Credit Cards

CFPB pins the tail of complaints squarely on credit reporting agencies

The agency wants people to complain because it helps it prevent issues from getting worse

How bad do consumers think credit reporting agencies are? Plenty bad. According to a new analysis by the U.S. PIRG Education Fund, complaints to the U.S. Consumer Financial Protection Bureau (CFPB) about credit reporting problems nearly doubled from 2021 to 2022.

At the top of this dubious list: the so-called “Big 3” credit bureaus -- TransUnion, Equifax and Experian. That trio received more complaints than any other financial firms in 2022 – 604,221 out of 3,420,113 tot...

03/16/2023 By Gary Guthrie

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Credit Cards

CFPB pins the tail of complaints squarely on credit reporting agencies

The agency wants people to complain because it helps it prevent issues from getting worse

Latest in Finance News

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Latest in Finance News

Recent Articles

The card company reports payments to credit agencies when they receive them on time

Filing a complaint with the FTC can go a long way

‘Friendly fraudsters’ are hurting consumers by forcing merchants to raise prices

You may be giving up consumer protections without a leg to stand on

The average credit card interest rate will likely hit another record high

More needs to be done to protect the consumer, the agency says

The company denies the charges, but some reviewers aren’t buying it

The move comes as credit card spending is increasing

Low bank account balances and high credit usage can mean trouble

Experts weighs out the pluses and minuses of different ways to tackle the situation

Consumers want more digital help to meet growing economic challenges

The bank reports that over 4,000 customers have moved from a secured credit card to a traditional credit card

Carrying a credit card balance is getting more expensive

The pandemic may have made the fees a heavier burden for businesses and consumers

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