📌 By the Numbers
- 350,000+ complaints handled by local and state agencies in 2024
- $890+ million in relief recovered for consumers
- Auto sales and repair ranked as the #1 complaint category for the 9th straight year
🔎 Why it matters: The Consumer Federation of America (CFA) has released its 2024 Consumer Complaint Survey Report, spotlighting the top issues plaguing consumers across the country. While auto-related complaints remain the most frequent, “Consumer Credit” issues, which include complaints about debt collection, credit reporting, and other financial services, secured a spot in the top five.
🏦 Consumer credit under the microscope: Complaints related to lending, collections, and credit reporting highlight ongoing tension between consumers and financial service providers. Among the reported cases:
- In Arkansas, a consumer paid more than double a $3,000 loan amount with almost no principal reduction. After intervention from the state AG’s office, the remaining balance, which was more than $7,300, was waived.
- In Georgia, a debt relief company was hit with a $10,000 penalty and banned from offering services after allegedly misleading consumers about student loan forgiveness and violating the Debt Adjustment Act.
- In North Carolina, consumers who financed non-functioning solar panels were provided relief options after lenders were contacted by regulators.
- In California, a homeowner facing foreclosure was helped by a housing counselor who intervened after a mortgage servicer denied access to workout options.
💬 What they’re saying: CFA Director of Consumer Protection Erin Witte noted, “As the current presidential administration dismantles essential federal consumer protections, it is impossible to overstate the importance and utility of these state and local agencies.”
🧭 The big picture: This annual report is more than a list of grievances; it serves as a roadmap for policymakers and advocacy groups targeting market abuses. The report underscores the crucial role that local consumer protection offices play in an era of shifting federal priorities.
📋 Other notable complaint categories
- Retail purchase issues
- Home improvement contractors
- Landlord/tenant disputes
- Frauds and scams
- Healthcare billing problems
- Robocalls and deceptive telemarketing pitches
💡 Between the lines: While medical billing and landlord/tenant issues are tracked separately, many complaints tied to consumer credit originate from these areas—especially where debts stem from surprise bills or unresolved utility disputes.
