Here is the 7th in a number of reports that review complaints towards the CFPB. In this report we explore customer complaints about predatory loans, classified within the database as pay day loans, installment loans, and automobile name loans.

This will be our first are accountable to include an analysis of customer narratives or written explanations of dilemmas — an addition into the database we advocated for with Americans for Financial Reform and accomplished year that is last.

This report discusses pay day loan complaints from numerous perspectives:

• The sort of issue, such as for instance loan interest which wasn’t anticipated
• Complaints by business
• Whether and exactly how organizations taken care of immediately complaints

This report features a part showcasing the CFPB’s top achievements. We also provide a history for the battle to rein when you look at the predatory financing industry and talk about the importance of a guideline the CFPB is anticipated to finalize this season. More