DENVER — The Consumer Financial Protection Bureau continues to face uncertainty under the Trump administration. Denver7 is sharing tips to protect yourself no matter what happens with the agency.
Despite the changes, there are more tools at your disposal than you may realize, Executive Director of Colorado Public Interest Research Group (CoPRIG) Danny Katz said.
You can start with simple tasks like freezing your credit to stop bad actors from creating a fake bank account, taking out a loan, or even starting a credit card in your name. Katz also shared the Colorado attorney general has a website you can use to file a complaint against a business. On the website, you can report problems or fraud if you think you've been taken advantage of. Despite the changes at the Consumer Financial Protection Bureau, Katz said the agency still has operations that can protect you.
"Nationally, the Consumer Financial Protection Bureau still has its own complaint database, and that's a system where you can submit complaints, and the CFPB will pass those complaints on to those companies on your behalf. And since that database has been created, we've seen that the response times from these massive multinational companies are quite good when they know that an agency like the CFPB is watching," Katz said.
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