CHICAGO — The Illinois Department of Financial and Professional Regulation (IDFPR) today announced the launch of a new online submission option designed to simplify and modernize the way Illinois consumers file complaints against financial institutions amid a federal step back in enforcement.
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For the first time, the portal will accept complaints for both the Division of Banking (DOB) and the Division of Financial Institutions (DFI), creating a unified and more accessible process for residents across the state.
“Consumer voices help us identify issues early so we can protect Illinois residents,” said IDFPR Secretary Mario Treto, Jr. “Modernizing our complaint process with a clear, online submission portal strengthens our ability to serve the public. These improvements are especially important as complaints continue to rise nationally and federal resolutions decline. IDFPR is stepping in to meet this moment.”
Rising Complaints Highlight Need for Modernization
The launch comes amid a significant rise in consumer financial complaints nationwide. According to the Consumer Financial Protection Bureau (CFPB), complaints to the CFPB more than doubled from 2.7 million in 2024 to 5.6 million in 2025. At the same time, the CFPB’s successful mediation rate dropped sharply from 49% in 2024 to less than 5% by November 2025.
Illinois has followed a similar trend. In 2025, Illinois consumers submitted 244,000 complaints to the CFPB, an increase of more than 120,000 from the previous year. Many of these complaints involve industries regulated by DOB and DFI, including debt collection, money transmitters, and mortgage originators.
Strengthening Oversight
IDFPR’s Divisions of Financial Institutions and Banking oversee a wide range of financial entities. DFI regulates credit unions, debt collectors, consumer installment lenders, money transmitters and enforces the 36% APR cap under the 2021 Predatory Loan Prevention Act. DOB regulates state chartered banks, student loan servicers, mortgage lenders and pawnbrokers.
By improving the complaint submission process, IDFPR aims to enhance its ability to identify industry issues, support voluntary mediation, and protect consumers in an increasingly complex financial environment.
“We want to help,” said Francisco Menchaca, Director of IDFPR’s Division of Financial Institutions. “If you have an issue with an entity, even if you’re not sure if they’re regulated by IDFPR, let us know.”
Consumers can access the updated complaint portal, learn more about the mediation process, and view the full list of regulated industries by visiting IDFPR’s complaint webpage.
