CONSUMER FINANCIAL PROTECTION BUREAU | MARCH 2022

Consumer Response 

Annual Report

January 1 – December 31, 2021
Table of Contents

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

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

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

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

3. Complaint responses..............................................................................................15

4. Complaint types.......................................................................................................18

4.1 Credit or consumer reporting.................................................................. 18

4.2 Debt collection ..........................................................................................21

4.3 Credit card................................................................................................ 27

4.4 Checking or savings account...................................................................30

4.5 Mortgage ..................................................................................................36

4.6 Money transfer, money services, and virtual currencies........................42

4.7 Vehicle loan or lease ................................................................................47

4.8 Prepaid card............................................................................................. 53

4.9 Student loan.............................................................................................56

4.10 Personal loan............................................................................................60

4.11 Payday loan..............................................................................................63

4.12 Credit repair.............................................................................................65

4.13 Title loan ..................................................................................................67

5. Conclusion................................................................................................................69
3 BUREAU OF CONSUMER FINANCIAL PROTECTION

Executive Summary

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

annual report analyzes complaints submitted by consumers between January and December 

2021. During this period, the Consumer Financial Protection Bureau (CFPB) sent more than 

750,000 complaints to approximately 3,400 companies for review and response. Complaints 

about credit or consumer reporting continued to increase in 2021 and accounted for more 

than 70% of all consumer complaints. Debt collection also increased in 2021 and accounted 

for more than 10% of all consumer complaints.

▪ Complaints afford consumers the ability to raise their issues to the attention of companies. 

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.

▪ The CFPB is concerned by market participants that give consumers the runaround or that do 

not meaningfully respond to consumers when problems arise.When new products and 

services emerge, there can be great benefits to consumers. But often these advances come 

with new problems. In their complaints to the CFPB, consumers have described how difficult 

it can be not having their problem addressed. For example:

□ Consumers described problems with digital assets, such as mobile 

wallets. In these complaints, consumers often reported fraudulent activity on their 

accounts. When they raised this issue with companies, consumers described no

response to support tickets—and no way of contacting the company by phone. When 

they received a response to their complaints, consumers were told fraudulent 

transferswere not reversible by the company, and they could contact law 

enforcementto seek recourse.

□ Consumers described issues with companies offering Buy-Now-PayLater (BNPL) credit.In these complaints, consumers describe issues with 

merchandise, merchandise refunds, modifying payments, and difficulty reaching 
4 BUREAU OF CONSUMER FINANCIAL PROTECTION

customer service. Some consumers reported concerns about the furnishing of these 

loans to consumer reporting companies.

▪ Complaints can help policymakers, businesses, community groups, and others identify 

opportunities to enhance consumers’ experience and understanding of consumer financial 

products and services.

▪ During the second year of the COVID-19 pandemic, CFPB complaint data continuedto 

reveal product areas where consumers may be experiencing greater—or lesser—difficulties. 

For example:

□ Mortgage complaint volume about struggling to pay is increasing.

Complaints about struggling to pay a mortgage peaked near the beginning of the 

pandemic—in early 2020—but then quickly decreased and remained at relatively 

lower levels for several months. With many borrower protections having expired, 

complaint volume for this mortgage issue is again increasing.

□ Vehicle loan complaint volume is also increasing. Borrowers expressed 

concern about their ability to repay their loans or having their vehicle repossessed. 

Consumers often cited job loss or lack of income due to COVID-19 as a cause of their 

difficulty in staying current on their vehicle loan. Some borrowers expressed 

difficulty in obtaining information about payment assistance and extension requests 

prior to repossession.

□ Student loan complaint volume remains lower than pre-pandemic levels.

Congress and the U.S. Department of Education implemented temporary relief on 

government-held federal student loans, including pauses on federal student loan 

repayment, interest accrual, and collections. Complaint data provides some support 

that these measures have been effective, as complaint volumes in 2020 and 2021 

remain lower than in years prior to the COVID-19 pandemic.

▪ The CFPB has and will continue to monitor complaints to support its decision-making 

processes, including assessing risk in the market. 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.
5 BUREAU OF CONSUMER FINANCIAL PROTECTION

1. Introduction

One of the primary functions of the Consumer Financial Protection Bureau (CFPB or Bureau) is 

collecting, investigating, and responding to consumer complaints. 1The Office of Consumer 

Response (Consumer Response), created by the Bureau 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 2021, the CFPB received 

approximately 994,000 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 2.5% 

1

 See Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Pub. L. No. 111 -203 (Dodd-Frank Act), 

Section 1021(c)(2).

2

 Id. § 1002(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

 Dodd-Frank Act § 1034(a).

5

 Complaint data in this report are current as of February 1, 2022. This report excludes some complaints that the 

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

whistleblower tips, and complaints that the Bureau found were submitted without the consumer’s authorization. 

Complaint numbers are rounded throughout the report; therefore, numbers and percentages may not sum to sub -

totals or 100%.

6

 See Dodd-Frank Act § 1013(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 2021, the CFPB received an average of more than 16,100 telephone calls per 

month.
6 BUREAU OF CONSUMER FINANCIAL PROTECTION

by calling the CFPB’s toll-free telephone number.7 The remaining 2.5% were submitted via 

postal mail, fax, or referral.8

When consumers submit complaints online or over the phone, 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.

9

Consumers describe what happened and their desired resolution using free-formtext 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.

10

Consumers also have the option to provide limited demographic information, such as their age,

servicemember status, household size, and combined annual household income.

11

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 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 CFPBroutes consumers’ complaints about consumer 

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

timely responses, generally within 15 days.

12 Secure, web-based Company and Consumer Portals 

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

7

 See Consumer Fin. Prot. Bureau, Submit a complaint, https://www.consumerfinance.gov/complaint/. 

8

 The CFPB discontinued accepting complaints by fax in May 2021 due, in part, to declining use of this submission 

channel by consumers.

9

 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 small minor 

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

10 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.”).

In May 2021, the CFPB made enhancements to the complaint form. These changes emphasized that a person 

submitting on behalf of someone else must identify themselves in the complaint submission and required users 

submitting on behalf of themselves to provide an email address.

11 The option for consumers to provide household size and combined annual household income became available in 

May 2021.

12 See discussion infra Section 3.
7 BUREAU OF CONSUMER FINANCIAL PROTECTION

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

web-based Government Portal.13

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.

14This 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.

15

How the CFPB uses complaint information

The CFPB has a statutory obligation to monitor consumer complaints.

16Consumers’ complaints 

and companies’ responses provide the CFPB with importantinformation 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: 

13 Dodd-Frank Act § 1013(b)(3)(A) (“The Director shall coordinate with the Federal Trade Commission or other 

Federal agencies to route complaints to such agencies, where appropriate.”).

14 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.

15 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.

16 Dodd-Frank Act § 1021 (b)(3)(A).
8 BUREAU OF CONSUMER FINANCIAL PROTECTION

▪ 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.

▪ 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.

▪ 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 Bureau’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 Bureau also shares consumer 

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

other federal agencies and state agencies.17

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

January 1 through December 31, 2021, including information and analysis about complaint 

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

complaints.18

17 Dodd-Frank Act § 1013(b)(3)(D).

18 This report fulfills the reporting requirements of Dodd-Frank Act Section 1013(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.
9 BUREAU OF CONSUMER FINANCIAL PROTECTION

2. Complaint numbers

Of the approximately 994,000 complaints the CFPBreceived in 2021, it sent 752,800 (or 76%)

to companies for review and response, referred 6% to other regulatory agencies, and found 17% 

to be not actionable (Figure 2A, Routing Outcomes).

19As of February 1, 2022, 0.1% of 

complaints were pending with the consumer and 0.3% were pending with the CFPB.

FIGURE 2: COMPLAINT OUTCOMES IN 2021

19 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.
10 BUREAU OF CONSUMER FINANCIAL PROTECTION

In 2021, approximately 3,400 companies responded to complaints sent to them for review and 

response. Companies confirmed a commercial relationship with the named consumer and 

closed the complaint with explanation or relief to approximately 483,000 complaints (Figure

2B, Company Responses). 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 254,300 complaints.20

The remainder of this sectionanalyzes complaints received in 2021 by:

▪ Product and service.

▪ Geographic region.

▪ Special population (servicemembers and older consumers).

21

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

complaints.

21

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

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

older.
11 BUREAU OF CONSUMER FINANCIAL PROTECTION

Products and Services

The most-complained-about consumer financial product and service categories in 2021 were 

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

mortgage (Figure 3).

22Collectively, these products comprised approximately 94% of all 

complaints the Bureau received in 2021.

FIGURE 3: COMPLAINT VOLUME BY FINANCIAL PRODUCT OR SERVICE

22 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 fin ancial 

product or service.
12 BUREAU OF CONSUMER FINANCIAL PROTECTION

Geographic Region

Consumers from all 50 states and the District of Columbia submitted complaints to the CFPB. 

To understand state and regional trends, the CFPBanalyzes the geographic distribution of 

complaints after accounting for population differences.23On a per capita basis, the CFPB

received more complaints from consumers from Louisiana than anywhere else in the United 

States, followed by consumers in Georgia, Alabama, D.C., Florida, and Tennessee. Consumers in 

South Dakota submitted the fewest complaints of any state per capita (Figure 4).

FIGURE 4: U.S. COMPLAINT SUBMISSIONS PER 100K POPULATION24

23 See, e.g., Consumer Fin. Prot. Bureau, Complaint Bulletin: County-level demographic overview of consumer 

complaints (Apr. 2021), https://files.consumerfinance.gov/f/documents/cfpb_complaint-bulletin_county-leveldemographic-overview-consumer-complaints_2021-04.pdf.

24 Population data is from 2019 U.S. Census data as of July 1, 2019, 

https://www2.census.gov/programssurveys/pope st/tables/2010-2019/state/totals/nst-est2019-01.xlsx.
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 42,800 complaints, or 4% of all complaints submitted in 2021. Self-identified 

servicemembers submitted complaints about debt collection, mortgages, credit cards, checking 

or savings, money transfer or service, and virtual currency, and vehicle loans or leases at greater

rates than non-servicemembers (Figure 5).

