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Banks, Lenders High On FTC’s Consumer Complaint List

Banks received high rankings for the greatest number of consumer complaints in 2012, second only to identity theft. Based on the Federal Trade Commission’s annual report of complaints, the agency received more than 2 million complaints overall with banks and lenders accounting for 132,3406—or 6%—of them.

Complaints regarding banks and lenders rose in 2012 versus the previous year when they comprised around 90,000, or 5% of complaints overall and ranked lower, at No. 5.

In several states including Maryland, Minnesota and New Hampshire, banks and lenders received the top number of complaints.

Despite these categories ranking high on the list, identity theft has had the highest prevalence for 13 years straight, counting 18% relating to identity theft, with more than 43% of those relating to tax- or wage-related fraud, according to FTC’s data.

View the report.

Written by Elizabeth Ecker