Consumer Complaints about Credit Reporting Fall From Year Ago
June 1, 2015
Consumer complaints about credit reporting pretty much remained flat in the first quarter of 2015 from the fourth quarter of 2014 – up a scant 0.5 percent during that period – but dropped 11.0 percent overall from year-ago levels, a notable decline. An analysis of the CFPB’s consumer complaint database by Inside the CFPB found that each of the big three credit reporting firms – Experian, Equifax and TransUnion – saw declines year over year. Experian turned in the best performance of the three, however, seeing a drop of 18.4 percent. TransUnion was the only one of the big three to see a decline in both periods.Among specific complaints, “incorrect information” continues to represent the lion’s share of negative consumer feedback ... [with exclusive data chart]