In the same way people don’t think about their plumbing until a deathly stench rises from their shower drain, most of us have gotten used to the safeguards afforded by the federal Consumer Financial Protection Bureau — we’ve got backup if there’s a problem.
Among its service to American consumers: returning more than $21 billion to 205 million people; saving more than $5 billion by capping bank fees; fielding more than 6.8 million complaints about medical debt, student loan repayment and credit reporting; returning $183 million to veterans and service members for violations of the Military Lending Act; and removing $49 billion in medical collections from credit reports (anything under $500 cannot be included). Higher credit scores mean better rates and easier approvals on loans, credit cards and rentals.
