Cryptocurrency complaints to rise by 5,971%, yet stay proportionally small

Posted On 06 Sep 2017

Tag: CFPB data, Cryptocurrency complaints, LendEDU

Cryptomarkets week in review Hoboken, New Jersey, US-based student loans and student loan refinance marketplace LendEDU shared with CoinReport its analysis of the Consumer Financial Protection Bureau (CFPB) data for cryptocurrencies, according to which the cryptocurrency complaints filed with the CFPB will likely be 425 in total in 2017, up 5,971 percent from the seven complaints filed in 2016.

So far in 2017, LendEDU has identified 277 complaints labeled under cryptocurrency, with the digital currency transactions accounting for 0.0019 percent of the total complaints received by the CFPB.

LendEDU pulled the CFPB Consumer Complaint Database on August 26, 2017, and found a total of 145,948 complaints from 2,731 different companies. Before that, they analyzed the public CFPB Complaint Database collection of over 689,000 complaints sent to almost 3,000 different companies.

The full report by LendEDU can be read here.

Image – File photo

About the Author

Tabish has been writing/editing professionally for over a decade. Louisiana Department of Education taught one of his articles to students of its career diploma course 'Film in America' after adding the article in its comprehensive curriculum. Tabish is the Publishing Editor for CoinReport and believes Bitcoin has a great future. Follow Tabish on Twitter @tabishfaraz1

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