Consumer complaints to the CFPB are skyrocketing

Source: Andrew Keshner, MarketWatch (Paid Registration)

Americans filed a record-breaking number of complaints to the Consumer Financial Protection Bureau in March as the coronavirus pandemic started flooding hospitals and sending unemployment rates soaring. The CFPB received 29,494 complaints in March about various sorts of alleged consumer mistreatment—that number climbed to 37,926 by June.

Every month since, consumer complaint numbers have been breaking record highs set the previous month, according to a Friday report from the consumer advocacy group U.S. PIRG and the Frontier Group, a left-leaning think tank.

The Trump administration “doesn’t want to admit how bad the economy is, just like they don’t want to admit how bad the pandemic is,” said one of the report’s authors, Ed Mierzwinski, senior director, federal consumer program at U.S. PIRG.

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