Consumer Finance Accountability Dataset

Columns

• Date received: The specific date on which the consumer submitted the complaint.
• Product: The broad category of the financial product or service involved (e.g., Credit reporting or other personal consumer reports).
• Sub-product: A more specific classification of the product (e.g., General-purpose credit card).
• Issue: The primary grievance or problem identified by the consumer (e.g., Incorrect information on your report).
• Sub-issue: Detailed context regarding the specific problem (e.g., Information belongs to someone else).
• Company: The name of the financial institution or entity the complaint is lodged against (e.g., EQUIFAX, INC.).
• State: The US state code where the consumer resides (e.g., FL, TX).
• ZIP code: The postal code associated with the consumer's location.
• Submitted via: The channel used to submit the complaint (predominantly Web).
• Date sent to company: The date the complaint was forwarded to the company for a response.
• Company response to consumer: The status or type of response provided by the company (e.g., In progress, Closed with explanation).
• Timely response?: A boolean indicator confirming if the company responded within the required timeframe.
• Consumer disputed?: Indicates whether the consumer disputed the company's response (Data shows N/A for this sample).
• Complaint ID: A unique numerical identifier assigned to each specific complaint record.

Distribution

• Format: CSV
• Size: 590 valid records
• Structure: Tabular data containing 14 columns detailing complaint logistics, categorization, and resolution status.
• Update Frequency: Generally updated on a daily basis to maintain a current record of consumer issues.

Usage

• Market Research: Analysing common pain points in financial products like credit reporting and debt collection.
• Regulatory Monitoring: Tracking company responsiveness and adherence to timely resolution standards.
• Consumer Advocacy: Identifying trends in financial grievances to support policy changes or consumer education.
• Risk Management: Assessing the volume and nature of complaints against specific institutions to gauge reputational risk.

Coverage

• Geographic: United States (Specific data points include states such as Florida and Texas).
• Time Range: The sample data covers the period from 29 April 2024 to 01 July 2024.
• Demographic/Scope: Covers consumers of financial products interacting with major institutions (assets > $10 billion); excludes complaints referred to other regulators.

License

Who Can Use It

• Policymakers: To understand systemic issues in the financial sector.
• Researchers: For academic analysis of consumer behaviour and market trends.
• Financial Institutions: To benchmark performance and identify areas for service improvement.
• Consumers: To review complaints and company responses before engaging with financial services.

Dataset Name Suggestions

• US Consumer Financial Complaints Ledger
• Financial Market Grievance & Response Data
• Banking and Credit Reporting Issues Tracker
• Consumer Finance Accountability Dataset

Attributes