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Consumer complaints up in Colorado, Wyoming and Alaska

Posted by Clyde Hutchins | Oct 11, 2016 | 0 Comments

The Consumer Financial Protection Bureau (CFPB) recently released a report about complaints that it receives from consumers. The CFPB is a consumer protection agency that focuses on consumer financial issues, like debt collection, mortgages, pay day lending, and auto loans. Interestingly, the CFPB found that complaints rose significantly from consumers in Colorado, Wyoming and Alaska. The increases were over 20% for each state. Many of the readers of this blog reside in these states, and I am licensed in all three of these states.

The CFPB also noted that the most complained about companies were the three major credit reporting agencies (Experian, Equifax and TransUnion). The report noted that: "Complaints about the use of consumer and credit reporting data for account screening are increasingly common. Consumers frequently mention learning of a furnisher's past negative reporting to both specialty checking account reporting and national credit reporting companies when they attempt to open a new bank account. Consumers also express concern over the difficulty that they have addressing potential errors on their reports."

During the period covered by the report, there were 2,611 complaints about credit reporting companies made by Coloradans, 176 complaints by Wyomingites and 180 complaints by Alaskans. This is much larger than I realized. I handle some of these complaints and have heard many stories about these types of problems, but had no idea that the problem was this large. Consumers facing problems with credit reporting agencies and furnishers may have recourse under the Fair Credit Reporting Act, and if the furnisher is a debt collection agency, the Fair Debt Collection Practices Act. Both acts provide for the recovery of attorneys fees and costs, so Harmony Law can handle some of these cases on a contingency basis. If you are facing issues with errors on your credit report, please feel free to contact Harmony Law. We may be able to help.

About the Author

Clyde Hutchins

Clyde Hutchins is the founder of Harmony Law. Prior to opening Harmony Law, Mr. Hutchins worked in the Wyoming Attorney General's Office for several years where he developed a strong consumer protection enforcement unit. In that position he led over 120 investigations and enforcement actions under the Consumer Protection Act. He worked on numerous joint cases with the Federal Trade Commission and other states, including Colorado, on consumer protection matters. Mr. Hutchins is also a contributing author to Consumer Protection Law Developments, Second Edition. Previous to his work in the Attorney General's Office, Mr. Hutchins was in private practice in Anchorage, Alaska where he was the chief litigator for a firm. Mr. Hutchins represented municipalities on various matters. Mr. Hutchins provided counsel to businesses and investment advisors regarding compliance with securities laws. He was also a bond lawyer and worked on municipal financing matters. Prior to that, Mr. Hutchins practiced civil litigation with a law firm in Cheyenne, Wyoming. Mr. Hutchins devotes his spare time to his family, traveling and enjoying the great outdoors.

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Harmony Law is one of the few law firms in Colorado and Wyoming that focuses on consumer law. Mr. Hutchins is a member of the National Association of Consumer Advocates and state chair for Wyoming. If you have a consumer law issue, please feel free to call 970-488-1857 and speak with Mr. Hutchins.

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