Illinois Consumers Complain About Capital One


Are some credit agencies more frustrating for Illinois consumers than others?  Surely, many debt collection agencies like Calvary SPC or LVNV Funding cause Chicago debtors to worry about making payments on debts and being sued for money they owe.  But what about credit card companies?  A recent report from Illinois PIRG suggests that Capital One is actually the “most-complained about credit card company in Illinois.”
Have you been harassed by a credit card company?  Have you been targeted by a collection agency that employs deceptive or unfair collection practices?  Many Illinois residents deal with the ramifications of consumer fraud an abusive debt collection practices everyday.  At the Emerson Law Firm, we are committed to assisting people in the Chicago area with consumer protection matters.  Contact us today to talk with an experienced consumer protection attorney.
Consumer Financial Protection Bureau Assists Illinois Residents
Illinois PIRG’s report stems from data collected through the Consumer Financial Protection Bureau’s (CFPB) Public Consumer Complaints Database.  According to Dev Gowda, an advocate for the Illinois PIRG Education Fund, “the CFPB is empowering consumers to demand accountability from their credit card companies.”  With support from the CFPB, consumers who have been “ripped off by junky credit card add-ons or unfair billing disputes have somewhere to turn.”
Referring to the recent Illinois PIRG report on credit cards, consumer complaints, and the utility of the CFPB’s consumer complaint database, U.S. Representative Jan Schakowsky from Illinois emphasized how the CFPB has begun to empower consumers in Chicago and across the country.  According to Schakowsky, Illinois PIRG’s report “shows the customer service records of major credit card companies, the CFPB’s progress in addressing misconduct, and also opportunities for improved oversight.”  In other words, the CFPB’s consumer complaint database is “a tool every consumer should consider before activating a new credit card.”
Details of the Illinois PIRG Report on Credit Cards
This recent report is one in a series created by the Illinois PIRG that analyses complaints collected in the CFPB’s consumer complaints database.  According to a news release from Illinois PIRG, the CFPB has been “accepting complaints about credit cards since July 2011, and has expanded since then to accept complaints about a variety of products and services.”  With years of complaints collected that concern credit card companies and credit card terms, Illinois PIRG’s report has made findings from a substantial amount of data.
The report emphasizes some of the following matters:
·      Illinois residents have lodged the highest number of credit card complaints against Capital One.  Even across the country, Capital One “generated the most complaints overall.”
·      Consumers complain most frequently about billing disputes, which totaled 16 percent of all complaints.  Issues with APR and interest rates had the second-highest percentage of complaints, totaling 10 percent.  Matters of fraud, embezzlement, and identity theft made up 7 percent of all consumer complaints.
Since beginning enforcement actions of the 2009 Credit CARD Act in 2012, the CFPB has addressed consumer concerns such as penalty fees, unfair interest rate increases, and credit card add-ons.  It has instituted actions against such credit card companies as Capital One, Discover, American Express, GE Capital Retail, and Chase.  And its enforcement actions have been successful, providing more than “$800 million in refunds to consumers.”
If you have a complaint against a credit card company, you may be able to seek compensation.  Contact an experienced Illinois consumer protection lawyer today to learn more.
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