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Financial Services Law Insights and Observations

CFPB Monthly Complaint Snapshot Highlights Money Transfer Complaints

CFPB Consumer Complaints

Consumer Finance

On December 22, the CFPB released its monthly complaint report, which focuses on money transfer complaints. According to the report, as of December 1, the CFPB has handled approximately 5,100 money transfer complaints, domestically and internationally. The most complained-about issues include difficulties with the safe and efficient transfer of money, as well as fraud allegations. Additional complaints include inadequate customer service and issues resolving refund errors. Similar to previous complaint snapshots, the report identifies the most-complained-about companies. The CFPB identified the District of Columbia and Delaware as having the highest complaint volume per capita in the country, and placed Georgia as its geographic spotlight, noting that as of December 1, consumers submitted more than 31,000 complaints, with mortgage-related complaints taking the lead.