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(Source: Mercury News Contra Costa Times) – Overlooked amid the partisan wrangling over the debt ceiling, the federal government launched its most ambitious effort in decades to protect consumers from financial abuses and fraud associated with lending practices.Formed as a result of the financial meltdown of 2008, the Consumer Financial Protection Bureau is designed as a one-stop place for consumers to file complaints about financial products, such as mortgages, credit and debit cards, prepaid cards, student loans and payday lenders. However, auto loans are exempt from the bureau’s purview.
Source: Mercury News Contra Costa Times
Posted: 08/02/2011 04:21:33 PM PDT
Updated: 08/02/2011 05:17:48 PM PDT
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