CFPB annual report on military complaints
The CFPB released its 2022 Annual Report which highlights a number of complaints made by military personnel.
From the Executive Summary, the largest concern deals with payment apps:
- Servicemembers submit complaints related to payment apps at a higher percentage than the general population. In 2022, servicemembers submitted more than 1,100 payment app complaints, one of the fastest-growing complaint types submitted to the CFPB.
Other issues highlighted in the report:
- Credit or consumer reporting
- Debt collection
- Checking or savings accounts
- Credit cards
- Money transfer, money services, and virtual currencies
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