FIGURE 5: COMPLAINTS SUBMITTED BY SERVICEMEMBERS AND NON-SERVICEMEMBERS25

25 Non-servicemember complaints are defined as complaints where the consumer did not indicate they are a 

servicemember.
14 BUREAU OF CONSUMER FINANCIAL PROTECTION

Older Consumers

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

their age in approximately 158,200 complaints, or 16% of all complaints submitted in 2021. Selfidentified older consumers (age 62 or older) submitted complaints about mortgages, credit 

cards, and checking or savings accounts 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 GROUP26

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

provided their age when submitting a complaint.
15 BUREAU OF CONSUMER FINANCIAL PROTECTION

3. Complaint responses

The CFPB sent complaints to more than 3,400 companies for review and response in 2021. 

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.27

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 addressedall the issues raised by the consumer, including 

providing any relevant documentation. Where appropriate, the company described

communications with the consumer, attachedcopies of all relevant documents, and 

describedany 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, describedthe non-monetary or monetary 

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

relief,

28Closed with non-monetary relief,29Closed with explanation, and administrative 

response options.

27 See discussion supra Section 2.

28 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.

29 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).
16 BUREAU OF CONSUMER FINANCIAL PROTECTION

▪ Timeliness:the company provideda response within 15 calendar days of the complaint 

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

company providedan 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 

assesseshow companies respond to complaints relative to the Bureau’s response expectations. 

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

timely responses.Initial observations from these analyses are included below. Consumer 

Response will publish a separate report to share additionalfindings.

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 documentsdirectly to their customers, the Company 

Portal enables companies to provide the CFPB with copies.

Consumer Response’s analyses suggest that companies generally selecteda closure category that 

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

commonly selected the Closed with explanationcategory, despite their written complaint 

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

summarizes how companies responded in 2021.
17 BUREAU OF CONSUMER FINANCIAL PROTECTION

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% 5% 57% 34% 1% 1%

Credit or consumer 

reporting

<1% 4% 49% 45%30 1% <1%

Debt collection <1% 10% 82% 4% 1% 3%

Checking or 

savings

15% 5% 75% 2% 2% 1%

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

Mortgage 4% 3% 88% 1% 1% 2%

Money transfer or 

service, virtual 

currency

11% 6% 79% 1% 1% 2%

Vehicle loan or 

lease

3% 5% 88% 1% 1% 2%

Prepaid card 18% 10% 64% 2% 1% 4%

Student loan 2% 13% 81% 1% 1% 2%

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

Payday loan 1% 2% 83% 6% 1% 6%

Credit repair 7% 5% 76% 7% 1% 4%

Title loan 2% 10% 79% 2% 2% 4%

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

Companies provided a timely response to 99% of the approximately 752,800 complaints sent to 

them for review in 2021. Most complaints were closed within the initial response period of 15 

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.

30 See Consumer Fin. Prot. Bureau, Annual report of credit and consumer reporting complaints (Jan. 2022), 

https://files.consumerfinance.gov/f/documents/cfpb_fcra-611-e_report_2022-01.pdf (discussing the use of 

administrative responses by the nationwide consumer reporting agencies).
18 BUREAU OF CONSUMER FINANCIAL PROTECTION

4. Complaint types

This section summarizes the types of complaints received by the CFPB in 2021 and issues 

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

narrative text provided by consumers and companies.31Analyzing 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 and issues identified 

in complaints, this sectionalso briefly discusses topics consumers commonly raised in their 

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

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

servicemembers.32

4.1 Credit or consumer reporting

The CFPB received approximately 710,300 credit or consumer reporting complaints in 2021. 

The CFPB sent approximately 558,400 (or 79%) of these complaints to companies for review 

and response, referred 1% to other regulatory agencies, and found 20% to be not actionable. As 

of February 1, 2022, 0.05% of credit or consumer reporting complaints were pending with the 

consumer and 0.3% were pending with the CFPB.

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

review and response. Companies closed 49% of complaints with an explanation, 4% with nonmonetary relief, and 0.1% with monetary relief. Companies provided an administrative response 

for 45% of complaints. As of February 1, 2022, 1.3% of complaints were pending review by the 

company. Companies did not provide a timely response for 0.3% of complaints.

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

32 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.
19 BUREAU OF CONSUMER FINANCIAL PROTECTION

In 2021, the CFPB received more than 619,000 credit or consumer reporting complaints about 

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

TransUnion. In January 2022, pursuant to Section 611(e)(5) of the Fair Credit Reporting Act 

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

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

2020 to September 2021.33This report, among other things, discussed factors underlying 

significant complaint volume increases, problems commonly reported by consumers in their 

complaints, and how the NCRAs responded to complaints. Complaint responses suggest that at 

least one NCRA may be making changes to how it closes complaints. The CFPB will continue to 

monitor the NCRAs’ responses to complaints and will issue a separate report detailing its 

analysis later this 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 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 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 2021, consumers complained about credit reporting most 

frequently (Figure 7).

FIGURE 7: CREDIT OR CONSUMER REPORTING COMPLAINTS BY TYPE OF REPORT AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 34The most 

common issue was incorrect information on your report(Figure 8).

33 See Consumer Fin. Prot. Bureau, supra note 30.

34 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.
20 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 8: CREDIT OR CONSUMER REPORTING COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

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.

35

Issues consumers raised in their complaints about the NCRAs are similar to those issues 

reported in complaints about other consumer reporting agencies.

36For example, consumers 

described errors on their reports, such as inaccurate addresses, telephone numbers, 

employment information, and other public records information. Consumers also stated that 

items on their consumer reports did not belong to them and, instead, resulted from identity 

theft. In response, companies typically provided the results of investigations initiated in 

response to complaints and stated whether they updated the account or verified the disputed 

information.37

In complaints about other consumer reporting agencies, consumers reported that inquiries on 

their reports did not belong to them or were unauthorized. Consumers also frequently stated 

they submitted disputes to remove inquiries and companies did not respond timely. Companies 

typically responded that they initiated investigations and found either that they could not verify 

the consumer’s identity and would send the results directly to the consumer, that they verified 

the inquiry and would not remove it, or that they would remove the disputed inquiry.

35 The CFPB publishes an annual list of consumer reporting companies. This list includes the three nationwi de 

consumer 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. 2022), 

https://files.consumerfinance.gov/f/documents/cfpb_consumer-reporting-companies-list_2022-01.pdf.

36 See Consumer Fin. Prot. Bureau, supra note 30 at Section 3.2.

37 But see id. (“The NCRAs’ actions leave many consumers without a response to the issues they raised in their 

complaints.”).
21 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also reported difficulty placing or lifting security freezes.38Companies typically 

responded that consumers had not contacted them to ask for a security freeze before sending 

their complaints to the CFPB. Some companies said they needed more information from

consumers, that they could not authenticate consumers, or as a specialty consumer reporting 

agency that they were not required to place security freezes.

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

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

generally confirmed the validity of the information. However, in some instances, the company 

acknowledgedthe error and stated the information would be removed. Some companies asked 

the consumer to provide more information in order to investigate or informed the consumer 

that the account had since been sold to another creditor.

In their credit or consumer reporting complaints, consumers often described the negative 

consequences of having incorrect or inaccurate information on their reports. For example, 

consumersdescribed feeling stressed, spending time and money attempting to resolve their 

issues, and living with incorrect information on their reports or paying a bill they said they did 

not owe to have negative information removed.39 In complaints about tenant screening 

companies, some consumers reported that inaccurate informationwould have detrimental 

effects on their ability to secure future housing.40 In complaints about employment screening 

companies, consumers stated that inaccurate information on a background check prevented 

them from being hired or jeopardized their employment.

4.2 Debt collection

The CFPB received approximately 121,700 debt collection complaints in 2021. The CFPB sent 

approximately 73,600 (or 60%) of these complaints to companies for review and response, 

referred 24% to other regulatory agencies, and found 15% to be not actionable.As of February 1, 

38 See also Consumer Fin. Prot. Bureau, Supervisory Highlights: Issue 24, Summer 2021 (June 2021), 

https://files.consumerfinance.gov/f/documents/cfpb_supervisory-highlights_issue-24_2021-06.pdf (“In reviews 

of nationwide CRCs, examiners found that CRCs failed to place security freezes within three business days after 

receiving the request by mail.”).

39 See Consumer Fin. Prot. Bureau, supra note 30 at Section 3.2.

40 See Consumer Fin. Prot. Bureau, Complaint Bulletin: COVID-19 issues described in consumer complaints (July 

2021), https://files.consumerfinance.gov/f/documents/cfpb_covid-19-issues-described-consumercomplaints_complaint-bulletin_2021-07.pdf (discussing consumer reporting concerns expressed by consumers in 

complaints to the CFPB).
22 BUREAU OF CONSUMER FINANCIAL PROTECTION

2022, 0.4% of debt collection complaints were pending with the consumer and 0.2% 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).41When 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 82% of complaints with an explanation, 10% with non-monetary 

relief, and 0.5% with monetary relief. Companies provided an administrative response for 4% of 

complaints. As of February 1, 2022, 0.7% 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 86% of these complaints, consumers reported that they attempted to 

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

When submitting debt collection complaints, consumers specify the type of debt.42 In 2021, 

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

most complained about types of debt (Figure 9).

41 As of 2020, the third-party debt collection market was a $18.6 billion industry that employs about 138,000 people 

across more than 7,000 collection agencies in the United States. See Gabriel Schulman, IBIS World, Debt Collection 

Agencies in the US (Aug. 2021).

42 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.
23 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 9: DEBT COLLECTION COMPLAINTS BY TYPE OF DEBT AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

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

43The most 

common issue was attempts to collect debt not owed (Figure 10).

