National Consumer Protection Week Observed in Illinois


From March 2nd through the 8th, federal and state governments observe “National Consumer Protection Week,” a designated period to increase awareness about consumer rights and obligations.  According to a recent article in eNews Park Forest, the Illinois Department of Financial and Professional Regulation (IDFPR) has partnered with the Federal Trade Commission (FTC) to help Illinois residents understand the implications of borrowing money, owning a home, having accounts at Illinois depository institutions, and hiring licensed Illinois professionals. The IDFPR has three different divisions to address these consumer issues, including banking, financial institutions, and professional regulation.
The IDFPR has a goal to “help prevent fraud an unprofessional behavior by regulating thousands of businesses and by providing assistance to Illinois residents who have had unsatisfactory experiences with professional licensees.” In short, the department teaches consumers about their rights when it comes to matters like fraud, debt collection, and mortgage servicing practices.  Have you had a bad experience with a debt collection agency or a mortgage servicer?  You may be eligible to file a claim for compensation.  The consumer protection attorneys at the Emerson Law Firm have years of experience handling these cases and can discuss your claim with you today.
Illinois Activities During National Consumer Protection Week
The IDFPR worked with Congresswoman Robin Kelly to provide “a one-stop home ownership expo” for Illinois residents.  The expo will take place on March 15, 2014, and it will provide information to current homeowners and Illinois residents who are thinking about buying a home.  At the expo, consumers will be able to talk first-hand with lenders about options for mortgages and loan modifications, and they’ll also be able to learn more about other important consumer matters.  According to the article in eNews Park Forest, expo participants will “gain useful advice about mortgage refinancing, foreclosure prevention, legal rights, credit counseling, and avoiding scam artists.”  In other words, consumer issues addressed at the expo will run the gamut from simple mortgage matters to intricate consumer fraud schemes.
According to Manuel Flores, the Acting Secretary of Financial and Professional Regulation, the IDFPR wants to “make sure Illinois consumers know they have a resource if they believe a licensed business or individual is taking advantage of them.”  He further emphasizes how the consumer protection laws enforced by the IDFPR “enable the agency to discipline and deter the bad actors in the industries and professions we regulate.”  And National Consumer Protection Week is a great time to get this information out to Illinois residents who might not know about their rights and options when it comes to matters such as debt collection and harassment.  
Tips for Being a Safe Consumer
As part of National Consumer Protection Week, the Federal Deposit Insurance Corporation (FDIC) also offered important tips for being a safe consumer.  The FDIC highlighted that, “no matter your age or stage in life, it’s important to have as much information as possible to effectively manage your money and avoid financial frauds and scams.”
In order to increase awareness about some of the most salient issues plaguing consumers, the FDIC provided five lessons for consumers over the course of last week.  They include:
·      Protecting yourself from credit card scams, especially those created by “high-tech criminals.”
·      Knowing the difference between debit, credit, and prepaid credit cards and how they affect your credit ratings.
·      Knowing how to handle errors in your accounts.
·      Understanding the new mortgage rule and how it protects consumers from “risky mortgages” and can “help borrowers better manage a home loan.”
·      Knowing how to improve your credit history, which can help you to pay less for your loans in the long run.
The FDIC’s website provides articles related to each tip.  In the meantime, if you have questions about consumer rights in Illinois, contact a Chicago consumer protection lawyer today.
See Related Blog Posts:
Debt Collection Scams Prevalent, According to Chicago Better Business Bureau

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