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Tuesday, November 24, 2015

CFPB Releases Monthly Complaint Snapshot on Bank Accounts

This month’s CFPB complaint snapshot spotlighted bank account and service complaints. The report took an in-depth look at Connecticut and the Hartford metro area. Consumers’ most frequent bank account or service complaints were about account management. Specifically, consumers complained about being unable to open an account or an account being closed without explanation. Some consumers also struggled to resolve transaction disputes and reported issues with depositing and withdrawing funds.

According to the report, more than 200 million Americans have open deposit accounts. The CFPB has handled approximately 75,300 bank account or service complaints since March 1, 2012, representing about 10% of total complaints.

Read more.

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