Consumer Complaints About Bank Accounts Fall by Double Digits
June 29, 2015
The complaints that consumers submitted to the CFPB about their bank accounts fell substantially, quarter to quarter and year over year, the latest analysis by Inside the CFPB reveals. Among all companies, consumer gripes were down 19.1 percent in the first quarter versus the fourth quarter, and off 13.7 percent from the same period the year before. Not surprisingly, a similar trend was obvious among the top three lenders. For instance, Wells Fargo saw consumer criticisms fall 11.1 percent QoQ and 28.4 percent YoY. For Bank of America, the drop-offs were 21.3 percent and 22.2 percent, respectively. JPMorgan Chase had declines of 11.3 percent on a quarterly basis and 16.3 percent on a yearly basis, while fourth-ranked U.S. Bancorp had ...