This story appeared in Bank Digest.
The most common debt collection complaint made to the Consumer Financial Protection Bureau is about attempts to collect on a debt that the consumer said was not owed, according to the bureau's latest monthly complaint snapshot. This month's report also highlights trends seen in complaints from consumers in Florida.
Debt collection has been the most-complained-about financial product to the CFPB, with approximately 219,200 complaints submitted as of March 1, 2016. This represents 26 percent of the total complaints submitted.
As of March 1, 2016, consumers in Florida have submitted 80,200 of the 834,400 complaints the CFPB has handled nationally. Complaints from the three largest metro areas in Florida--Miami, Orlando, and Tampa Bay--accounted for nearly 60 percent of the complaints submitted from the state. Mortgages are the most-complained-about product in Florida, accounting for 30 percent of all complaints.