FDCPA, FCRA, and CFPB complaints increased in April, while TCPA complaints decreased, according to the latest report from WebRecon.
06/11/2024 3:00 P.M.
2 minute read
WebRecon’s latest report shows litigation increased in April for the Fair Debt Collection Practices Act, Fair Credit Reporting Act, and Consumer Financial Protection Bureau, while Telephone Consumer Protection Act claims fell.
FDCPA suits increased 12.7% from March 2024 to April 2024, FCRA cases increased 12.7%, TCPA cases decreased 2.9%, and CFPB complaints increased 2%, according to WebRecon findings.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for April 2024.
Fair Debt Collection Practices Act
FDCPA claims increased by 12.7% to 355 in April compared to 315 in March. Compared to claims from Jan. 1 through April 30, 2023, FDCPA claims increased 15.2%, from 1,293 to 1,490 during the same period in 2024.
Telephone Consumer Protection Act
TCPA claims decreased 2.9%, with 135 claims in April compared to 139 claims in March. Compared to claims from Jan. 1 through April 30, 2023, TCPA claims increased 26.2%, from 484 to 611 during the same period in 2024.
Fair Credit Reporting Act
FCRA claims increased by 12.7% to 524 claims in April compared to 465 claims in. Compared to claims from Jan. 1 through April 30, 2023, FCRA claims increased 27.4%, from 1,725 to 2,198, during the same period in 2024.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB increased by 2% to 12,782 in April compared to 12,540 in March.
There were 5,580 complaints in April 2023 compared to the 12,792 complaints in April 2024—a 129.2% increase.
The types of debt behind the complaints were:
6,335 I do not know (50%)
2,151 Credit card debt (17%)
1,683 Other debt (13%)
758 Telecommunications debt (7%)
645 Rental debt (5%)
584 Medical debt (5%)
353 Auto debt (3%)
152 Payday loan debt (1%)
54 Mortgage debt (0%)
41 Private student loan debt (0%)
36 Federal student loan debt (0%)
The most common type of complaint was about attempts to collect debt not owed, at 43% or 5,549 complaints, followed by complaints about written notification about a debt at 40% or 5,068.
Read the complete WebRecon report here.
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