MADISON, Wis. (WSAU) -- A new report shows Wisconsinites have plenty to complain about when it comes to credit card companies.
Consumers file more complaints about Capital One than any other credit card company according to a report from the WISPIRG group in Madison. The non-profit took a look at publicly released data from the Consumer Financial Protection Bureau’s (CFPB) public Consumer Complaints Database to compile their report.
Capital One topped the list with over 5200 complaints, followed by Citibank and Bank of America. Bruce Speight from WISPIRG says federal officials have been doing more to help consumers since the CFPB was created. "They brought some of the major credit card companies to heel by addressing some of the deceptive addon on products the companies were luring consumers into. And they have recovered over 800 million dollars in refunds to consumers."
Mistakes and errors on credit cards can be a major problem for consumers, and Speight says there are remedies in place thanks to government regulations. "So it's important that consumers have a way to seek resolution with credit card companies when there are problems or mistakes made. And that's what the Consumer Financial Protection Bureau is doing."
The report showed that consumers were most likely to complain about billing disputes, followed by difficulties with APR or interest rates and trouble with identity theft, fraud, and embezzlement.
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