From the Web: Consumer Litigation Filings, Complaints Increase Across the Board
WebRecon’s monthly analysis shows a universal increase for the first time in more than two years.
10/3/2018 2:00 PM
Consumer litigation filings and complaints to the Bureau of Consumer Financial Protection and Better Business Bureau all increased in August for the first time since February 2016, according to the latest report from WebRecon.
Filings under the Fair Debt Collection Practices Act, Fair Credit Reporting Act and Telephone Consumer Protection Act increased by “significant margins,” WebRecon CEO Jack Gordon notes in the report.
FDCPA filings increased 24.1 percent from 731 in July to 907 in August, FCRA filings increased 13.6 percent from 381 in July to 433 in August and TCPA filings increased 13.5 percent from 319 to 362.
Year-to-date filings are mixed, with declines for the TCPA and FDCPA and an increase for the FCRA.
FDCPA filings declined 6.1 percent from 6,794 as of the end of August 2017 to 6,380 in August this year. TCPA filings also declined, by 14.3 percent, from 3,157 as of the end of August 2017 to 2,706 this year. FCRA filings increased by 13.2 percent from 2,771 to 3,137.
Complaints to the BCFP increased 9.8 percent from July to August (4,023 to 4,416) and by 11 percent (33,533 to 37,208) year-to-date, according to the report.
Similar to June and July, debt collection companies responded to a majority, 96 percent (4,225), of August CFPB complaints in a timely manner.
Read more findings, including data on complaints to the BBB since 2016, in the WebRecon report.
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