FIGURE 10: DEBT COLLECTION COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Debt collection complaint volume increased in 2021. On average, companies responded to more 

than 5,600 debt collection complaints per month (compared to a monthly average 4,300 

43 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.
24 BUREAU OF CONSUMER FINANCIAL PROTECTION

complaints in 2020 and 3,700 complaints in 2019). Among the types of debt consumers 

identified in their complaint, the monthly average for credit card debt—the most common debt 

identified by consumers in their complaints—increased 58% compared to the monthly average 

for the prior two years (Figure 11). Complaints about collectors’ attempts to collect medical debt 

also increased.

FIGURE 11: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF DEBT COLLECTION COMPLAINTS THAT 

MAKE UP 80% OF OVERALL PRODUCT VOLUME

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 2021, the monthly average for 

this issue increased 52% compared to the monthly average for the prior two years (Figure 12).
25 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 12: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF DEBT COLLECTION COMPLAINTS THAT 

MAKE UP 80% OF OVERALL PRODUCT VOLUME

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, many debt 

collectors stated that the debt was valid or requested additional information from the consumer 

to further investigate the claim. In some instances, the company confirmed the debt was invalid, 

and agreed to cease collection attempts and delete the debt from the consumer’s credit report. 

Some debt collectors stated that the validity of the debt was being investigated and the 

consumer would receive a decision under separate cover, raising concerns about these 

companies’ ability to respond timely to consumers.44 In complaints about identity theft, 

companies would sometimes additionally provide the consumers with more information about 

submitting an identity theft claim or responding to identity theft.

Consumers often submitted complaints requesting additional information when they did not

recognize accounts being collected on their credit report. Companies typically provided written 

debt validations and asserted debts were valid and amounts remained due. In some instances, 

companies replied that they were unable to verify that the consumer submitting the complaint 

44 See Complaint responses supra Section 3.
26 BUREAU OF CONSUMER FINANCIAL PROTECTION

was the account holder—or were unable to confidently locate the account in question—and 

requested further information from the consumer to help verify the account. Some third-party 

debt collectors stated that they had requested more information from the original creditor in 

order to verify the debt. Some third-party debt collectors stated that they were returning the 

debt to the original creditor as a result of the complaint. Companies also sometimes indicated 

that they would mark the account as disputed in the consumer’s credit report or delete the 

tradeline and cease collection attempts as a courtesy.

Consumer submitted complaints about communication tactics used by collectors.45 For example, 

consumers complained about being harassed by repeated phone calls, and calls during 

inconvenient times or places.

46 Some consumers stated they received collection calls outside 

permitted hours. Companies typically denied wrongdoing. In their complaints, consumers often 

requestedthat debt collectors stop contacting them. Companies typically responded that they 

would honor the consumer’s cease and desist request by removing phone numbers from their 

dialing systems but noted that it could take several days for the request to be processed.

Consumers often expressedconcern 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 response to these complaints, companies oftenresponded 

that they had previously sent the consumer the initial validation notice as required by law. Some 

consumers stated that they attempted to dispute the debt but were unsuccessful. Rather than

having this information reported on their credit report, consumers stated that they paid a debt 

they did not believe they owed.47

45 Complaints about communications have been a common issue raised by consumers since the CFPB began 

accepting debt collection complaints in 2013. On November 30, 2021, the CFPB’s new debt collection rule became 

effective. This rule, issued in October 2020, focused on debt collection communications and clarified the Fair Debt 

Collection Practice Act’s prohibitions on harassment and abuse, false or misleading representations, and unfair 

practices by debt collectors when collecting consumer debt. See e.g., Consumer Fin. Prot. Bureau, Executive 

Summary of the October 2020 Debt Collection Final Rule, 

https://files.consumerfinance.gov/f/documents/cfpb_october_2020_debt_collection_executive_summary.pdf.

46 See also Consumer Fin. Prot. Bureau, supra note 38 at pp. 10-11 (“Examiners determined that debt collectors 

communicated with consumers at their workplaces after they knew or should have known that the consumers’ 

employers prohibit such communications ...”).

47 See, e.g., Consumer Fin. Prot. Bureau, supra note 30 at pp. 37-38. See also Consumer Fin. Prot. Bureau, 

Supervisory Highlights: Issue 25, Fall 2021 (Dec. 2021) at p. 5, 

https://files.consumerfinance.gov/f/documents/cfpb_supervisory-highlights_issue-25_2021-12.pdf (“Examiners 

found that debt collectors ... represented that improvements to the consumers’ creditworthiness would occur upon 

final payment under the plan and deletion of the tradeline.”).
27 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.3 Credit card

The CFPB received approximately 37,800 credit card complaints in 2021.The CFPB sent 

approximately 28,100 (or 74%) 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, 

2022, 0.2% of credit card complaints were pending with the consumer and 0.2% were pending 

with the CFPB.

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

Companies closed 70% of complaints with an explanation, 16% with monetary relief, and 10% 

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

As of February 1, 2022, 1% of complaints were pending review by the company. Companies did 

not provide a timely response for 1.4% 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 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 credit card complaints, consumers specify whether they are complaining 

about a general-purpose credit card (or charge card) or a store credit card. In 2021, consumers 

complained about general-purpose credit cards more frequently than store credit cards (Figure

13).

FIGURE 13: CREDIT CARD COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

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

common issue was problem with a purchase shown on your statement (Figure 14).

48 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.
28 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 14: CREDIT CARD COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Credit card complaint volume did not change significantly in 2021. Companies responded, on 

average, to more than 2,200 credit card complaints per month (compared to a monthly average 

2,400 complaints in 2020 and 2,000 complaints in 2019). Complaints about general purpose 

credit cards had the greatest change in volume, increasing 6% from the prior two years’ monthly 

average (Figure 15).

FIGURE 15: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF CREDIT CARD COMPLAINTS THAT MAKE UP 

80% OF OVERALL PRODUCT VOLUME
29 BUREAU OF CONSUMER FINANCIAL PROTECTION

A problem with a purchase shown on a consumer’s statement continues to be the most common 

issue identified by consumers in their credit card complaints (Figure 16). In these complaints, 

cardholders often detailed disputed transactions appearing on their accounts—some of which 

consumers claimed 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. In 

other cases, the company assertedthat the charge was appearing correctly on the account 

statement and declined to refund the disputed amount.

FIGURE 16: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF CREDIT CARD COMPLAINTS THAT MAKE UP 

80% OF OVERALL PRODUCT VOLUME

Cardholders sometimes expressed dissatisfaction with the transaction dispute process or were 

confused about provisional credits applied to their accounts while companies investigated 

claims. Credit card companies typically responded that they reached out to the merchant and 

reviewed documentation supporting merchant claims, or that merchants already provided 

consumers with credits.
30 BUREAU OF CONSUMER FINANCIAL PROTECTION

Complaints about getting a credit card increased in 2021 (Figure 16). Some of this increase may 

be explained by the increase in credit card applications to pre-pandemic levels.

49 In their

complaints, consumers often stated that someone else had fraudulently applied for a credit card 

in their name. Consumers stated that they became aware of this problem when they received the 

card or noticed the account on a credit report. In their responses, card issuers typically

explainedwhy they did not conclude that the account was fraudulently opened. In some 

instances, card issuers would confirm 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.

Cardholders also often mentioned difficulties making credit card payments. For example, 

cardholders sometimes complained that credit card companies did not apply payments timely or 

correctly. Some cardholders stated that auto-payments were not processed or applied to their 

accounts, resulting in late fees or negative credit reporting. Other cardholders reported difficulty 

accessing their online accounts to make payments. Some cardholders reported that payments 

above the minimum required amount were not allocated as intended. Companies typically 

refuted consumer claims that payments were not timely processed. 

In some complaints, cardholders expressed frustration about problems communicating with 

customer service representatives when trying to resolve issues. Credit card companies typically 

apologized for consumers’ experiences or unsatisfactory customer service.

4.4 Checking or savings account

The CFPB received approximately 37,400 checking or savings account complaints in 2021. The 

CFPB sent approximately 30,200 (or 81%) of these complaints to companies for review and 

response, referred 13% to other regulatory agencies, and found 6% 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 

49 See Consumer Fin. Prot. Bureau, The Recovery of Credit Applications to Pre-Pandemic Levels (July 2021) at 1, 

https://files.consumerfinance.gov/f/documents/cfpb_recovery-of-credit-applications-pre-pandemiclevels_report_2021-07.pdf (“The pandemic brought about a substantial drop in credit applications compared to the 

usual pre-pandemic year, especially in the very beginning ... [C]redit card applications stayed depressed much 

longer after their initial decline. They were still 30 percent below pre-pandemic levels in September 2020 and the 

pre-holiday boost in applications was more modest than in a usual year. Nevertheless, by the spring of 2021, credit 

card applications were also back to pre-pandemic levels.).
31 BUREAU OF CONSUMER FINANCIAL PROTECTION

assets. As of February 1, 2022, 0.2% of checking or savings account complaints were pending 

with the consumer and 0.05% were pending with the CFPB.

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

and response. Companies closed 75% of complaints with an explanation, 15% with monetary 

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

of complaints. As of February 1, 2022, 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 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 checking or savings account complaints, consumers specify the type of 

product.50 In 2021, checking account was the most complained about product type (Figure 17).

FIGURE 17: CHECKING OR SAVINGS ACCOUNT COMPLAINTS BY TYPE OF PRODUCT OR SERVICE AND 

OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 51The most 

common issue was managing an account (Figure 18).

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

deposit (CD), and other banking product or service.

51 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.
32 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 18: CHECKING OR SAVINGS ACCOUNT COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Checking or savings account complaint volume increased in 2021. Complaints about checking 

accounts had the greatest increase in volume, increasing 34% from the prior two years’ monthly 

average (Figure 19).

