Guardian Reports Significant Increase in Consumer Complaints Against Companies After Trump CFPB Dropped Lawsuits
A Guardian analysis of Consumer Financial Protection Bureau (CFPB) data reveals a dramatic increase in consumer complaints against financial firms after the Trump administration's CFPB dropped lawsuits against them. Across all banks and corporations named as defendants in these now-dropped suits, the number of complaints published to the agency’s public database surged by more than 75%. Specifically, 17 out of 23 financial firms saw an increase in complaints. For instance, complaints against Rocket Mortgage rose by over 130% in the year following the bureau's decision to drop a lawsuit accusing its sibling company, Rocket Homes, of using kickbacks to steer borrowers. Similarly, Branch Messenger Inc., which had been accused of collaborating with Walmart to collect over $10 million in unfair banking fees from delivery drivers, experienced a 315% increase in complaints after its case was dismissed.
