December 25, 2014
In this exclusive in-depth analysis, a banking domain expert sat down with an analytics team and analyzed 3 years data of U.S. Consumer financial Protection Bureau (CFPB) of consumer complaints to understand the service levels in financial services. We bring to you this exclusive piece of information with points 1 to 4 on Macro level analysis and points 5 to 8 on Micro level analysis. It covers all types of financial services products from Bank Accounts to Credit Cards and from Mortgage to Money Transfers.
1.) Which states filed the most complaints?
The state of California filed the most number of complaints at around 46,000 in 2014. California was followed by Florida which filed around 30,000 complaints. This was followed by New York and Texas, both having filed around 20,000 complaints. The interactive chart below gives more insights on the same:
Note: Click here to see the interactive chart
2.) Highest number of complaints were in Mortgage product, across 2012, 2013, 2014 and least in the case of money Tr ...