WebRecon’s latest report shows monthly increases in consumer litigation filings but year-to-date declines.
4/30/2021 9:00
Here are the latest statistics tracked by WebRecon LLC on consumer ligation filings.
Looking at the monthly changes from February to March, Fair Debt Collection Practices Act filings increased 18.7% from 471 to 559; Fair Credit Reporting Act filings increased 25% from 412 to 515, and Telephone Consumer Protection Act filings increased 24.4% from 160 to 199.
WebRecon CEO Jack Gordon calls the March numbers “a novel twist on recent history.”
Year-to-Date Filings
However, Gordon explains in his monthly report that FDCPA filings declined 19.7% from 1,895 to 1,522 when comparing Jan. 1, 2020-March 31, 2020, and Jan. 1, 2021-March 31, 2021.
TCPA filings declined 43.8% year-to-date from 2020 while FCRA filings did increase by 5.7%.
Complaints to the Consumer Financial Protection Bureau increased 42.9% year-to-date from 2020 and monthly from February to March by 28.5%.
Timely responses from financial services companies continue to come in at strong rate: 97%.