To have a place to turn to, to come to this Consumer Bureau, to say the complaint in their own voice, and to make sure we will work with the company to try to get it fixed and they can get relief in many instances, that is really important for people.
Cordray highlights the importance of the Consumer Bureau in addressing consumer complaints.
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More from Richard Cordray
Student loans are an enormous problem. We happen to have some great people at the Bureau working on them.
[a]rbitration clauses, as they are used today both in the field of consumer finance and more generally, often have been deliberately designed to block Americans from effective means of vindicating their rights.
That is an execrable practice. It is against the law. We have taken strong enforcement actions against it.
The changes that are being made here that the Secretary announced...are going to result in the numbers of people receiving public service loan forgiveness...into the tens of thousands.