FDCPA and FCRA cases fell, while TCPA and CFPB complaints increased in March, according to the latest report from WebRecon.
05/07/2024 1:50 P.M.
2 minute read
WebRecon’s latest report shows litigation decreased in March for the Fair Debt Collection Practices Act and Fair Credit Reporting Act, while Telephone Consumer Protection Act and Consumer Financial Protection Bureau claims rose.
FDCPA suits decreased 13.1% from February 2024 to March 2024, FCRA cases decreased 30.6%, TCPA cases increased 1.5%, and CFPB complaints increased 39%, according to WebRecon findings.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for March 2024.
Fair Debt Collection Practices Act
FDCPA claims decreased by 13.1% to 319 in March compared to 367 in February. Compared to claims from Jan. 1 through March 31, 2023, FDCPA claims increased 12.9%, from 1,012 to 1,143 during the same period in 2024.
Telephone Consumer Protection Act
TCPA claims increased 1.5%, with 139 claims in March compared to 137 claims in February. Compared to claims from Jan. 1 through March 31, 2023, TCPA claims increased 26.6%, from 376 to 476 during the same period in 2024.
Fair Credit Reporting Act
FCRA claims decreased by 30.6% to 469 claims in March compared to 676 claims in February. Compared to claims from Jan. 1 through March 31, 2023, FCRA claims increased 28.4%, from 1,309 to 1,681, during the same period in 2024.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB increased by 39% to 12,335 in March compared to 8,876 in February.
There were 6,387 complaints in March 2023 compared to the 12,335 complaints in March 2024—a 93.1% increase.
The types of debt behind the complaints were:
5,209 I do not know (42%)
2,249 Credit card debt (18%)
1,916 Other debt (16%)
903 Telecommunications debt (7%)
648 Rental debt (5%)
632 Medical debt (5%)
419 Auto debt (3%)
172 Payday loan debt (1%)
95 Mortgage debt (1%)
52 Private student loan debt (0%)
40 Federal student loan debt (0%)
The most common type of complaint was about attempts to collect debt not owed, at 48% or 5,962 complaints, followed by complaints about written notification about a debt at 35% or 4,361.
Read the complete WebRecon report here.
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