FIGURE 19: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF CHECKING OR SAVINGS ACCOUNT 

COMPLAINTS THAT MAKE UP 80% OF OVERALL PRODUCT VOLUME

Similar to 2020, the most common checking or savings accounts complaint was about managing 

the account. In 2021, this issue increased 24% compared to the prior two years average (Figure

20). 
33 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 20: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF CHECKING OR SAVINGS ACCOUNT 

COMPLAINTS THAT MAKE UP 80% OF OVERALL PRODUCT VOLUME

In complaints about managing an account, account holders reported issues with depositing and 

withdrawing funds and using ATM cards. Account holders described financial institutions 

placing holds on deposited funds without notice or extending the hold longer than what the 

consumer had been informed. Depositories generally responded that suspicious account activity 

triggered security concerns and that they restricted accounts to prevent potential fraud and 

losses to consumers and companies.

Additionally, account holders expressed concern when their deposit accounts were closed 

without them receiving notice or being given a reason for the closure. Some consumers believed 

closures were due to large deposits. Depositories generally responded by referencing Deposit 

Account Agreements, which typically allow the closure of accounts at any time and for any 

reason. 

Account holders sometimes expressed confusion about not receiving account opening bonuses 

after believing they met requirements described in promotions. Depositories generally 

responded with assertions that consumers were not eligible for account opening bonuses 

because deposits were not made within the required period or for required amounts, that 

promotions were not public offers but were targeted to others, or that promotion codes were not 

applied to the account at opening.
34 BUREAU OF CONSUMER FINANCIAL PROTECTION

Overdraft and non-sufficient funds (NSF) fees, which cost consumers billions of dollars 

annually, are an area of concern for the CFPB.52The CFPB has previously reported about 

problems account holders experience with these fees. For example, consumers described being 

charged overdraft fees on their checking accounts when funds advanced by their financial 

institutions—so consumers could have access to all of their Economic Impact Payments (EIP) 

funds—were later reversed.53Additionally, account holders expressed frustration at the 

assessment of overdraft fees on deposit accounts based on the posting order of transactions 

presented for payment. Banks generally responded by detailing transactions which led to 

accounts being overdrawn and fees being assessed. In addition, banks typically maintained that 

fees were valid, but sometimes provided partial refunds of fees, stating that they were refunding 

fees as a courtesy.

Account holders also complained about fraudulent activity and identity theft. Account holders 

frequently asserted fraudulent activity was related to identity theft, fund transfers, lost or stolen 

bank cards, and checks deposited to their accounts. Banks typically responded that they 

investigated claims of fraud and issued temporary credit, which they reversed if they determined 

that the activity was not fraudulent. Banks often cited the use of cards and valid PINs to deny 

claims.

Finally, 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.

Checking or savings account complaints made up a greater share of complaints for older 

consumers than for consumers under the age of 62 years old (see Section 2, Figure 6). Older 

consumers comprised approximately 22% of checking or savings complaints; however, similar 

to prior years, they made up a greater share of certain products—most notably, certificates of 

deposits (CDs) (Figure 21).

52 See, e.g., Consumer Fin. Prot. Bureau, Data Point: Overdraft/NSF Fee Reliance Since 2015 – Evidence from Bank 

Call Reports (Dec. 2021), https://files.consumerfinance.gov/f/documents/cfpb_overdraft-call_report_2021-12.pdf

(discussing how overdraft and NSF fees have cost consumers billions of dollars). See also Consumer Fin. Prot. 

Bureau, supra note 38 at pp. 20-21 (discussing a number of violations in connection with overdraft opt-in 

requirements).

53 See Consumer Fin. Prot. Bureau, supra note 40 at Section 3 (discussing consumer reporting concerns expressed by 

consumers in complaints to the CFPB).
35 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 21: PROPORTION OF OLDER CONSUMER COMPLAINTS FOR CHECKING OR SAVINGS ACCOUNT 

TYPES

Of the complaints submitted by older consumers, a greater share of complaints was about 

managing an account (Figure 22). In their complaints about CDs, older consumers raised a 

variety of issues, such as problems with fund disbursement or delays in processing requests. 

Some older consumers reported that their CD certificates were not honored or that the 

depository did not have a record of their account. Consumers stated their CDswere at the 

depository for decades but learned that there was no record of their accounts when they sought 

to withdraw funds. In response to these complaints, depositories summarized their 

recordkeeping retention requirements. Older consumers expressed frustration that there was no 

record of their account and they had little recourse to correct the situation.

FIGURE 22: PROPORTION OF OLDER CONSUMER COMPLAINTS FOR CHECKING OR SAVINGS ACCOUNT 

ISSUES
36 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.5 Mortgage

The CFPB received approximately 32,000 mortgage complaints in 2021. The CFPB sent 

approximately 26,900 (or 84%) of these complaints to companies for review and response, 

referred 10% to other regulatory agencies, and found 5% to be not actionable. As of February 1, 

2022, 0.2% 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 88% of complaints with an explanation, 3% with non-monetary relief, and 4% 

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

of February 1, 2022, 1% 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 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 mortgage complaints, consumers specify the type of mortgage.54 In 2021, 

conventional home mortgages were the most complained about mortgage type (Figure 23).

FIGURE 23: MORTGAGE COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

54 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.
37 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also identify the issue that best describes the problem they experienced. 55 The most 

common issue was trouble during the payment process (Figure 24).

FIGURE 24: MORTGAGE COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Mortgage complaint volume increased in 2021. Among the types of mortgages consumers 

identified in their complaints, the monthly average for conventional home mortgages increased 

13% compared to the monthly average for the prior two years (Figure 25). The monthly average 

for VA mortgage complaints increased 17% compared to the monthly average for the prior two 

years.

55 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.
38 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 25: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF MORTGAGE COMPLAINTS THAT MAKE UP 

80% OF OVERALL PRODUCT VOLUME

The most common issue in mortgage complaints was about trouble during the payment process. 

Complaint volume about this issue peaked in early 2021 before generally declining for the 

remainder of the year (Figure 26). Similarly, complaint volume for the mortgage issue applying 

for a mortgage or refinancing an existing mortgage peaked in early 2021 before declining for 

the remainder of the year. Part of this trend may be explained by the increase in origination 

activity and consumers attempting to take advantage of lower interest rates.

56

Conversely, complaint volume about struggling to pay a mortgage peaked near the beginning of 

the pandemic—in early 2020—but then quickly decreased and remained at relatively lower 

levels for several months. This decrease may be explained in part by relief provided by the 

Coronavirus Aid, Relief, and Economic Security (CARES) Act, which became effective in March 

2020 and provided relief for homeowners with federally backed mortgages.

57 With many 

56 See, e.g., Consumer Fin. Prot. Bureau, supra note 49 at 1 (“After an initial dip, applications for new mortgages were 

above their usual levels in pre-pandemic years and this has continued through May 2021.”).

57 15 U.S.C. § 9056(c).
39 BUREAU OF CONSUMER FINANCIAL PROTECTION

borrower protections having expired, complaint volume for this mortgage issue is again 

increasing to levels observed prior to the pandemic.58

FIGURE 26: MONTHLY COMPLAINT VOLUME FOR ISSUES(S) OF MORTGAGE COMPLAINTS THAT MAKE UP 

80% OF OVERALL PRODUCT VOLUME

In 2021, consumers increasingly raised concerns about forbearance. Mortgage borrowers with 

loans in forbearance stated they were confused by servicer communications about relief options

and delinquency notices, such as monthly mortgage statements indicating that their account was 

delinquent.

59 In response to these types of complaints, mortgage servicers typically listed 

available options and stated they would contact borrowers before the end of their forbearance 

period to discuss relief options. Consumers also reported delays with deferral or modification 

58 See Consumer Fin. Prot. Bureau, Consumer finances during the pandemic (Dec. 2021), 

https://files.consumerfinance.gov/f/documents/cfbp_making-ends-meet-survey-insights_report_2021-12.pdf

(“Most pandemic polices—including extended unemployment insurance, eviction moratoria, and mortgage and 

student loan flexibilities—have recently ended or will end soon. Our results suggest these programs helped protect 

consumers during the pandemic, so their expiration may lead to increased consumer distress unless the economic 

recovery is strong and equitable enough to make up for the loss of p rotections.”).

59 See Consumer Fin. Prot. Bureau, Complaint Bulletin: Mortgage forbearance issues described in consumer 

complaints (May 2021) at Sections 3.1-3.2, https://files.consumerfinance.gov/f/documents/cfpb_mortgage -

forbearance-issues_complaint-bulletin_2021-05.pdf.
40 BUREAU OF CONSUMER FINANCIAL PROTECTION

requests and denials due to previous modifications or insufficient income.60 In response to these 

complaints, servicers usually explained the relief options for which the consumer’s loan had 

been reviewed and the current status of the servicer’s review. Some servicers stated that requests 

for relief were incomplete and that consumers were required to submit more documentation so 

the servicer could evaluate the loans for all relief options—thereby increasing the time to 

complete the review and decision process.

Borrowers who were delinquent prior to the pandemic and whose loans were privately held had 

fewer relief options when their forbearance period concluded. Some lenders also stated that 

loans were denied modifications because of investor restrictions. In several complaints, 

borrowers had substantial home equity but were denied because the servicer stated that it had 

run a net present value test and determined that the modification would not be profitable for the 

investor. Often in these complaints, borrowers described being told that when the forbearance 

period ended, the servicer would work with them on an acceptable repayment plan, but those

repayment plans oftenrequired large lump sum payments.

In complaints about other loss mitigationefforts, borrowers reported difficulties during the 

application process, alleging unjust denials of assistance requests, application review delays, 

repeat document requests, unclear or conflicting communications, difficulties in reaching their 

single points of contact (SPOC), and frequent changes in their SPOC. Servicers typically 

provided details of previous loss mitigation reviews, including missing documentation, denials, 

and previously approved modifications. Servicers often stated they needed additional

documentation from consumers to review loss mitigation applications.

Borrowers raised several concerns about the servicing of their loans. For example, borrowers 

expressed frustration with customer service during the servicing of their loans, stating they were 

unable to reach their mortgage servicer, did not have calls or emails returned, and that they 

received inaccurate or conflicting information from servicer representatives. Servicers in 

response to these complaints generally acknowledged borrowers' frustration and apologized for 

unsatisfactory customer service.

