January 12, 2014

8 ways the Consumer Financial Protection Bureau is helping consumers

“The watchdog agency envisioned by Massachusetts Sen. Elizabeth Warren was created in 2010 as part of an effort to revamp financial laws in the U.S. The CFPB was charged with protecting consumers from potentially predatory financial products and with helping better inform borrowers about the loans they're taking out,” according to Amber Phillips.
1.      Making sure you can't get a mortgage you can't afford
2.      Simplifying mortgage-speak
3.      Going back to school (student loans)
4.      Fining mortgage lenders for rewarding bad-for-borrower behavior
5.      Helping individuals stand up to corporate giants 
6.      Making it easier for stay-at-home workers to get credit cards
7.      Keeping payday lenders in check
8.      Keeping auto lenders from taking minority borrowers for a ride

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