Study: CFPB complaints shattered records in 2020, exposing how the COVID-19 pandemic battered consumer finances

Confirmation of President Biden’s nominee Rohit Chopra will pivot agency back to only job: protecting consumers

WASHINGTON — Consumer complaints about problems with financial companies such as banks, credit bureaus and debt collectors rose by more than 50 percent in 2020 and set new records for each month of the year, according to a new report from the U.S. PIRG Education Fund. The report, Consumers In Peril, which analyzed complaints received by the Consumer Financial Protection Bureau (CFPB), was released Monday to kick off National Consumer Protection Week.

“Dave Uejio has acted swiftly to get the CFPB back on track to protecting consumers,” said Mike Litt, U.S. PIRG Education Fund’s consumer campaign director. “The next step is Senate confirmation of Rohit Chopra to direct the Bureau. Chopra helped build the CFPB from the start and he is the right person Americans need in the driver’s seat.”