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BofA Tops the Consumer Complaint List

“Major banks including JPMorgan Chase & Co. (JPM)Bank of America Corp. and Citigroup Inc. (C) were the subjects of the largest number of complaints to the U.S. Consumer Financial Protection Bureau in 2011, according to data obtained through a public records request.

Bank of America accounted for about 13 percent of the 13,210 complaints, mostly about credit cards, to the bureau between July 21 and Dec. 31, 2011. JPMorgan and Citigroup each accounted for about 11 percent, Capital One Financial Corp. (COF) represented about 8 percent, and Wells Fargo & Co. (WFC) accounted for about 5 percent. The number of complaints was roughly consistent with the size of the banks’ credit card business.”

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