FDCPA, FCRA, and TCPA complaints increased in May, while CFPB complaints decreased, according to the latest report from WebRecon.
06/26/2024 3:00 P.M.
2 minute read
WebRecon’s latest report shows litigation increased in May for the Fair Debt Collection Practices Act, Fair Credit Reporting Act, and Telephone Consumer Protection Act, while Consumer Financial Protection Bureau claims fell.
FDCPA suits increased 25.4% from April 2024 to May 2024, FCRA cases increased 4.2%, TCPA cases increased 20.7%, and CFPB complaints decreased 5.8%, according to WebRecon’s findings.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for May 2024.
Fair Debt Collection Practices Act
FDCPA claims increased by 25.4% to 445 in May compared to 355 in April. Compared to claims from Jan. 1 through May 31, 2023, FDCPA claims increased 19.2%, from 1,623 to 1,935 during the same period in 2024.
Telephone Consumer Protection Act
TCPA claims increased 20.7%, with 163 claims in May compared to 135 claims in April. Compared to claims from Jan. 1 through May 31, 2023, TCPA claims increased 9.3%, from 708 to 774 during the same period in 2024.
Fair Credit Reporting Act
FCRA claims increased by 4.2% to 546 claims in May compared to 524 claims in April. Compared to claims from Jan. 1 through May 31, 2023, FCRA claims increased 23.3%, from 2,226 to 2,744, during the same period in 2024.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB decreased by 5.8% to 12,297 in May compared to 12,782 in April.
There were 5,960 complaints in May 2023 compared to the 12,297 complaints in May 2024—a 106.3% increase.
The types of debt behind the complaints were:
5,241 I do not know (43%)
2,181 Other debt (18%)
2,145 Credit card debt (17%)
773 Telecommunications debt (6%)
695 Rental debt (6%)
599 Medical debt (5%)
353 Auto debt (3%)
157 Payday loan debt (1%)
67 Mortgage debt (1%)
57 Private student loan debt (0%)
29 Federal student loan debt (0%)
The most common type of complaint was about attempts to collect debt not owed, at 45% or 5,517 complaints, followed by complaints about written notification about a debt at 39% or 4,778.
Read the complete WebRecon report here.
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