Government Opens Agency to Help American Consumers

In this day in time, there are many things to be concerned about that were not here fifty years ago. The United States government is expanding efforts to increase your financial safety. They have instituted the Consumer Financial Protection Bureau. It opened on July 21, 2011, yet many Americans are not aware of this new institution. The United States Consumer Financial Protection Bureau was created to help ease some of the tension that is caused by financial distress and hardship.

The aim of the Consumer Financial Protection Bureau is to help make the monetary products and services easier to understand and help these things work to the advantage of the American people. This could mean helping someone who is trying to apply for a mortgage loan, making the choice about which credit card to use, or any other financial situation. This federal agency was created because of the need that American’s have for an institution to help with financial problems. The CFPB is an agency that will serve as a protector or watchdog to oversee banks, credit unions, mortgage lenders, foreclosure companies, and other financial companies. It is a help to the American people because it is a step in the direction of reinstating equivalence between large companies and consumers. It does this by enforcing rules and regulations for banks, as well as doing assessments.

The CFPB looks into complaints that are raised. This is different than what has happened in the past, because these tasks used to be split up between different government agencies. When they are combined to one group, the group will be able to be more focused on the sole issues of consumer safety. Richard Cordray, the director of the CFPB, said that the immediate focus is placed on mortgage issues, credit cards, and student loans.

The Consumer Financial Protection Bureau’s website has information, statistics, and facts that you need to know. You may also submit complaints regarding unfair treatment by credit card companies like hidden fees or price changes that you were not made aware of. If you have found yourself in a situation like this or you have questions about your rights, you should consult with a bankruptcy attorney. They know about the law, and they know how the government can help you. There are protections and laws that you are covered by that you may not know exist. Lawyers skilled in practices such as these are your biggest allies when helping you get what you deserve.

Rosenstein Law Group is one of these. Their experienced staff knows your struggles, and they are ready and waiting to help you find a solution. Their answers are straightforward, and their solutions are effective. At Rosenstein Law Group, they have people waiting 24 hours a day, every day to take your phone call. Their number is 480-248-7666. They are knowledgeable, skilled, and waiting for you to call so that they may help you through this time of hardship and back on the path to prosperity.

 

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