CFPB: Most consumer complaints target credit reports

The Consumer Financial Protection Bureau said more than three-quarters of its consumer complaints in 2022 focused on credit or consumer reporting, primarily related to inaccurate information on consumer credit reports.

More: In its annual report on consumer complaints, the CFPB also said:

  • Complaints about checking and savings accounts increased, focusing on problems with account closures, fraudulent activity, and customer service.
  • Complaints about student loans increased significantly but remained a small percentage of overall complaints.
  • Consumer complaints about money service fraud or scams also increased, with several virtual currency consumers reportedly losing money when they were contacted by scammers or fraudsters posing as investment or financial institution representatives.

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