Last week, some Wells Fargo customers were suddenly unable to access deposits in their bank accounts, the second time such an incident has occurred this year. A wave of complaints flowed in, reflecting recent frustration around financial groups.
that more people have lost more money to scammers than ever before — with reported consumer losses to fraud totaling $8.8 billion in 2022, a 30% jump compared with 2021.In general, it has never been more difficult for customers to get a timely response from their financial institutions, experts said.
"It's the continual push to cut costs," McBride said."Customer service is seen as a cost center, as opposed to a revenue enhancer. And companies can get away with it.""We take customer complaints very seriously and when issues are raised, we act quickly to resolve them," the company said, adding that the overall volume of customer complaints it received directly was"down considerably since 2019.
Created in 2011 to resolve customer disputes with banking and financial firms, the CFPB can intervene for individuals and groups, but results can take time.
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