Earlier this week, President Obama appointed Richard Cordray to be the new director of the Consumer Financial Protection Bureau (CFPB). The CFPB is new organization with one important mission: fighting for American families. The folks at the CFPB go into the office every day to make sure that credit cards, mortgages, and loans work better for the people who use them.
On Thursday, Mr. Cordray put out a special video and sent an email to the CFPB email list asking the American people to share their stories about your experiences with everyday consumer financial products like credit cards, mortgage agreements and loans.
Check out the video and email below and then head over to ConsumerFinance.gov to share your story.
Email from Richard Cordray, Director of the Consumer Financial Protection Bureau:
Happy New Year,
As the new Director of the Consumer Financial Protection Bureau, and as someone who has been helping to build the Bureau for about a year now, I can tell you it's an extraordinary privilege to work on behalf of American consumers.
Consumers like you. Tell your story.
In our first six months, our team at the Bureau has been answering calls and reading stories from hundreds of American consumers every week. Their stories illustrate the kinds of issues people are dealing with around the country.
These things can happen to anyone. We are not talking about some impersonal abstraction, not about somebody "else." We are talking about each one of us. We're talking about our mothers and fathers, our sisters and brothers, our sons and daughters. Regular people who are trying to make the right choices for themselves and their families.
We've heard from people like Rebecca from North Carolina. She told us she missed a mortgage payment nine months after her husband lost his job. In the two years since then, her mortgage servicer has increased her payments even though she entered a trial modification in an effort to lower her monthly payments. The servicer has charged her monthly fees for inspections and appraisals that she never asked for and she believes have never occurred, all while repeatedly threatening her with foreclosure unless she shells out more money in unexplained fees. Rebecca has frantically complied with all of these demands because she is afraid of foreclosure and so is doing whatever she can to stay in her home.
Tell us your story at https://help.consumerfinance.gov/app/tellyourstory