New financial help for consumers

New financial help for consumers

By Karen Stiles. CREATED Jul 27, 2011 - UPDATED: Jul 29, 2011

Are you having a hard time resolving a credit card or mortgage problem? 

You may be able to get some extra help from the Consumer Financial Protection Bureau. 

What is the Consumer Financial Protection Bureau and how can they help consumers?

In 2010, Congress established the Consumer Financial Protection Bureau to protect and educate consumers about consumer financial laws.   This bureau is responsible for:

•    Establishing and enforcing rules to help consumers steer clear of unfair, deceptive, and abusive practices

•    Taking consumer complaints about such things as credit cards and mortgages, and following through to be sure that these complaints are getting resolved

•    Providing consumer information and education about how to shop for financial products, and what things to watch out for so that consumers do not get taken.

How does one file a complaint and what kind of action should they expect?

At present, the main focus is on resolving credit card complaints, but this bureau will also provide referrals for resolving mortgage issues.

If you have a complaint or need help, you can go to their website at or call them at 1-855-411-2372.

When you contact them, they will:

•    Forward your complaint to your credit card company

•    Provide a tracking number for your case

•    Stay in touch and keep you updated on the status of how this will be resolved.

What if you have a situation that is seems to be beyond resolution?  Is there anything that can be done?

Regardless of your situation, the Consumer Financial Protection Bureau wants to hear from you so that they can learn more about what consumers are going through and how to provide the best help possible.