encouraged consumers to contact 

them to discuss available payment options. 

4.13 Title loan

The CFPB received approximately 800 title loan complaints in 2022. The CFPB sent 

approximately 500 (or 65%) of these complaints to companies for review and response, referred 

23% to other regulatory agencies, and found 11% to be not actionable. As of February 1, 2023, 

less than 0.1% of title loan complaints were pending with the consumer and 0.3% were pending 

with the CFPB.

Companies responded to 96% of title loan complaints sent to them for review and response. 

Companies closed 84% of complaints with an explanation, 3% with monetary relief, and 7% with 

non-monetary relief. Companies provided an administrative response for 1% of complaints. As 

of February 1, 2023, 0.6% of complaints were pending review by the company. Companies did 

not provide a timely response for 4% of complaints. 

The remainder of this analysis focuses only on those title loan complaints for which the 

company confirmed a commercial relationship with the consumer and responded with an 

explanation or relief. In 93% of these complaints, consumers reported that they attempted to 

resolve their issue with the company before submitting a complaint to the CFPB.

When submitting title loan complaints, consumers identify the issue that best describes the 

problem they experienced.61 The most common issue was charged interest or fees you didn’t 

expect (Figure 50).

61 For title loans, options include: cannot contact lender or servicer; cannot stop withdrawals from bank account; 

charged unexpected fees or interest; loan payment was not credited to account; money was taken from bank 

account on the wrong day or for the wrong amount; problem with a credit or consumer report; problem with the 

payoff process at the end of the loan; received a loan consumer did not apply for; struggling to pay loan; vehicle was 

damaged or destroyed the vehicle; vehicle was repossessed or sold the vehicle; and, was approved for a loan, but did 

not receive money.
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FIGURE 50: TITLE LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2022 Company responses

Similar to complaints about personal loans and payday loans, consumers complaining about 

title loans complained about being charged fees or interest they did not expect. Consumers 

sometimes stated that they felt the company’s practices were predatory or violated state laws. In 

their responses, companies generally explained how interest was calculated and payments 

applied and stated that the consumer was provided with the terms of the loan before signing the 

contract and given the chance to ask any questions.

Consumers also complained about problems receiving their vehicle title or having their vehicle 

lien released after their loan had been repaid. In their responses, companies generally 

apologized for the delays but attributed them to slow processing times at state departments of 

motor vehicles. Some companies agreed to provide a small amount of financial compensation 

for the delay as a courtesy. 
72 BUREAU OF CONSUMER FINANCIAL PROTECTION

5. Conclusion

When Congress created the CFPB, it designated “collecting, investigating, and responding to 

consumer complaints” as one of the CFPB’s primary functions. In 2022, the CFPB sent more 

than 819,800 complaints to approximately 3,200 companies for review and response. 

Complaints provide consumers the ability to bring their issues to the attention of companies. In 

turn, consumers—and the CFPB—expect complaint responses that are complete, accurate, and 

timely. How companies respond to the variety of issues consumers raise provides the CFPB with 

important information about areas of potential consumer harm.

The CFPB uses this information to monitor risk in financial markets, assess risk at companies, 

and prioritize agency action. The CFPB makes complaint data and analyses readily available to 

CFPB staff to support their supervisory, enforcement, and market monitoring activities. 

Additionally, the CFPB makes complaint data available to other federal and state agencies, as 

well as the public.

Companies can similarly use complaint information to gain important knowledge about their 

business, competitors, and industry more broadly. Consumer complaints can be an indicator of 

potential risk management weaknesses or other deficiencies, such as violations of laws or 

regulations. Complaints can reveal a weakness in a particular product, service, function, 

department, or vendor. Complaints can also identify opportunities to enhance consumers’ 

experience and understanding of consumer financial products and services.

The CFPB will continue monitoring complaints, and how companies respond, to meet its

statutory obligations and to ensure that consumers remain at the center of its policymaking 

efforts.
73 CONSUMER FINANCIAL PROTECTION CFPB

Appendix

TABLE 1: TOTAL COMPLAINTS BY CONSUMER’S LOCATION AND PRODUCT IN 2022

Consumer’s 

Location

Checking or savingsCredit cardCredit or consumer reportingCredit repairDebt collectionMoney transfer or service, virtual currencyMortgagePayday loanPersonal loanPrepaid cardStudent loanTitle loanVehicle loan or leaseGrand Total

Alabama 548 602 27,730 28 1,836 199 300 25 134 83 103 12 202 31,806

Alaska 48 60 502 1 108 31 59 1 8 9 19 2 10 860

American Samoa 1 5 1 2 1 10

Arizona 1,101 1,076 17,391 37 2,396 444 572 29 155 150 189 42 327 23,918

Arkansas 306 283 6,088 20 749 98 150 14 54 51 65 3 116 8,002

California 7,097 6,679 91,263 506 10,946 3,028 3,830 176 756 1,325 1,063 92 1,303 128,105

Colorado 815 785 5,271 23 1,312 393 638 23 104 101 178 9 161 9,819

Connecticut 712 616 5,499 15 799 194 430 10 78 57 129 7 106 8,655

Delaware 241 338 5,749 93 602 91 133 8 50 22 40 4 99 7,475

District of Columbia 320 225 3,204 9 403 109 141 8 22 27 79 4 59 4,614

Fed. Micronesia 1 1

Florida 4,232 4,692 129,549 198 13,879 1,783 3,167 118 660 359 607 68 1,491 160,842

Georgia 2,208 2,284 80,356 155 9,251 818 1,449 84 451 253 415 46 990 98,779

Guam 5 4 15 8 3 4 2 41

Hawaii 108 173 1,246 4 196 70 84 7 14 10 32 1 19 1,965

Idaho 130 157 776 2 252 71 80 5 24 15 29 1 37 1,581
74 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumer’s 

