CFPB: Our Mission CFPB: Our Mission 1 Our Mission Note: This p - - PDF document

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CFPB: Our Mission

CFPB: Our Mission

Our Mission

Note: This p resenta tion is being m a d e by a Consum er Fina ncia l Protection Burea u (CFPB) rep resenta tiv e on beha lf

• f the Burea u. It d oes not constitute lega l interp reta tion,

guid a nce or a d v ice of the CFPB. This d ocum ent w a s used in sup p ort of a liv e d iscussion. As such, it d oes not necessa rily exp ress the entirety of tha t d iscussion nor the rela tiv e em p ha sis of top ics therein. Purpose: To make markets for consumer financial products and services work for Americans. By: Ensuring that consumers get the information they need to make the financial decisions that are best for them. Working so that:

• prices are clear up front,
• risks are visible, and
• nothing is buried in fine print.

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Bureau Structure

Consumer Engagement Financial Education Financial Empowerment Older Americans

Servicem em ber Affairs

Students

Operations Division Consumer Education & Engagement External Affairs Ombudsman Operations Division Legal Division Supervision, Fair Lending & Enforcement Research, Markets & Regulations Office of the Director 2

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CFPB: Our Mission

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Office of Servicem em ber Affairs: Our m ission

Office of Servicem em ber Affairs

OSA Mission: Address consumer financial challenges affecting military personnel (including retirees and veterans) and their families. By:

• 1. Providing financial education,
• 2. Monitoring complaints, and
• 3. Coordinating with other Federal and state agencies on military

consumer protection measures. Com plaints are an im portant way we learn about financial challenges im pacting the m ilitary.

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Com plaints Process

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The CFPB accepts com plaints about

Have a com plaint about a product or service not on this list? Call toll free (855)411-CFPB (2372), or TTY/ TDD (855)-729-CFPB (2372), and we’ll answer your questions and refer you to other resources that may help. Visit www.consumerfinance.gov/ complaint for more information.

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Com plaint Process

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Com plaint process: Com plaint subm itted

• Web
• Phone
• Referral
• Fax
• Mail
• E-mail

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Com plaint process: Review and route

• Check for completeness and jurisdiction
• Remove duplicates
• Send to company

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Com plaint process: Com pany response

• Company responds to consumer and

the CFPB, usually within 15 days

• All but the most complicated

complaints are responded to within 60 days.

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Com plaint process: Consum er review

• Consumer provides feedback

about company’s response

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Com plaint process: Review and investigate

• Feedback reviewed
• If investigation is necessary, reconcile situation

and collect documentation as needed

• Identify suspected violations and consumer

educational opportunities

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Com plaint process: Analyze and report

• Internal stakeholders
• Federal and state

regulators

• FTC Sentinel
• Congress
• Consumer Complaint

Database

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Consumer Response Data and Trends

Resources

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Consum er Com plaint Database

Publicly available: consum erfinance.gov/ com plaintdatabase

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North Dakota Data (through 20 14)

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Ask CFPB

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Conclusion

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Help Us Help You!

We want to hear from active duty, Guard, Reserve, retirees, family members, and veterans – the whole military community. Those who serve, or have served, our country should not have to worry about falling victim to unfair or deceptive financial practices. It’s our honor to represent the military community at the CFPB, and to make sure that its concerns are heard – and that we do something about them. Ways to connect:

• CFPB website: www.consumerfinance.gov
• OSA Facebook page: www.facebook.com/ cfpbmilitary
• OSA Twitter feed: www.twitter.com/ cfpbmilitary
• Email: military@cfpb.gov
• Order CFPB brochures: www.promotions.usa.gov/ cfpbpubs.html

* All photos courtesy of the Department of Defense.

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