According to the report, credit reporting complaints made up 75% of the more than 800,000 complaints made by consumers last year to the Consumer Financial Protection Bureau.
“Consumers are complaining that the credit reporting system is stacked against them, because the credit reporting bureaus don’t listen, don’t fix mistakes and don’t reply to consumers at all,” Ed Mierzwinski, senior director of U.S. PIRG’s Federal Consumer Program, said.
Mierzwinksi, who wrote the report, found 69% of consumer complaints were against the big three credit bureaus: Transunion, Equifax and Experian.
Mierzwinkski said the increase in complaints is concerning because having a bad credit score can impact your ability to buy a house, secure a loan, or get a job.
“In this tough economy, you want your credit report to be accurate,” he said. “The consumers are saying, they’re not accurate. Consumers are saying, they’re not listening to me.”