In other complaints, borrowers reported issues with escrow accounts, expressing frustration 

with having to make repeated attempts to resolve issues such as late fees and penalties 

associated with servicers failing to timely disburse property tax or insurance payments. 

Servicers typically apologized and paid fees for late tax or insurance payments, frequently 

attributing delinquencies to loan boarding or prior servicers.

60 Id. at Section 3.3.
41 BUREAU OF CONSUMER FINANCIAL PROTECTION

Borrowers also complained about mortgage servicers failing to apply payments as requested. In 

some instances, this resulted in late fees and negative credit reporting. Servicers typically 

responded that borrowers did not make timely payments, or that a prior payment was not 

received, resulting in subsequent payments being reported late. When requested, servicers 

usually reapplied payments that were intended to be applied to principal reduction.

Some borrowers reported that servicers did not timely send payoff statements, escrow surplus 

refund checks, or lien releases after payoff. Other borrowers stated that servicers assessed 

surprising fees after payoff. Some servicers explained that it may take 10 business days to send 

payoff statements. Others explained why they assessed fees or stated that satisfaction letters and 

lien releases were sent to recorder offices.

Prospective homebuyers described problems when attempting to purchase or refinance a home. 

For example, borrowers frequently described lengthy application processing times, as well as 

unresponsive company representatives. These prospective homebuyers often stated that these 

delays and poor communication led to closing and settlement delays. Lenders typically 

responded to these types of complaints by stating that they were experiencing higher-thannormal loan application and processing volume due to high demand resulting from historically 

low interest rates.

Homebuyers expressed frustration when their loan applications were denied. Some insisted that 

they were qualified for the loans and several disagreed with reasons for denial provided by 

lenders. Lenders typically responded that loan denials were appropriate under their mortgage 

lending guidelines. Lenders often said loan applications did not meet debt-to-income ratios or 

credit score requirements.

Complaints about undisclosed changes to loan terms and costs was another concern raised by

homebuyers. They shared concerns about receiving several sets of closing disclosures with terms 

different than originally discussed or disclosed in their loan estimates. Lenders sometimes 

responded that they had informed the homebuyer that certain charges could change even after 

the interest rate was locked if adjustments were within permissible tolerances. Some lenders 

stated that increases in application volume resulted in loans not closing within expected 

timeframes. In some instances, lenders responded to these types of complaints by providing 

monetary concessions due to delays.
42 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.6 Money transfer, money services, and 

virtual currencies

The CFPB received approximately 20,900 money transfer, money service, and virtual currency 

(collectively, “money services”) complaints in 2021. The CFPB sent approximately 14,000 (or 

67%) of these complaints to companies for review and response, referred 24% to other 

regulatory agencies, and found 8% to be not actionable. As of February 1, 2022, 0.3% 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 79% of complaints with an explanation, 11% with monetary relief, 

and 6% with non-monetary relief. Companies provided an administrative response for 1% of 

complaints. As of February 1, 2022, 1% 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 money services 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 money services complaints, consumers specify the type of product. 61 In 2021, 

mobile or digital wallet was the most complained about type of product (Figure 27).

61 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.
43 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 27: MONEY SERVICES COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 62The most 

common issue was managing, opening, or closing your mobile wallet account (Figure 28).

62 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.
44 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 28: MONEY SERVICES COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Money services complaint volume increased significantly in 2021. Companies responded, on 

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

average of 680 complaints in 2020 and 410 complaints in 2019). Among the types of products in 

this category, mobile or digital wallets had the greatest change, increasing 164% from the prior 

two years’ monthly average (Figure 29).
45 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 29: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF MONEY SERVICES COMPLAINTS THAT 

MAKE UP 80% OF OVERALL PRODUCT VOLUME

Consumers increasingly submitted complaints abouttheir attempts to manage their mobile 

wallet accounts (Figure 30). Several issues are frequently raised inthese complaints. Consumers 

commonly describe being victimized by fraudulent activity on their account. Consumers stated 

that some scammers impersonated company help desks, while others impersonated government 

officials and accused consumers of committing crimes or threatened arrest. Consumers said they 

could not reach customer service by methods other than support tickets. When they submitted 

support tickets directly to the company (e.g., support tickets about scammers making 

unauthorized transactions on their accounts), the company did not respond. In their responses 

to complaints, companies responded by stating that fraudulenttransfers are not reversible 

because of the design of the assets and that consumers are responsible for the security of their 

accounts. Companies also sometimes responded to consumers by suggesting that consumers 

contact law enforcement about suspected fraudulent activity.
46 BUREAU OF CONSUMER FINANCIAL PROTECTION

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

MAKE UP 80% OF OVERALL PRODUCT VOLUME

Users of these platforms often complained about issues resulting from the timing of trades or 

the ability to execute trades, especially sell orders, during periods of high market volatility. 

Consumers said companies did not explain the reason for limits on their accounts, told them 

they would not release funds for a lengthy period, or did not respond to calls for assistance or 

information, which affected consumers’ ability to respond timely to changes in their asset value.

Companies stated they routinely reviewed account activity, assessed risk, and restricted 

consumer accounts accordingly. Some said account limitations were based on amounts 

consumers owed or payment reversals by banks.

Consumers also described difficulty accessing their accounts because of identity verification 

issues, security holds, or other similar problems. Companies generally responded that they 

removed account limitations, acknowledged account verification delays, and said complaints 

were handled consistent with policy. 
47 BUREAU OF CONSUMER FINANCIAL PROTECTION

Difficulties with customer service are a common theme throughout the complaints. Consumers 

highlighted dissatisfaction with customer support, including automated email responses, lack of 

live customer support, and lengthy response delays. 

Consumers said money service businesses (MSBs) did not deliver money transfers timely and 

did not explain delays, blocks, and cancellations. Consumers also discussed the lack of 

information about the status of returning funds during the process. Consumers described 

multiple calls for information and lack of transparency about transfer status. Companies 

frequently indicated compliance concerns resulted in delayed, blocked, or cancelled money 

transfers. Delays also occurred when partner or recipient banks conducted their own due 

diligence. Companies said partner or recipient banks experienced technical issues that delayed

transfers. Several attributed service challenges to COVID-19 related reduced operational 

capacity or high cryptocurrency demand.

4.7 Vehicle loan or lease

The CFPB received approximately 11,400 vehicle loan or lease complaints in 2021. The CFPB 

sent approximately 7,900 (or 69%) of these complaints to companies for review and response, 

referred 18% to other regulatory agencies, and found 12% to be not actionable. As of February 1, 

2022, 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, 5% with non-monetary 

relief, and 3% with monetary relief. Companies provided an administrative response for 0.6% of 

complaints. As of February 1, 2022, 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 93% 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 2021, consumers complained about vehicle loans more 

frequently than vehicle leases (Figure 31).
48 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 31: VEHICLE LOAN OR LEASE COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers identify the issue that best describes the problem they experienced.63The most 

common issue was managing the loan or lease (Figure 32).

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

Complaints closed with explanation or relief in 2021 Company responses

Vehicle loan or lease complaint volume increased in 2021. Companies responded, on average, to 

more than 630 vehicle loan or lease complaints per month (compared to a monthly average 570 

complaints in 2020 and 450 complaints in 2019). Monthly complaint volume about vehicle 

loans increased 25% compared to the monthly average for the prior two years (Figure 33).

63 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.
49 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 33: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF VEHICLE LOAN OR LEASE COMPLAINTS 

THAT MAKE UP 80% OF OVERALL PRODUCT VOLUME

The most common vehicle loan or lease complaint was about managing the loan or lease. In 

2021, the monthly average for this issue increased 10% compared to the monthly average for the 

prior two years (Figure 34).In these complaints, borrowers reported hours-long hold times and 

difficulty getting responses to their requests. In response, companies generally apologized and 

stated that long hold times were the result of increased call volume, system upgrades, and delays 

in document processing by state motor vehicle registrars.
50 BUREAU OF CONSUMER FINANCIAL PROTECTION

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

THAT MAKE UP 80% OF OVERALL PRODUCT VOLUME

Borrowers also described problems they faced in repaying their loans and having their vehicle 

repossessed. Consumers often cited job loss or lack of income due to COVID-19 as a cause of 

their difficulty in staying current on their vehicle loan or lease. In some complaints, borrowers 

stated that they had trouble getting information about payment assistance and extension 

requests prior to repossession. They also complained about vehicle damage and loss of personal 

property during repossession. Some borrowers requested voluntary repossession due to inability 

to pay. Lenders acknowledged consumers’ financial hardship but sometimes stated they had no 

contact with the consumer after extension periods expired and that they then resumed the 

collection or repossession process. Lender responses usually referenced loan agreements, dates 

of missed payments, and dates of notices of intent to repossess.

Borrowers also complained about problems they encountered at the end of their loans or leases. 

For example, borrowers submitted complaints about delays in getting titles and having liens 

released after paying off auto loans. Borrowers who attempted to purchase their vehicle outright 

reported difficulties receiving buyout quotes and being charged a variety of fees that increased

the price of the transaction. Lenders generally apologized for delays but attributed them to 

delays in document processing by state motor vehicle registrars, as well as payoff errors made by 

borrowers and missing or inaccurate information.
51 BUREAU OF CONSUMER FINANCIAL PROTECTION

In addition, borrowers expressed confusion about account balances, interest calculations, 

extensions, and end-of-lease fees that servicers added to auto loan balances. Borrowers also 

questioned loan balances that remained after primary and guaranteed asset protection (GAP) 

insurance claims. Lenders typically responded that consumer payment histories, interest 

calculations, and the assessment of fees were accurate. 

Borrowers submitted complaints arising from experiences during lease or loan origination. 

