The Public Interest Research Group in Michigan (PIRGIM) has found that Michigan consumers have more complaints about Capital One than any other credit card company.
This finding is from its new report, which examined data from the Consumer Financial protection Bureau's (CFPB) public Consumer Complaints Database.
Overall, the report found that Michigan consumers are 37th most likely to file credit card complaints. When they do complain, it is most often about Capital One. That company had the most complaints in Michigan and 42 other states.
Citibank received the most complaints in six other states and in Washington D.C., and in Alaska people complained about Bank of America Most often.
The issues that consumers complained about included billing disputes, difficulties with interest rates, and issues with identity theft, fraud and embezzlement. Almost 40 percent of complaints made to the CFPB resulted in tangible relief. In total, the CPFB has helped nearly 10,000 customers resolve credit card issues.
The CPFB is designed to be a resource for dissatisfied credit card users. It has been accepting complaints about credit cards since July 2011, and has since expanded to include a number of other financial products and services.
"The CFPB is empowering consumers to demand accountability from their credit card companies," said Eric S Mosher, Program Associate for PIRGIM Education Fund. "Finally, consumers ripped off by junky credit card add-ons or unfair billing disputes have somewhere to turn."
This report by the PIRGIM Education Fund is the fourth in a series that analyzes CFPB complaints. The full report can be found here.
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