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MADISON –The Consumer Financial Protection Bureau (CFPB) turns four years old today. To celebrate and increase public awareness of the agency, WISPIRG Foundation has created a new webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.”
“Before the CFPB started its operations four years ago, consumers who had problems with financial companies were at the mercy of those companies. Now, we have a cop on the beat,” said Peter Skopec, WISPIRG Foundation Director.
Some key accomplishments and resources highlighted on the list:
- When companies break the rules, the CFPB takes action to protect consumers and gets their money back -- over $10 billion so far.
- The CFPB has taken over 600,000 consumer complaints and publishes them online, along with responses from the complained-about companies.
- The CFPB protects all financial consumers but also has special offices to fight discrimination, protect servicemembers, older Americans and students.
“We’re also excited that the CFPB continues to improve its tools based on our recommendations. Just last month it began publishing detailed consumer stories in the complaint database. And last week it started publishing a monthly report summarizing the number of complaints and the worst companies in the database,” said Skopec.
Access the webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.”
WISPIRG Foundation works to protect consumers and promote good government. We investigate problems, craft solutions, educate the public, and offer meaningful opportunities for civic participation.
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