Some borrowers complained about issues they faced at the dealership, stating that they felt 

taken advantage of by dealerships, expressing surprise at multiple credit inquiries, unfavorable 

new loan terms after signing initial contracts, and undisclosed mechanical issues with the 

vehicle. Borrowers also complained about being misled by dealership advertisements and 

promotions. The majority of these complaints did not receive responses because they could not 

be routed to individual dealerships. When lenders did respond, they typically restated the terms 

of the original loan or lease and asserted that they were following all laws and regulations in 

honoring the agreed-upon terms of the loan or lease.

Borrowers submitted complaints expressing confusion after loan application denials. Companies 

typically responded that credit decisions were based on factors including a review of the 

customer’s total credit profile, collateral, and overall risk associated with the loan request.

Finally, consumers reported being victims of identity theft and requested finance companies 

remove auto accounts from their credit records. Companies frequently responded that they 

would investigate ID theft claims, at times requesting that consumers provide copies of police 

reports, signed affidavits, and completed fraud packages. After completing investigations, 

companies frequently stated that they had validated accounts and denied requests to remove 

tradelines.

Vehicle loan or lease complaints made up a greater share of complaints for servicemembers than 

other products (see Section 2, Figure 5). Of the complaints submitted by servicemembers, a 

greater share of complaints submitted by servicemembers were about managing the loan or 

lease (Figure 35). The CFPB has previously documented the rising costs of car prices and 

associated increase in auto loan debt.

64For servicemembers, who tend to take out auto loans 

early in their military careers, the increase in auto debt exacerbates an ongoing concernabout 

64 See, e.g., Blog, Ryan Kelly, Chris Kukla, & Ashwin Vasan, Consumer Fin. Prot. Bureau, Rising car prices means 

more auto loan debt (Feb. 24, 2022), https://www.consumerfinance.gov/about-us/blog/rising-car-prices-meansmore-auto-loan-debt/.
52 BUREAU OF CONSUMER FINANCIAL PROTECTION

this population.

65 In their complaints, servicemembers often stated that monthly payments were 

higher than expected.In response, lenders typically restated the terms of the original loan or 

lease and asserted that they were following all laws and regulations in honoring the agreed-upon 

terms of the loan or lease.

FIGURE 35: PROPORTION OF SERVICEMEMBER COMPLAINTS FOR VEHICLE LOAN OR LEASE ISSUES

Some servicemembers reported that auto lenders were not honoring provisions of the 

Servicemembers Civil Relief Act (SCRA) when servicemembers tried to end leases early, or had 

vehicles repossessed without the required court order. In response, companies sometimes stated 

that the loan in question was not subject to SCRA provisions, asked for more information to 

confirm the borrower was in active duty, or reconsidered their position and extended SCRA 

relief.

65 See, e.g., Consumer Fin. Prot. Bureau, Financially Fit? Comparing the credit records of young servicemembers 

and civilians (July 2020) at pp. 3-4, https://files.consumerfinance.gov/f/documents/cfpb_financially-fit_credityoung-servicemembers-civilians_report_2020-07.pdf (“Young servicemembers use different forms of credit than 

civilians, and their usage depends on the timing of military service. Servicemembers tend to take out auto loans and 

open revolving accounts soon after joining the military. They then often take out student loans soon after leaving. 

Compared to civilians overall, between ages 18 and 24 servicemembers are more likely to have an auto loan or a 

credit card, slightly more likely to have a mortgage, and less likely to have a student loan or a third-party collections 

account.”). 
53 BUREAU OF CONSUMER FINANCIAL PROTECTION

4.8 Prepaid card

The CFPB received approximately 7,100 prepaid card complaints in 2021. The CFPB sent 

approximately 4,300 (or 60%) of these complaints to companies for review and response, 

referred 31% to other regulatory agencies, and found 8% to be not actionable. As of February 1, 

2022, 0.4% of prepaid card complaints were pending with the consumer and 0.03% were 

pending with the CFPB.

Companies responded to 96% of prepaid card complaints sent to them for review and response. 

Companies closed 64% of complaints with an explanation, 18% with monetary relief, and 10% 

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

As of February 1, 2022, 1% 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 prepaid card 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 prepaid card complaints, consumers specify the type of product.66 In 2021, 

government benefit cards were the most complained about prepaid product type (Figure 36).

FIGURE 36: PREPAID COMPLAINTS BY TYPE OF CARD AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

66 Options include: general-purpose prepaid card; gift card; government benefit card; payroll card; and, student 

prepaid card.
54 BUREAU OF CONSUMER FINANCIAL PROTECTION

Consumers also identify the issue that best describes the problem they experienced. 67 The most 

common issue was problem with a purchase or transfer (Figure 37).

FIGURE 37: PREPAID COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Prepaid card complaint volume decreased in 2021. This decrease was generally the result of 

fewer complaints about government benefit cards (Figure 38).

FIGURE 38: MONTHLY COMPLAINT VOLUME FOR TYPE(S) OF PREPAID CARD COMPLAINTS THAT MAKE 

UP 80% OF OVERALL PRODUCT VOLUME

67 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.
55 BUREAU OF CONSUMER FINANCIAL PROTECTION

Complaints about getting or closing a prepaid account decreased in 2021 (Figure 39). In these 

complaints, cardholders often stated that their card was lost or stolen, to which card issuers 

responded with information about getting a replacement card. Some cardholders complained 

about receiving unsolicited prepaid cards, often cards for unemployment benefits. In their 

responses to these complaints, card issuers typically explained that this was likely the result of 

attempted fraud on the part of a person other than the cardholder, and that these accounts had 

been closed.

FIGURE 39: MONTHLY COMPLAINT VOLUME FOR ISSUE(S) OF PREPAID CARD COMPLAINTS THAT MAKE 

UP 80% OF OVERALL PRODUCT VOLUME

Fraudulent or suspected fraudulent activity on prepaid cards is a common theme in complaints. 

Consumers stated they could not access funds due to unauthorized or fraudulent transactions, 

and that cards were not received, were stolen, or were deactivated by companies. Some 

consumers received unemployment benefit cards for which they did not apply. Companies 

generally responded that holds placed on prepaid cards were due to fraudulent or suspicious 

activity identified by fraud monitoring and that accounts were then placed on hold, or cards 

were closed or deactivated until account verification completion. Companies also said 

unsolicited employment cards were issued at the direction of state unemployment agencies.

In complaints about gift cards, cardholders often stated that balances were stolen from their gift 

cards, or that their gift cards had been locked due to suspected fraud. In the case of stolen funds, 
56 BUREAU OF CONSUMER FINANCIAL PROTECTION

card issuers typically responded and stated that gift card purchases were similar to purchases 

made with cash and they were not able to help recover the money. When cardholders 

complained about locked or frozen gift cards, card issuers generally responded giving the reason 

for the account freeze and letting the consumer know what next steps needed to be taken to 

unlock the card.

In other prepaid cards, cardholders expressed concernabout fraudulent ATM and purchase 

activity on prepaid card accounts. Cardholders said they were victims of scams and identity theft 

in which online information was altered to gain account access, resulting in card restrictions, 

such as fraud holds, blocks, and closures. Card issuers generally responded that monitoring 

measures were in place to detect suspected fraudulent activity, which prompted fraud holds, 

card suspensions, and account closures. New prepaid cards were usually issued, and restrictions 

removed, after cardholders verified their identities.

Consumers also submitted complaints about high or unexpected fees they were charged to use 

their prepaid cards. Often these fees were charged to replace lost cards or send replacement 

cards via expedited shipping. Some consumers also complained about “maintenance” or 

“inactivity” fees being charged to their prepaid cards. In response to these complaints, card 

issuers typically asserted that the schedule of fees had been made available to the consumer at 

the time the card was issued; however, some companies refunded the fees in question as a 

“customer service gesture.”

Finally, complaints from cardholders sometimes expressed frustration with the inability to reach 

customer service representatives to address concerns with their prepaid cards. Card issuers 

often apologized to consumers for customer service challenges, adding that additional 

information or time, due to high call volume, was needed to address concerns.

4.9 Student loan

The CFPB received approximately 6,300 student loan complaints in 2021. The CFPB sent 

approximately 4,200 (or 66%) of these complaints to companies for review and response, 

referred 15% to other regulatory agencies, and found 18% to be not actionable. As of February 1, 

2022, 0.4% of student loan complaints were pending with the consumer and 0.3% were pending 

with the CFPB.

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

Companies closed 81% of complaints with an explanation, 13% with non-monetary relief, and 

2% with monetary relief. Companies provided an administrative response for 0.8% of 
57 BUREAU OF CONSUMER FINANCIAL PROTECTION

complaints. As of February 1, 2022, 1% 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 student 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 student loan complaints, consumers specify whether they are complaining 

about a federal student loan or a private student loan. In 2021, consumers complained about 

federal student loans more frequently than private student loans (see Figure 40).

FIGURE 40: STUDENT LOAN COMPLAINTS BY TYPE OF LOAN AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 68The most 

common issue was dealing with your lender or servicer (Figure 41).

FIGURE 41: STUDENT LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

As was the case in 2020, student loan complaint volumes remained lower in 2021 than in years 

prior to the COVID-19 pandemic (Figure 42). Lower complaint volumes are likely explained, in 

68 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.
58 BUREAU OF CONSUMER FINANCIAL PROTECTION

part, by the U.S. Department of Education extending the pause on federal student loan 

repayment, interest, and collections for federally held student loans through May 1, 2022.69

FIGURE 42: MONTHLY COMPLAINT VOLUME FOR STUDENT LOAN TYPES

Even with a pause on student loan payments, borrowers described issues that arose when 

interacting—or attempting to interact—with their loan servicers. For example, borrowers 

described customer service difficulties, delays in receiving answers to their questions, and 

payment application issues for those who chose to continue their payments.70 Additionally, 

some federal student loan borrowers complained that their servicer did not correctly apply the 

forbearance and the borrower was receiving debt collection notices. In response to these 

complaints, companies often responded that the consumer’s loans, such as Federal Family 

Education Loan Program (FFELP) loans that were not federally held, did not qualify for

forbearance.

