Complaints to CFPB continue overall decline, according to latest WebRecon report.
11/21/2019 11:00
This fall produced an increase in consumer litigation filings from September to October. The Fair Credit Reporting Act, typically a strong statute on the legal front, “was far weaker” compared to the Fair Debt Collection Practices Act and Telephone Consumer Protection Act, according to WebRecon CEO Jack Gordon’s latest report.
The monthly numbers for October include increases of 1.4% for the FCRA and 5.8% for the FDCPA; and a 11.3% decline for the TCPA.
Year-to-date filings (comparing filings from Jan. 1, 2018, through Oct. 31, 2018, to filings from Jan. 1, 2019, through Oct. 31, 2019) include:
- A 9.3% decline for the FDCPA from 7,760 in 2018 to 7,039 in 2019
- A 8.7% increase for the FCRA from 3,831 in 2018 to 4,163 in 2019
- A 16% decline for the TCPA from 3,296 in 2018 to 2,767 in 2019.
Complaints to the Consumer Financial Protection Bureau continue to decline.
Data on the complaints to the CFPB show a 11.4% drop year-to-date, or from 45,106 between January and October 2018 to 39,952 between January and October this year, according to the report.
Monthly complaints declined 0.4% from 4,015 in September to 3,999 in October, and the accounts receivable management industry continues its strong response to consumers with 97% of responses reported in a timely manner.