CFPB Report Highlights 99% Timely Response to Complaints in 2020

The Consumer Financial Protection Bureau reported that banks and other companies responded in a timely manner to 99% of complaints submitted through the bureau in 2020, according to its 2020 Consumer Response Annual Report. The report, which the bureau is required to submit to Congress by March 31 of each year, provides aggregate totals of complaints submitted, as well as breakdowns of complaints by the type of product complained about.

Amid the pandemic, the CFPB said it received approximately 32,100 complaints that referenced the coronavirus or related keywords in 2020.