News Release

Contact

Mike Litt,
U.S. PIRG

Top 10 List: How the CFPB Works for Consumers

USPIRG Celebrates CFPB’s 4th Birthday on Tuesday, July 21, with New Webpage
For Immediate Release

Washington, D.C. –The Consumer Financial Protection Bureau (CFPB) turns 4 on July 21st. To celebrate and increase public awareness of the agency, U.S. PIRG Education Fund released a new webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.”

“Before the CFPB started its operations 4 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 Mike Litt, Consumer Program Advocate with the USPIRG Education Fund.

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 complaints and publishes them online, along with responses by the complained-about companies.
  • The CFPB protects all financial consumers but also has special offices to fight discrimination and 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 Litt. 

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Access the webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.” 

USPIRG Education Fund works to protect consumers and promote good government. We investigate problems, craft solutions, educate the public, and offer meaningful opportunities for civic participation. www.uspirgedfund.org

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