The Consumer Financial Protection Bureau
FINANCIAL PRODUCTS and services are part
of our daily lives, from the debit and credit cards
we use for everyday purchases, to mortgages,
student loans, credit reporting, debt collection
and more. Paying close attention and being in
the conversation about these products and services protects your wallet.
©AMANDA HOROWITZ MEDIA, LLC
The Dodd-Frank Wall Street Reform and
Consumer Protection Act, a law passed in the
aftermath of the financial crisis of ;;;;–;;;;,
created a new federal agency to stand up for consumers in the financial marketplace. The
Consumer Financial Protection Bureau (CFPB;
consumerfinance.gov) handles complaints
about problems with financial companies, creates new consumer protections for financial
products and services, develops useful tools and
resources, and holds bad actors accountable for
breaking the law.
Get answers to money questions. The CFPB
website provides tips and tools that can help you
navigate financial choices and reach goals. If
you’re taking out a loan for college, buying your
first home, planning for retirement or teaching
your child how to make smart financial decisions, the CFPB can help you understand how to
go about the process, what questions to ask and
where to get good, unbiased information.
The CFPB also has offices and information
to help students, seniors, and veterans and service members navigate financial challenges.
Click on “Consumer Tools” on the CFPB website for more information.
David Horowitz is a leading
consumer advocate. David’s
daughter Amanda Horowitz
is the CEO of Fight Back! and
co-founder of FightBack.com.
You’ll also find information on credit cards,
debt, retirement, credit reporting, long-term
money management and financial scams on the
CFPB’s social media outlets: @CFPB (Twitter),
youtube.com/user/cfpbvideo (YouTube) and
MORE IN ARCHIVES
search “Consumer Connection.”
When companies and individuals break the
law, the CFPB can take action. In the last five
years, the CFPB’s enforcement and supervision
work has resulted in nearly ;;; billion in relief
for more than ;; million harmed consumers.
Please note we are not licensed
professionals in any field. If you are
seeking advice you should consult
with your own licensed professional.
We do not assume any liability or
responsibility for the interpretation,
application or accuracy of any
The CFPB has taken action against credit
card companies over deceptive advertising,
misleading telemarketing and sales tactics, and
unfair or illegal billing practices. It has pursued
mortgage servicers for misconduct and discriminatory lending practices, and it’s taken
action against financial institutions illegally
charging overdraft fees and deceptively marketing “free” checking accounts to consumers.
Auto financing companies, payday and installment lenders, debt collection and debt relief
services, and even wireless providers have been
held accountable for wrongdoings.
Submit a complaint. If you’re having a problem with your bank or a financial company, you
can submit a complaint to the CFPB online or
call ;-;;;-;;;-;;;; toll-free and they will work to
get you a company response, usually within ;;
days. The CFPB accepts complaints about mortgages, credit cards, bank accounts, student
loans and other financial products or services.
When you submit your complaint, you can also
choose to authorize the CFPB to publish your
complaint narrative in its public consumer
complaint database (consumerfinance.gov/
Here’s more on how the CFPB can help you.
Blow the whistle. If you have information
about a company that you think has violated federal consumer financial laws and you’re a current
or former employee of that company, an industry
insider or a competitor being unfairly undercut,
the CFPB accepts anonymous whistleblower
information at ;-;;;-;;;-;;;;, toll-free. You may
also email email@example.com.
To learn more, visit consumerfinance.gov/
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Make your voice heard. The CFPB develops
new consumer protections and implements and
enforces federal consumer financial laws. The
CFPB’s rule-making process is data driven and
informed by public input. You can help the
CFPB help you by submitting comments and
reviewing others’ comments on a wide variety of
topics and proposed rules that inform the
bureau’s work; click “Policy & Compliance” on
The CFPB works to make sure banks, lenders and other financial companies treat consumers fairly. Consider it a useful resource to
help you protect your finances. C
2/21/17 8:35 AM