Private student loan borrowers complained that they were unable to take advantage of the same 

forbearance options available to borrowers with federally held loans. In response to these 

complaints, companies typically reiterated that private student loans were not eligible for the 

forbearance offered to borrowers with federally held student loans.

69 See, e.g., Press Release, U.S. Dep’t of Educ., Biden-Harris Administration Extends Student Loan Pause Through 

May 1, 2022 (Dec. 22, 2021), https://www.ed.gov/news/press-releases/biden-harris-administration-extendsstudent-loan-pause-through-may-1-2022.

70 See Consumer Fin. Prot. Bureau, supra note 40 at Section 2.
59 BUREAU OF CONSUMER FINANCIAL PROTECTION

Borrowers continued to submit complaints about the Public Service Loan Forgiveness (PSLF) 

program. As was the case for the past several years, consumers reported loan servicers did not 

provide accurate qualifying payment counts and, in some instances, borrowers reported they 

continued submitting monthly payments after loan forgiveness criteria had been met. Other 

borrowers described paying on their student loans for years, only to later be informed that their 

loan was under an ineligible repayment plan. Student loan servicers typically replied that 

payments were not counted as qualifying for the PSLF program if the loans were in deferral or 

forbearance, or if updated employment certification forms were not received. In response to 

some complaints, the servicers explained that PSLF is not available for private student loans or 

loans made under the FFELP. 

On October 6, 2021, in response to widespread reports of problems qualifying for forgiveness 

under the PSLF program, the Department of Education announced a temporary expansion of 

what constitutes a “qualifying payment.”71This temporary expansion is scheduled to expire on 

October 31, 2022. After the program was announced, borrowers complained of long hold times 

to reach customer service representatives, and that when they did, they received incorrect 

information from loan servicers. In their responses, loan servicers generally apologized and 

mentioned greatly increased call volumes as contributing to long wait times.

In addition, the temporary PSLF expansion offers borrowers the possibility of refunds of loan 

overpayments in certain circumstances. As a result of this provision, several consumers 

complained that they faced delays and confusion in receiving these refunds. Loan servicers often 

responded by forgiving the remaining loan balances and issuing refunds. However, some 

servicers responded that more information was needed from the consumer; other companies 

responded that another servicer was managing the loan due to changes to the PSLF program, 

and that the consumer should contact that servicer instead. 

Both private and federal student loan borrowers also complained of payment application issues. 

For example, some consumers stated that their servicer did not honor standing payment 

instructions. In addition, consumers reported that companies misapplied their payments by 

allocating extra funds towards advancing the next payment, instead of using the extra funds to 

curtail the principal loan balance. Other consumers reported that payments were not applied to 

their accounts. Some consumers described experiences where payments were made toward their 

student loan balance over a period of years, but the principal balance was not reduced. 

Companies generally responded that loans were serviced according to the terms of promissory 

notes and were accurately reported to consumer reporting companies. Additionally, companies 

71 See, e.g., Press Release, U.S. Dep’t of Educ., Fact Sheet: Public Service Loan Forgiveness (PSLF) Program 

Overhaul (Oct. 6, 2021), https://www.ed.gov/news/press-releases/fact-sheet-public-service-loan-forgiveness-pslfprogram-overhaul.
60 BUREAU OF CONSUMER FINANCIAL PROTECTION

frequently explained that payments are first applied toward either unpaid fees or unpaid interest 

and then toward the principal balance.

Finally, consumers reported receiving calls and letters offering to help them reduce student loan 

payments or assist them with loan forgiveness. Consumers described being required to pay 

enrollment and monthly fees to companies, only to find the services that they had been 

promised were not delivered. When borrowers raised this issue to their loan servicer, the 

servicer typically reiterated that the borrower did not need to pay anyone to help them manage 

their student loan, such as entering into a repayment plan.

4.10 Personal loan

The CFPB received approximately 5,500 personal loan complaints in 2021.The CFPB sent 

approximately 3,400 (or 61%) of these complaints to companies for review and response, 

referred 28% to other regulatory agencies, and found 10% to be not actionable. As of February 1, 

2022, 0.4% of personal loan complaints were pending with the consumer and 0.3% were 

pending with the CFPB.

Companies responded to 97% of personal loan complaints sent to them for review and response. 

Companies closed 82% of complaints with an explanation, 5% with non-monetary relief, and 5% 

with monetary relief. Companies provided an administrative response for 3% of complaints. As 

of February 1, 2022, 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 2021, consumers complained about personal loans 

obtained online more than personal loans obtained at a store (Figure 43).
61 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 43: PERSONAL LOAN COMPLAINTS BY LOAN SOURCE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

When submitting personal loan complaints, consumers specify the type of product.72 In 2021, 

installment loans were the most complained about type of personal loan product (Figure 44).

FIGURE 44: PERSONAL LOAN COMPLAINTS BY TYPE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 73The most 

common issue was charged fees or interest you didn’t expect (Figure 45).

72 Options include: installment loan, personal line of credit, or pawn loan.

73 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.
62 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 45: PERSONAL LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

In their personal loan complaints, consumers commonly complained about being charged fees 

or interest they did not expect. In some of these complaints, borrowers specifically stated that 

the terms of their loan violated the usury laws in their state. In response, lenders often explained 

that the loan was originated in another state with more lenient usury laws. Borrowers also 

complained about high monthly payments or interest rates. In response, lenders generally stated 

that the terms of the loan given to the borrower were clearly stated up front and no 

modifications were possible. 

Borrowers also submitted complaints about problems with the process of making payments. In 

some cases, the borrowers were unable to access their accounts online. In their responses, 

lenders generally stated that they had reached out to the borrower and helped re-establish 

account access. In other complaints about the same issue, borrowers reported being financially 

unable to make payments, and often complained about the lender’s collection tactics, such as 

excessive phone calls. In response, lenders generally agreed to stop contacting borrowers about 

the debt but reminded the borrower that the debt was still valid and owed.

Consumers also submitted complaints about companies offeringBuy-Now-Pay-Later (BNPL) 

credit—a type of deferred payment option that generally allows the consumer to split a purchase 

into smaller installments, typically four or less, often with a down payment of 25 percent due at 
63 BUREAU OF CONSUMER FINANCIAL PROTECTION

checkout.

74 In these complaints, consumers describe several issues, including issues with 

merchandise, merchandise refunds, modifying payments, and difficulty reaching customer 

service.Additionally, consumers raised concerns about credit reporting as some BNPL providers 

stated that they furnished information to consumer reporting companies, whereas others did 

not.

4.11 Payday loan

The CFPB received approximately 1,500 payday loan complaints in 2021. The CFPB sent 

approximately 800 (or 54%) of these complaints to companies for review and response, referred 

35% to other regulatory agencies, and found 10% to be not actionable. As of February 1, 2022, 

0.8% of payday loan complaints were pending with the consumer and 0.2% were pending with 

the CFPB.

Companies responded to approximately 94% of payday loan complaints sent to them for review 

and response. Companies closed 83% of complaints with an explanation, 1% with monetary 

relief, and 2% with non-monetary relief. Companies provided an administrative response for 6% 

of complaints. As of February 1, 2022, 1% of complaints were pending review by the company. 

Companies did not provide a timely response for 6% 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 84% 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 2021, consumers complained about payday loans 

obtained online more than payday loans obtained at a store (Figure 46).

74 See Consumer Fin. Prot. Bureau, Consumer Financial Protection Bureau Opens Inquiry into “Buy Now, Pay Later” 

Credit (Dec. 16, 2021), https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protectionbureau-opens-inquiry-into-buy-now-pay-later-credit/.
64 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 46: PAYDAY LOAN COMPLAINTS BY LOAN SOURCE AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Consumers also identify the issue that best describes the problem they experienced. 75 The most 

common issue was charged fees or interest you didn’t expect (Figure 47).

FIGURE 47: PAYDAY LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

Complaints about being charged unexpected fees or interest remain the most common type of 

complaint received in 2021. In these complaints, borrowers stated that they did not understand 

how costly the loan would be when they received it or were surprised at the length of time it took 

to pay off the loan. In response to these complaints, payday lenders responded that the loan’s 

75 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.
65 BUREAU OF CONSUMER FINANCIAL PROTECTION

APR was disclosed at the time the loan was originated. In addition, some lenders stated that 

they provided notice that the type of loan was an expensive form of borrowing, while others 

advised consumers about potential payment assistance.

Consumers also submitted complaints stating that they had received a loan they did not apply 

for. Often the consumer would state they had received a call or an email about a debt they did 

not recognize. 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 confirming that fraudulent activity had taken 

place and canceled the loans. In other cases, the companies alleged that the loan was valid and 

stated they would continue attempting to collect the debt.

Borrowers also submitted complaints about struggling to repay loans. In these complaints, 

borrowers sometimes mentioned recent job losses or other exigent circumstances that were 

impacting their ability to pay. Some consumers expressed frustration with lenders’ debt 

collection tactics. In response to these complaints, borrowers sometimes explained that the loan 

had subsequently been sold to a third-party collector, and recommended the borrower reach out 

to the debt collector. Other lenders encouraged borrowers to contact them directly to work out 

payment arrangements. In a few cases, lenders stated that they were not attempting to collect a 

debt from the borrower.

Finally, borrowers sometimes submitted complaints about payday lenders continuing to 

automatically withdraw funds from the borrower’s bank account even after the borrower had 

revoked Automated Clearing House (ACH) authorization. In response, most lenders responded 

that they had not received a valid revocation from the borrower but agreed to stop making ACH 

withdrawals going forward.

4.12 Credit repair

The CFPB received approximately 1,300 credit repair complaints in 2021. The CFPB sent 

approximately 680 (or 50%) of these complaints to companies for review and response, referred

36% to other regulatory agencies, and found 12% to be incomplete. As of February 1, 2022, 0.5% 

of credit repair complaints were pending with the consumer and 0.4% were pending with the 

CFPB.

