Analysis

CFPB’s consumer complaint database

Deloitte’s analysis reveals valuable insights

With the Dodd-Frank Act’s creation of the Consumer Financial Protection Bureau (CFPB) in 2010, a new era in consumer protection began. How can financial institutions turn what they hear from the CFPB’s consumer complaint database into a business advantage?

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Learn more about trends discovered in the complaints database and ways to address them.


Deloitte’s analysis of the CFPB’s consumer complaint database has produced a number of valuable insights about the nature and sources of recent complaints, including:

  • Troubled mortgages are behind the majority of the complaints – a growing trend
  • Customer misunderstanding may create more complaints than financial institution error
  • Affluent, established neighborhoods were more likely sources of complaints
  • Complaint resolution times have improved
     
     

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Kenny M. Smith

Vice Chairman | Banking & Securities Sector Leader