The Consumer Financial Protection Bureau, also known as the CFPB, maintains a database, tracking complaints it receives about financial products and services. The Texas Public Interest Research Group, or TexPIRG, analyzed the bureau’s findings on credit card complaints.
The group found that Texas ranked fourth in terms of the overall number of reported problems, behind California, Florida and New York. Measured in terms of complaints per 100,000 residents, though, Texas came in 33rd out of all 50 states plus the District of Columbia. Sara Smith is program director for TexPIRG.
“People in Texas and in the South generally just don’t know about the CFPB. There’s not been as much publicity about it.”
Among major credit card providers, Capital One topped the list as a source of consumer complaints in 43 states, Texas included.