Companies responded to approximately 95% of credit repair complaints sent to them for review 

and response. Companies closed 76% of complaints with an explanation, 7% with monetary 

relief, and 5% with non-monetary relief. Companies provided an administrative response for 7% 
66 BUREAU OF CONSUMER FINANCIAL PROTECTION

of complaints. As of February 1, 2022, 1% 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 credit repair complaints for which the 

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

explanation or relief. In 86% of these complaints, consumers reported that they attempted to 

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

Consumers identify the issue that best describes the problem they experienced. 76The most 

common issue was fraud or scam (Figure 48).

FIGURE 48: CREDIT REPAIR COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 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 companies, 

demonstrating a disconnect between how the product appeared in marketing materials and the 

results that they ultimately received after purchasing the product or service. Consumers also 

expressed frustration and dissatisfaction with the fees that some of these companies charge, 

often stating that the cost of the services offered was not worth the benefits provided. 

76 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.
67 BUREAU OF CONSUMER FINANCIAL PROTECTION

Another common issue mentioned in complaints involved the difficulty consumers encountered 

cancelling services. Frequently, consumers complained that charges were made to their credit 

card or bank account after they requested cancellation. In response, companies generally stated 

that they did not have a record of a consumer requesting account cancelation and would often 

cancel the service as a courtesy.

4.13 Title loan

The CFPB received approximately 600 title loan complaints in 2021. The CFPB sent 

approximately 410 (or 69%) of these complaints to companies for review and response, referred 

24% to other regulatory agencies, and found 6% to be incomplete. As of February 1, 2022, 0.7% 

of title loan complaints were pending with the consumer and 0.3% were pending with the CFPB.

Companies responded to 95% of title loan complaints sent to them for review and response. 

Companies closed 79% of complaints with an explanation, 10% with non-monetary relief, and 

2% with monetary relief. Companies provided an administrative response for 2% of complaints. 

As of February 1, 2022, 2% 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 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 title loan complaints, consumers identify the issue that best describes the 

problem they experienced.77 The most common issue was problem with the payoff process at 

the end of the loan(Figure 49).

77 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.
68 BUREAU OF CONSUMER FINANCIAL PROTECTION

FIGURE 49: TITLE LOAN COMPLAINTS BY ISSUES AND OUTCOMES

Complaints closed with explanation or relief in 2021 Company responses

The most common complaint about title loans concerned problems with the payoff process at 

the end of the loan. In these complaints, borrowers often expressed confusion as to why their 

loan continued to have a balance due after the borrower made what they thought was the final 

payment. In response to these complaints, lenders often responded by explaining the remaining 

balances were the result of late fees, missed payments, or other charges such as vehicle 

repossession charges, and that the amount shown as due was still valid and owed. 

Borrowers also submitted complaints about struggling to pay their loan. In these complaints, 

borrowers often stated that they were temporarily unable to make their payments due to illness, 

unemployment, or other hardship. In their responses, lenders generally explained that hardship 

forbearances or other loan modifications were available, but that the lender was waiting on the 

borrowers to provide additional requested documentation before any modification could be 

considered. Lenders also often encouraged borrowers to reach out to them directly to discuss 

payment options.
69 BUREAU OF CONSUMER FINANCIAL PROTECTION

5. Conclusion

When Congress createdthe CFPB, it designated “collecting, investigating, and responding to 

consumer complaints” as one of the Bureau’s primary functions.In 2021, the CFPB sent more 

than 750,000 complaints to approximately 3,400 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 supporttheir 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, 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.
70 CONSUMER FINANCIAL PROTECTION CFPB

Appendix

TABLE 1: TOTAL COMPLAINTS BY CONSUMER’S LOCATION AND PRODUCT IN 2021

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 374 355 25,670 25 1,843 177 304 20 70 102 61 7 125 29,136

Alaska 38 33 415 2 99 34 49 1 11 6 11 2 6 707

American Samoa - - - - - 1 - - - - - - - 1

Arizona 838 729 7,739 24 2,664 385 709 27 107 159 96 25 218 13,725

Arkansas 204 205 2,889 21 774 99 145 8 27 76 45 - 72 4,566

California 5,373 4,922 70,628 184 13,921 2,682 4,824 159 645 1,317 597 101 1,178 106,546

Colorado 612 633 3,717 26 1,311 332 655 20 73 201 93 14 155 7,845

Connecticut 537 484 3,443 10 786 192 441 9 52 45 89 4 141 6,233

Delaware 209 201 3,273 7 570 82 168 8 29 27 30 3 66 4,674

District of Columbia 247 196 2,438 7 334 87 214 7 34 38 68 5 52 3,727

Florida 3,139 3,325 81,588 88 12,139 1,519 2,953 88 454 354 426 51 1,184 107,318

Georgia 1,576 1,433 55,006 68 9,955 692 1,490 56 332 234 241 24 579 71,689

Guam 4 3 20 - 2 - 3 - 2 1 - - - 35

Hawaii 98 116 772 6 173 67 113 3 15 23 14 - 18 1,418

Idaho 95 77 593 3 282 43 87 9 28 25 17 - 22 1,281

Illinois 1,526 1,312 24,674 48 3,779 634 1,172 62 195 202 258 17 384 34,268
71 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

Indiana 391 369 4,808 24 1,551 252 304 22 70 83 76 8 105 8,066

Iowa 121 150 1,484 8 443 69 141 5 23 49 44 2 26 2,566

Kansas 228 176 1,425 10 482 93 129 11 13 51 37 4 49 2,709

Kentucky 258 183 2,106 15 676 116 208 14 35 54 37 6 69 3,777

Louisiana 460 314 27,283 13 2,483 196 297 36 95 93 96 8 171 31,546

Maine 86 86 308 1 165 47 94 5 7 18 20 1 21 859

Marshall Islands - - - - - 2 - - - - - - - 2

Maryland 1,048 1,040 20,770 43 2,716 444 1,180 32 130 145 171 15 308 28,045

Massachusetts 715 1,212 6,721 23 3,866 381 738 20 67 116 218 4 457 14,540

Michigan 843 858 11,713 26 2,410 350 672 31 168 194 200 10 243 17,725

Minnesota 456 439 3,375 12 987 198 334 16 66 70 85 5 114 6,159

Mississippi 188 189 9,259 14 963 78 163 15 48 67 48 12 81 11,126

Missouri 401 385 6,249 25 1,695 204 347 26 86 117 85 9 164 9,795

Montana 56 62 297 1 145 45 62 7 7 18 10 2 33 745

Nebraska 100 111 526 2 278 51 97 3 21 20 25 1 37 1,272

Nevada 633 565 8,699 22 1,670 281 373 32 78 188 57 5 163 12,770

New Hampshire 122 109 423 3 182 60 118 5 14 11 19 1 28 1,095

New Jersey 1,312 1,758 24,905 40 3,035 593 1,415 32 167 170 268 17 489 34,206

New Mexico 148 126 912 2 394 89 143 15 19 50 24 3 28 1,954

New York 3,199 3,542 42,753 96 6,006 1,405 1,769 30 254 381 423 29 730 60,628

North Carolina 949 1,046 20,900 36 3,551 447 959 35 184 132 194 14 355 28,807
72 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 18 34 268 3 78 23 15 3 5 8 5 - 13 473

Northern Mariana 

Islands 2 - 1 - 1 1 - - - - - - - 5

Ohio 1,015 1,137 17,112 30 4,275 439 758 59 206 280 244 14 356 25,928

Oklahoma 253 212 2,389 6 875 115 225 18 34 85 36 6 77 4,333

Oregon 441 409 1,740 16 642 220 319 8 60 105 89 6 71 4,129

Pennsylvania 1,368 1,731 49,250 82 4,467 538 1,151 26 170 314 355 22 513 59,993

Puerto Rico 79 92 4,709 5 156 45 114 3 17 6 11 - 31 5,268

Rhode Island 122 174 736 5 452 50 121 3 16 14 24 1 48 1,766

South Carolina 368 545 17,133 16 2,576 202 461 33 176 68 120 17 280 21,996

South Dakota 52 49 166 1 104 23 29 2 6 9 11 - 14 466

Tennessee 573 480 28,279 27 2,620 254 480 46 148 121 121 14 220 33,383

Texas 2,839 2,793 84,135 91 15,386 1,267 2,405 160 447 437 467 41 1,004 111,481

U.S. - Armed 

Forces Americas - - 13 - 2 3 - - - - - - - 18

U.S. - Armed 

Forces Europe 6 17 125 1 28 9 10 - 1 1 6 - 2 206

U.S. - Armed 

Forces Middle East - - 1 - 2 - - - - - 1 - - 4

U.S. - Armed 

Forces Pacific 5 7 34 - 27 6 3 - 1 - 3 - 1 87

US Virgin Islands 6 3 218 - 27 6 7 - 2 - 2 - 1 272

United States Minor 

Outlying Islands 14 22 72 - 32 13 4 1 1 1 - - 4 164

Unspecified 1,200 643 1,729 33 904 3,952 542 107 198 354 132 23 175 10,001

Utah 224 237 2,687 9 622 115 207 14 27 32 25 4 69 4,272
73 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 43 56 125 1 65 15 52 1 8 3 9 1 7 386

Virginia 916 1,095 12,980 31 3,243 465 1,106 49 162 161 263 22 320 20,819

Washington 799 815 4,319 24 1,458 497 709 29 109 117 134 5 185 9,208

West Virginia 136 84 736 5 265 53 71 3 15 35 28 2 24 1,458

Wisconsin 341 372 3,421 18 972 165 309 25 65 87 73 6 100 5,956

Wyoming 30 28 145 1 106 27 28 2 4 7 3 - 15 396

Grand Total78 37,434 37,779 710,304 1,340 121,715 20,930 31,996 1,461 5,504 7,082 6,345 593 11,401 994,029

78 Total column includes approximately 100 complaints where no specific consumer financial product was selected by consumers .