Complaint Database for Credit Card Companies Unveiled

The U.S. Consumer Financial Protection Bureau (CFPB) released a complaint database on its website that allows consumers in the market for a new credit card to find out which companies received the most complaints.

The database is available at consumerfinance.gov and so far has collected 137 complaints or about a month’s worth since June 1, according to Reuters.

The bank with the most complaints when the database debuted was Capital One Financial Corp., followed by Citigroup Inc., JPMorgan Chase & Co., and Bank of America Corp. The data base and its rankings will continue to evolve as new information is received and added to it.

"Consumers can look at this data and can fairly draw the conclusion that if they engage in a financial relationship with the company this is what they can expect," Scott Pluta, assistant director of the CFPB‘s Office of Consumer Response, told Reuters.

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