Executive Overview: Predatory Loans & Predatory Loan Complaints
This is actually the 7th in a number of reports that review complaints to your CFPB. In this report we explore customer complaints about predatory loans, classified when you look at the database as payday advances, installment loans, and automobile name loans.
It is our very very first are accountable to integrate an analysis of customer narratives or written explanations of dilemmas — an addition towards the database we advocated for with Americans for Financial Reform and accomplished year that is last.
This report looks at payday loan complaints from numerous perspectives:
- The kind of problem, such as for example loan interest which wasn’t anticipated https://www.speedyloan.net/title-loans-ok/
- Complaints by business
- Whether and exactly how businesses taken care of immediately complaints