The Consumer Financial Protection Bureau was created by Congress after the economic collapse to protect consumers and reduce the risk of another collapse. It has implemented fair rules of the road that have evened the playing field for responsible consumers and businesses alike. The CFPB is protecting students, seniors, service members and the rest of us too.Since 2011, the CFPB has served as a successful and accountable watchdog over unfair and greedy practices by companies offering financial products like mortgages, student loans, and credit cards.
The CFPB has also been accountable to the public, including with a small business review panel, 4 advisory boards, 36 public town halls and field hearings, and 61 visits by senior officials to testify before Congress. The financial industry has attacked the agency since before it was even created. The attacks have intensified as the CFPB continues to be the poster child of a government agency that is actually working and not corrupted by the industry it is tasked with regulating.
Download the report here 39 page PDF report
As consumers age they can face increased risk in the financial marketplace, and predatory businesses may target them with misleading ads, unfair fees, and overpriced or unnecessary financial products. A new analysis shines light on these issues, finding that through July 2017, older Americans had submitted at least 72,000 complaints to the Consumer Financial Protection Bureau, also known as the Consumer Bureau. The analysis found that mortgages, debt collection, and credit reports accounted for the most complaints by older Americans, representing 31, 17 and 17 percent of complaints, respectively. Florida ranks near the top.