Volunteers at the Boston Red Cross during the epidemic of 1918, assembling gauze masks; CDC Collection. Governor McCall asks for volunteers with medical training to help.
Editor’s Note: How the Bureau was founded; An explanation from President Barack Obama* and a statement from the head of the CFPB, Director Kathleen L. Kraninger
Link to C-Span: https://www.c-span.org/video/?470203-1/consumer-financial-protection-bureau-oversight#
The Consumer Financial Protection Bureau (Bureau) has recently released several resources to help consumers take steps to protect their finances during the COVID-19 pandemic, including how to avoid financial scams and submit complaints to the Bureau.
“During this difficult time, the Bureau is doing everything it can to facilitate the work of responsible financial companies supporting their customers and borrowers. We want consumers facing hardships to be are aware of this posture and encourage them to discuss their specific circumstances with their lenders. As a backstop, the CFPB stands ready to help consumers resolve issues with their financial services providers through our consumer complaint system,” said Director Kathleen L. Kraninger.
Above, Consumer Financial Protection Bureau’s new seal
“We also want consumers to know the various steps they can take to help themselves or a loved one, both in the short and long term. Our resources address situations ranging from consumers having difficulty paying their bills or meeting other financial obligations to consumers experiencing a loss of income to avoiding scams,” concluded Kraninger.
https://www.consumerfinance.gov/
Following are links to the information available for consumers:
Protect yourself financially from the impact of the coronavirus
Protecting your credit during the coronavirus pandemic
Coronavirus and dealing with debt: Tips to help ease the impact
Tips for financial caregivers during the coronavirus pandemic
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.
*From President Barack Obama in 2011: *ELIZABETH’S CONSUMER FINANCIAL PROTECTION BUREAU IS STANDING UP FOR AMERICAN CONSUMERS AND HOLDING WALL STREET ACCOUNTABLE
In 2008, greedy financial institutions crashed our economy and working families all across this country paid the price. Millions of Americans lost their jobs, millions lost their homes, and millions lost their savings. In the aftermath, President Obama signed into law the toughest Wall Street reforms and strongest consumer protections in a generation. Those reforms included a new agency — the Consumer Financial Protection Bureau — dedicated to stopping scams and holding financial firms accountable when they cheat people.
Leave a Reply
You must be logged in to post a comment.