By MyBankTracker  Thu Dec 6, 2012

CFPB to Analyze Lending Activity in Chicago

The Consumer Financial Protection Bureau (CFPB) has partnered with the city of Chicago in an effort to protect consumers.

The collaboration would allow the CFPB to analyze the city’s lending activity. The CFPB will use the data to identify any unfair practices against consumers and to develop protections to safeguard consumers.

“From my experience in state and local government, I have found that strong partnerships are sometimes difficult to build, but always the best way to get things done,” said CFPB director Richard Cordray in prepared remarks.

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