Consumer Complaints at an All Time High. CFPB Leading the Charge.

Interesting article in Bloomberg Business regarding Consumer Financial Protection Bureau (CFPB) “a record 26,704 complaints were registered in July, up 15 percent from the previous month and up 20 percent from a year ago. The CFPB regulates a wide range of consumer financial products, with the notable exceptions of investments and insurance. Debt collectors inspire the most complaints, followed by problems with credit reports and with mortgages. Rather than once again calling customer service and waiting on hold, people can complain to the CFPB online or over the phone. Within days, those complaints are reviewed and routed to companies electronically. Companies must respond within 60 days. ”
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NOTE FROM DIANE: Bullies can only be stopped by standing up to them.  Banks, credit collection companies and the like have lost all sense of responsibility or accountability when it comes to collecting debts.  In the four years that CFPB has existed it has done more to quash creditors and collection companies abuse of consumers and downright fraud than any governmental organization.
When you are being abused or bullied stand up for yourself and complain to someone who can do something.  Be loud and insist on your right to peace and security.  Yes, this includes abusive collection companies.  There are laws governing their actions – the federal Fair Debt Collection Practices Act.  In addition, any states have debt collection laws.

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