In a move to protect consumers, the new Consumer Financial Protection Bureau (CFPB) will try to make sure the financial products and services market is fair, transparent and competitive.
As of July 21, the Consumer Financial Protection Bureau offers a one-stop place for credit card holders to resolve complaints they may have with a credit card issuer.
The agency's new Web-based Consumer Response Center allows credit card holders file complaints online or via a toll-free number.
Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the new agency will serve as "a cop on the beat” to enforce the laws on credit cards, mortgages, student loans, prepaid cards, and other kinds of financial products and services, according to the website.
Photo courtesy Flickr user Images_of_Money.