Alert May 14, 2013

CFPB Publishes “Snapshot” of Servicemember Complaints

The CFPB's Office of Servicemember Affairs released its Semi-Annual Complaint Report providing a "snapshot" of the complaints it has received from servicemembers, veterans, or their spouses and dependents from January 1, 2012 through December 31, 2012. The report noted that mortgage-related issues, (e.g., loan modification, collection and foreclosure), credit card, and credit reporting issues (e.g., inaccurate information on credit report) were most frequently the subject of complaints; while vehicle or consumer loan issues were least frequently the subject of complaints by servicemembers.