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CFPB’s Monthly Snapshot Highlights Debt Collection Complaints
On Tuesday, December 27, 2016, the CFPB released its Monthly Complaint Snapshot highlighting consumer complaints about debt collection, most commonly about attempts to collect debt the consumer claims is not owed. December’s report also highlighted complaint trends in Arizona, where debt collection complaints were most frequent, followed by mortgage-related complaints.
Nationally, again, the “most complained about companies” were not banks. As of December 1, 2016, the CFPB handled approximately 1,058,100 complaints across all products. Of those, 285,800 are debt collection complaints, which the Bureau began collecting on July of 2011.