WebRecon Report: CFPB Debt Collection Complaints Decline 25 Percent Year-to-Date

Monthly consumer litigation filings show uptick from March while year-to-date litigation filings fluctuate.

5/20/2019 8:00 AM

WebRecon Report: CFPB Debt Collection Complaints Decline 25 Percent Year-to-Date

Debt collection complaints filed with the Consumer Financial Protection Bureau declined 21.3% this spring. Meanwhile, as a credit to the industry, the CFPB reported that collection agencies responded to 97% of the complaints in a timely manner.

While it has been established that complaints tend to fluctuate, there were 3,358 complaints filed in April compared to 4,269 in March, thus a 21.3 % decline, according to WebRecon CEO Jack Gordon’s latest report for the month of April. Year-to-date, CFPB complaints declined 25.5% from 19,648 to 14,635.

Filings for the Fair Debt Collection Practices Act, Fair Credit Reporting Act and Telephone Consumer Protection Act increased for the first time since January, according to the WebRecon report.

In the report for March filings and complaints from WebRecon, year-to-date consumer litigation statistics showed declines in FCRA, TCPA and FDCPA filings, ACA International previously reported.

Gordon said in April the FDCPA filings increased 11.5 percent; FCRA filings increased 22.3 percent; and TCPA filings increased 1.7 percent from March.

In the April report, year-to-date filings (comparing filings from Jan. 1, 2018 through April 30, 2018 to filings from Jan. 1, 2019 through April 30, 2019) varied.

Results include:

  • A 8.3 % decline for the FDCPA from 3,167 in 2018 to 2,904 in 2019
  • A 5.3 % increase for the FCRA from 1,437 in 2018 to 1,513 in 2019
  • A 10.9 % decline for the TCPA from 1,287 in 2018 to 1,147 in 2019.

Read more findings in the complete WebRecon report here.

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