The CFPB recently released its first in-depth report regarding complaint submission patterns by demographic and socio-economic groups. To prepare the report, the CFPB matched consumer complaint data to census tract-level data. The findings are based on the nearly one million consumer complaints submitted to the CFPB between 2018 and 2020.
Overall, the report finds that the experiences and concerns of communities, with respect to consumer financial products and services, vary by race and wealth. Key findings of the report also include: