CFPB Report: Empowering Low Income and Economically Vulnerable Consumers

CFPB Report: Empowering Low Income and Economically Vulnerable Consumers

The low-income and economically vulnerable population includes as many as 100 million people. These consumers are diverse in culture, geography, stage of life, and financial status. Last year, the CFPB’s Office of Financial Empowerment hosted a forum to examine the unique consumer financial product and service needs of low-income and economically vulnerable consumers. This report captures the reflections and insights of attendees and describes some of the strategies the CFPB is pursuing to address the issues identified.

Read the CFPB  report on empowering low income and economically vulnerable consumers.

Links to several online resources that the Bureau provides

  1. Submit a Complaint http://www.consumerfinance.gov/complaint/
  2. Consumer Complaint database http://www.consumerfinance.gov/complaintdatabase/ (download data on all consumer complaints we have received)
  3. Tell Your Story  https://help.consumerfinance.gov/app/tellyourstory (consumers can tell their story, good or bad, about their experiences with consumer financial products)
  4. Find a HUD approved housing counselor  http://www.consumerfinance.gov/find-a-housing-counselor/

 We’d also like to draw your attention to a CFPB Advance Notice of Proposed Rulemaking (ANPR) on debt collection practices. See https://www.federalregister.gov/articles/2013/11/12/2013-26875/debt-collection-regulation-f.

We have until February 10, 2014 to submit comments.

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