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Friday, September 2, 2016

CFPB Monthly Complaint Snapshot: Bank Account and Service Complaints

This month’s CFPB complaint snapshot highlighted bank account and service complaints. Consumers frequently complained about consumer and credit reporting data being used in screening for new accounts. Consumers also complained about overdrafts on their accounts occurring because of confusion about the availability of funds they had deposited or were attempting to deposit.

There are more than 200 million deposit accounts open nationwide, the bureau reports. As of August 1, 2016, the CFPB has handled roughly 94,200 bank account or service complaints. The report also took an in-depth look at complaints coming from Ohio and the Columbus metro area.

Read the report.

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