Got a burning question about payday lenders or need help parsing through this month’s mortgage statement? As of yesterday, the Consumer Financial Protection Bureau is now taking your questions.
Aptly named “Ask CFPB“, the new web page offers a space where consumers can post and rate questions on just about anything financial service-related, from credit card debt to student loans and mortgage modifications.
The service provides answers to more than 350 common questions with tools to filter out the results so users can find the most relevant answers. And if a consumer happens to find a financial company has broken the law, Ask CFPB makes it easy to file a complaint with the agency.
“We’re working to provide consumers with sound, dependable guidance on financial topics,” Richard Cordray, the agency’s director told reporters at a conference this week in Washington D.C. “Inherent in our mission is the need to promote financial literacy and financial know-how for all Americans.”
The timing couldn’t be better. “Ask CFPB” comes hot on the heels of news that student loan debt passed the trillion dollar mark months ago, and that millennials carry an average of $45,000 in debt, mostly in student loans.