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How The CFPB Works

Monday, November 25, 2013 - 10:22 AM
From Yahoo Finance:
More than 230,000 complaints have poured into the fledgling Consumer Financial Protection Bureau in the past two years, with mortgages and debt collection topping the list of grievances.

But CFPB Director Richard Cordray told Yahoo News in an exclusive interview that he wants Americans to complain more.

Read more

The CFPB has recovered approximately $750 million for consumers since its inception in 2011.  The article includes a phone number which can be used to report problems to the CFPB and a link to the states and companies which are the biggest source of complaints. 
5
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
1. Tuesday, November 26, 2013 - 12:12 PM
"Cordray said his agency wants to see “systemic change” in the way financial institutions interact with the public. “We don’t plan to be spending our lives whacking a mole here, whacking a mole there,” he said."

A admirable goal indeed; good luck with it.:-)

CFPB initially helped me to fight a winning war against Chase (credit card issue) and Plus4 credit Union (saving account issue) 1-2 years ago.  Thanks!!

However, banks are getting accustomed to CFPB-related complaints over the recent years and are no longer paying much attention/fear to those complaints.  For example, Citi asked me to take a walk when I initiated a CFPB credit-card-related complaint recently.
2
51hh51hh1,461 posts since
Jan 16, 2010
Rep Points: 6,350
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