By the Numbers - Mar. 10, 2014
14,100
The number of complaints from military consumers received by the Consumer Financial Protection Board (CFPB) from July 21, 2011 through February 1, 2014, according to a report released last week (PDF) by the CFPB.
The report indicates that, overall, mortgage issues generated the most complaints. However, the CPFB notes that since it began accepting complaints about such things as debt collection and payday loans last year, "debt collection has quickly become the highest volume complaint category for military consumers."
Said Holly Petraeus, the CFPB's director of service member affairs, in a blog post:
14,100. Sounds like a random number, doesn’t it? But to us, 14,100 represents the number of servicemembers, veterans and their family members whose stories have come to us through their consumer complaints.
I emphasize the word “stories” because each complaint is much more than a case number. Behind those case numbers are servicemembers with questions about mortgages, military spouses seeking to invoke consumer legal protections on behalf of their deployed spouse, veterans desperately fighting scams that threaten to steal their retirement income, and many more members of the military community with compelling, sometimes heartbreaking, real-life stories.
14,100
The number of complaints from military consumers received by the Consumer Financial Protection Board (CFPB) from July 21, 2011 through February 1, 2014, according to a report released last week (PDF) by the CFPB.
The report indicates that, overall, mortgage issues generated the most complaints. However, the CPFB notes that since it began accepting complaints about such things as debt collection and payday loans last year, "debt collection has quickly become the highest volume complaint category for military consumers."
Said Holly Petraeus, the CFPB's director of service member affairs, in a blog post:
14,100. Sounds like a random number, doesn’t it? But to us, 14,100 represents the number of servicemembers, veterans and their family members whose stories have come to us through their consumer complaints.
I emphasize the word “stories” because each complaint is much more than a case number. Behind those case numbers are servicemembers with questions about mortgages, military spouses seeking to invoke consumer legal protections on behalf of their deployed spouse, veterans desperately fighting scams that threaten to steal their retirement income, and many more members of the military community with compelling, sometimes heartbreaking, real-life stories.