CFPB sees continued uptick in complaints, hitting a new monthly high

April and May brought the consumer financial protection agency some 42,400 and 44,100 complaints, respectively – the highest monthly complaint volumes in the agency’s history, its director said during a webinar Friday, who added that 7,200 of those included mentions of COVID-19-related terms.

Kathleen Kraninger, director of the Consumer Financial Protection Bureau (CFPB), said that out of the total complaints for those two months, 55% of consumers identified struggling to pay the mortgage as the issue. For credit card complaints, 23% of consumers identified a problem with purchase shown or statement as the issue.

She said that for credit or consumer reporting complaints, 55% of consumers identified a problem with incorrect information on their report as the issue, according to her published remarks before the Consumer Data Industry Association.

Last month, the bureau reported a total of 36,700 complaints received in March.

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