How to Report Predatory Loan Apps in the US to the Consumer Financial Protection Bureau

What Is the CFPB?

The Consumer Financial Protection Bureau (CFPB) is the US government agency responsible for consumer protection in the financial sector. Unlike the UK's FOS, which resolves disputes, the CFPB collects complaints and forwards them to companies for response. It then publishes this data – helping identify problematic lenders through public transparency.

The CFPB sends more than 100,000 complaints about financial products and services to companies for response each week. Most companies respond within 15 days.

What Types of Loan App Complaints Does the CFPB Accept?

The CFPB accepts complaints about:

• Personal loans: Installment loans, advance loans, title loans
• Payday loans: Short-term high-cost loans
• Credit cards: Card accounts from any issuer
• Debt collection: Third-party collectors
• Money transfers: Including virtual currency services
• Credit reports: Disputes, errors, identity theft
• Vehicle loans: Car loans and leases

Step-by-Step: How to Submit a Complaint

Step 1: Gather Your Information

Before you start, collect:

• The lender's full name (as it appears on statements or communications)
• Your account number (if applicable)
• Your communication history with the company
• Key dates (when you borrowed, when issues started)
• Any documents that support your complaint (up to 50 pages)

Step 2: Go to the CFPB Complaint Portal

Navigate to consumerfinance.gov/complaint.

Step 3: Select the Product or Service

Choose the category that best matches your situation. If you are not sure, "Personal loan" or "Payday loan" are likely correct for loan app complaints.

Step 4: Tell Your Story – Be Clear and Concise

In your own words, describe the problem. The CFPB recommends including only the most important dates, amounts, and communications with the company. Do not write a novel – stick to the facts.

Example: "On [date], I borrowed $200 through the [app name] app. I received $150 after fees. I was told the APR would be 10%, but after adding fees, I calculated over 200% APR. The app continues to call me and my employer despite my request to stop."

Step 5: Attach Supporting Documents

Upload screenshots, emails, loan agreements, and any other evidence. Limit: 50 pages.

If you are submitting a complaint for someone else, note that companies generally require signed written authorization from their customer before responding to someone other than the customer.

Step 6: Provide Your Contact Information

The CFPB needs:

• Your name
• Your email address
• Your phone number
• Your address (without this, the company cannot respond)

Step 7: Submit and Track

Once submitted, you will receive email updates. You can check the status of your complaint online.

What Happens After You Submit?

The CFPB complaint process has five stages:

Stage 1: Complaint Submitted – You submit your complaint. You receive email updates.

Stage 2: Route – The CFPB sends your complaint directly to the company. If another government agency would be better suited to assist, the CFPB forwards it to them and notifies you.

Stage 3: Company Response – The company communicates with you as needed and responds. Companies generally respond in 15 days. In some cases, they may provide a preliminary response and a final response within 60 days.

Stage 4: Complaint Published – The CFPB publishes information about your complaint (without information that directly identifies you) in the public Consumer Complaint Database. With your consent, they also publish your description of what happened, after removing personal information.

Stage 5: Consumer Review – You receive the company's response and have 60 days to provide feedback about the response.

When the CFPB Is Not the Right Agency

If you suspect a scam, the CFPB recommends also contacting:

• Your local police or sheriff's office
• Your state attorney general
• The Federal Trade Commission (FTC) at ReportFraud.ftc.gov
• Adult protective services (for elderly or disabled victims)

If the victim is an older person or a person with a disability, contact your local adult protective services agency. You can find your state or local agency using the online Eldercare Locator or calling (800) 677-1116.