Location

Checking or savingsCredit cardCredit or consumer reportingCredit repairDebt collectionMoney transfer or service, virtual currencyMortgagePayday loanPersonal loanPrepaid cardStudent loanTitle loanVehicle loan or leaseGrand Total

Illinois 1,983 2,035 41,641 69 5,140 766 1,076 76 278 191 421 25 598 54,334

Indiana 537 567 9,460 24 1,759 216 318 45 132 93 149 12 192 13,515

Iowa 220 239 1,694 8 481 104 98 15 22 45 77 3 57 3,065

Kansas 249 250 2,149 8 585 120 129 17 29 50 69 5 59 3,725

Kentucky 291 306 3,570 20 914 154 199 20 57 57 83 9 122 5,805

Louisiana 460 453 22,417 29 1,990 202 448 40 110 70 106 15 199 26,545

Maine 97 142 583 197 33 90 3 12 18 50 2 23 1,250

Maryland 1,297 1,359 24,781 38 2,553 521 1,090 48 242 106 324 15 384 32,770

Massachusetts 942 1,053 8,084 19 1,569 424 549 21 83 103 282 10 212 13,359

Michigan 1,169 1,331 21,426 107 2,943 416 708 56 248 211 334 36 384 29,379

Minnesota 604 623 4,639 29 1,024 252 320 18 82 75 170 7 91 7,936

Mississippi 292 291 11,953 20 1,086 100 189 21 92 45 78 7 111 14,289

Missouri 567 592 12,220 18 1,690 223 368 41 120 96 156 14 227 16,339

Montana 82 107 660 7 172 60 54 4 9 31 31 2 25 1,244

Nebraska 131 151 1,073 5 245 53 73 8 26 22 45 4 24 1,863

Nevada 704 645 14,095 50 1,574 283 334 40 89 100 88 6 162 18,175

New Hampshire 131 175 521 3 216 73 123 3 11 9 57 1 29 1,353

New Jersey 1,652 2,028 30,008 70 3,308 663 1,242 46 203 172 385 24 474 40,286

New Mexico 211 187 1,663 10 414 87 124 12 26 33 39 12 26 2,845

New York 4,089 4,634 55,351 167 5,023 1,583 1,603 43 350 322 767 34 723 74,713

North Carolina 1,359 1,452 34,327 78 3,524 574 920 41 238 175 254 18 432 43,403
75 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumer’s 

Location

Checking or savingsCredit cardCredit or consumer reportingCredit repairDebt collectionMoney transfer or service, virtual currencyMortgagePayday loanPersonal loanPrepaid cardStudent loanTitle loanVehicle loan or leaseGrand Total

North Dakota 48 48 473 1 119 18 22 9 3 9 9 759

Northern Mariana 

Islands 3 13 1 1 18

Ohio 1,404 1,592 20,353 67 3,270 509 754 66 258 197 380 22 452 29,336

Oklahoma 294 358 4,206 9 908 121 225 21 62 73 63 6 92 6,443

Oregon 553 516 2,094 17 793 244 263 20 57 112 143 1 59 4,873

Pennsylvania 2,113 2,174 62,307 108 5,010 693 1,049 57 250 206 548 37 520 75,086

Puerto Rico 111 118 2,563 6 139 40 116 19 7 24 1 36 3,181

Rhode Island 111 191 1,375 3 269 62 123 4 23 17 33 4 47 2,263

South Carolina 658 691 18,987 47 2,804 243 430 37 149 89 170 21 229 24,560

South Dakota 62 57 279 1 134 35 34 4 10 9 12 1 10 649

Tennessee 735 751 21,122 55 2,375 323 497 52 167 94 178 21 317 26,699

Texas 3,902 3,645 128,755 235 13,881 1,638 2,160 256 663 420 725 51 1,210 157,583

U.S. - Armed 

Forces Americas 3 8 1 1 1 2 1 17

U.S. - Armed 

Forces Europe 15 20 228 31 10 6 1 6 11 5 333

U.S. - Armed 

Forces Middle East 1 2 1 4

U.S. - Armed 

Forces Pacific 7 26 97 9 8 3 3 4 157

US Virgin Islands 7 6 332 1 9 4 7 6 1 374

United States Minor 

Outlying Islands 8 13 41 3 23 16 2 1 1 1 2 111

Unspecified 388 227 1,502 27 318 1,958 47 78 83 37 18 9 22 4,715

Utah 258 373 2,557 10 686 152 220 9 56 29 70 6 74 4,504
76 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumer’s 

Location

Checking or savingsCredit cardCredit or consumer reportingCredit repairDebt collectionMoney transfer or service, virtual currencyMortgagePayday loanPersonal loanPrepaid cardStudent loanTitle loanVehicle loan or leaseGrand Total

Vermont 58 71 145 2 54 24 66 2 3 5 29 3 22 484

Virginia 1,384 1,549 21,134 56 3,176 598 986 39 209 161 370 16 379 30,079

Washington 985 985 5,500 33 1,342 448 573 23 103 110 232 11 133 10,486

West Virginia 158 100 919 15 224 46 92 6 12 21 50 1 38 1,682

Wisconsin 403 601 6,699 25 1,031 217 328 30 76 69 149 6 107 9,743

Wyoming 60 45 246 2 99 35 20 3 3 9 5 13 542

Grand Total62 48,663 50,755 978,894 2,593 115,852 21,687 29,117 1,835 7,201 6,161 10,136 769 13,248 1,287,347

62 Total column includes approximately 100 complaints where no specific consumer financial product was selected by consumers.