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Tuesday, November 1, 2016

CFPB Monthly Complaint Snapshot: Prepaid Product Complaints

The CFPB complaint snapshot for October highlighted prepaid product complaints. Consumers frequently complained about transactions they did not recognize appearing on their accounts and difficulty registering and using their cards after purchasing them. Consumers also complained about experiencing prolonged investigations after submitting claims about stolen funds.

As of October 1, the bureau had handled approximately 6,000 prepaid product complaints and 1,008,500 complaints across all products. The report also took an in-depth look at complaints coming from North Carolina and the Charlotte metro area.

Read more.

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