CFPB Releases Report about Credit Bureau Complaint Responses

The CFPB recently released a report about the consumer complaint response rates of the big three credit bureaus, Equifax, Experian, and TransUnion. The report notes that the bureaus reported relief in response to less than 2% of complaints, which is down from a 25% relief rate in 2019. 

Between January 2020 and September 2021,  50% of the complaints received by the CFPB, were regarding the credit bureaus, amounting to over 700,000 complaints. Most of the complaints were about inaccurate information and allegations of identity theft.