Exactly three years ago, we introduced an Interactive Dashboard that broke down CFPB complaints across a variety of metrics (by state, by type of complaint, etc.).
We recently updated the dashboard and published it below. The dashboard includes a company-by-company analysis of response times to complaints to the CFPB. Users can select a company from the pull-down menu. Then, using the dot-plot, you can compare that company to any of the more than 81,000 companies in the CFPB database in terms of timely response to complaints. As you work with the dot-plot, remember that blue is positive, meaning timely responses, and orange is negative.
Users can also do a deep dive on a company’s performance relative to a number of factors:
- Total number of complaints
- Complaints over time
- Percent of complaints that are responded to in a timely manner (i.e. within 30 days)
- Breakdown of product type (i.e. mortgage, debt collection)
- Source of complaint
As of this date, more than 1,000,000 complaints have been filed with the CFPB. In terms of complaint distribution by product type, the top categories are:
- Mortgage: 25.1%
- Credit Reporting: 24.0%
- Debt Collection: 19.1%
- Credit Card or Prepaid Card: 11.4%
- Checking or Savings Accounts: 10.3%
In terms of performance, 97.3% of these 1MM+ complaints have been responded to in a timely manner (within 15 days-with possible extensions to 45 days).
A few notables include:
- Citibank, one of the country’s largest financial institutions, responded to an impressive 99.1% of its 41,000+ complaints in a timely manner
- We thought it would be interesting to look at relatively new, San Francisco-based virtual currency broker Coinbase. A little over 2,100 complaints were filed with CFPB against Coinbase. But the company would appear to be highly engaged as they responded to 99.8% of those complaints on a timely basis.
- Innovative debt collection company TrueAccord had a 100% timely response rate to the 79 complaints filed against them with the CFPB.
We will be updating this dashboard on a bi-weekly basis.