CFPB says NH leads country in mortgage complaints
database to include state-by-state information.
The top states per capita for mortgage complaints are, in order: New Hampshire, Maryland, the District of Columbia, Georgia and Florida.
And the top states per capita for bank account and service complaints are the District of Columbia, Delaware, New Jersey, Rhode Island and Maryland.
According to a Consumer Financial Protection Bureau statement, the database expanded in March from more than 19,000 credit card complaints to nearly 90,000 complaints on credit cards, mortgages, student loans, bank accounts and services, and other consumer loans, like auto loans.
The live database updates nightly, so as the CFPB handles more complaints, more are added.
"This data puts valuable information in the hands of consumers to help them understand what is happening in their states," said CFPB Director Richard Cordray. "And by adding credit reporting and money transfer complaints to the Consumer Complaint Database, we are making these important markets more transparent and accountable to all consumers."
The database allows the public to see what consumers complained about and why. It includes the type of complaint, the date of submission and the company that the complaint concerns. Consumers are not identified.
"The CFPB uses the complaints along with other information, such as the timeliness of the company's response, in a variety of ways, for example, to help prioritize complaints for investigation," Cordray said.
"Industry commenters generally opposed the inclusion of additional complaint data in the public database, and reiterated opposition to the database itself," according to the policy statement on the CFPB website. "Although they endorsed the intended goals of the public database, many industry commenters asserted that the database would confuse consumers and unfairly damage the reputation of companies."
Consumers can submit a complaint online at consumerfinance.gov; call toll-free at 855-411-2372; fax 855-237-2392; or mail to Consumer Financial Protection Bureau, Box 4503, Iowa City, Iowa 52244.