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

The CFPB continues to help consumers make informed financial decisions with up-to-date information and resources

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Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering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.

Pages: 1 · 2

More Articles

• Facing Financial Ruin as Costs Soar for Elder Care
• Study: Natural hazards Compound Covid-19 Impacts Disproportionately on Businesses Run by Minorities, Women and Vets
• Jo Freeman Reviews Electing Madam Vice President by Nichola D. Gutgold
• Jo Freeman Reviews Kamala’s Way, an Overview of Harris’ Life in California Politics
• Jill Norgren Writes: My Choices of Good Reads For The Past Year
• COVID19 Research Sources From the Federal Reserve Banks Including The Black Death in the Malthusian Economy Article
• Nichola Gutgold Writes: “Klob-mentum” and the Pronouns To Help
• Rumors Of War by Kehinde Wiley: Monuments and Their Role in Perpetuating Incomplete Histories and Inequality
• Biden, Klobuchar Rankings by the Lugar Center Highest Among Presidential Candidates Who Built Bipartisan Collaboration in the Senate
• Kavanaugh Protests Continue: "Sexual Predators on the Court, Hell No, We Don’t Support" and "November Is Coming"