Protecting your money
POSTED: Wednesday, November 9, 2011 - 11:28am
UPDATED: Monday, December 5, 2011 - 11:38pm
NBC NATIONAL NEWS — There's new federal help when it comes to protecting consumers when they borrow money.
It's called the Consumer Financial Protection Bureau.
Like the Food and Drug Administration polices food and drugs, the CFPB mission is to help keep your money safe.
The CFPB was established last year when President Obama signed the Dodd-Frank wall street reform and consumer protection act into law.
When the CFPB officially opened for business in July it launched a website, ConsumerFinance.gov.
The site offers advice on financial decisions like student loans, mortgages and credit cards.
It also serves as a simple place to complain, with the governments help, when there is a problem.