Commonwealth Financial Systems, Inc.

Report Card
D
Overall Grade
D
Debt Collection Grade
Commonwealth Financial Systems, Inc. is rated overall in the bottom 10 percentile (out of 100) based on 295 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits
Complaints Resolved in a Timely Manner98%
Resolutions Disputed by Customer36.3%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationNot Listed
EstablishedNot Listed
FDIC InsuredNot Insured
FDIC Certificate #
Number of BranchesUnknown
Total AssetsUnknown
Total DepositsUnknown
Total EquityUnknown
Quartarly Net IncomeUnknown

Contact Information

Corporate Headquarters
Not Listed
Website
Not Listed
Data Summary
Commonwealth Financial Systems, Inc. logo

Grade Summary

Overall, Commonwealth Financial Systems, Inc. received a grade of "D" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Commonwealth Financial Systems, and Inc. is rated "D" in Debt Collection. Click on any of the financial products to see how Commonwealth Financial Systems, Inc. compares.

Overview

Commonwealth Financial Systems, Inc. has received 295 consumer complaints since July, 2013 – more than 96% of other banks.

Of those complaints, 98% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Commonwealth Financial Systems, Inc. meets the 60-day response deadline less frequently than 54.7% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 36.3% of customers dispute Commonwealth Financial Systems, Inc.'s response to complaints — worse than 95.9% of other companies.

Most of Commonwealth Financial Systems, Inc.'s customers complain about debt collections with the primary issue being "cont'd attempts collect debt not owed."

Complaints by Product
Complaints by State
Complaints Against Commonwealth Financial Systems, Inc.
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Debt collectionMedicalCont'd attempts collect debt not owed75
2Debt collectionMedicalCont'd attempts collect debt not owed50
3Debt collectionCont'd attempts collect debt not owed43
4Debt collectionMedicalDisclosure verification of debt39
5Debt collectionOther (phone, health club, etc.)Cont'd attempts collect debt not owed23
6Debt collectionCommunication tactics19
7Debt collectionMedicalDisclosure verification of debt15
8Debt collectionMedicalCommunication tactics13
9Debt collectionDisclosure verification of debt12
10Debt collectionMedicalCont'd attempts collect debt not owed12
Responses From Commonwealth Financial Systems, Inc.
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation390385 (98.7%)159 (40.8%)
2Closed43 (75%)0 (0%)
Complaints over the Past Year