A new survey is finding that the agency tasked with protecting the rights of American consumers is barely known by the people it is supposed to be helping.
In a national telephone poll
of more than 500 adults survey commissioned by CreditCards.com, 81 percent of respondents said they could not offer an opinion of the Consumer Financial Protection Bureau (CFPB) because they barely knew anything about it. Among the 17 percent that were aware of the CFPB, 12 percent approved of its work, four percent disapproved and three percent had no opinion. Even more striking, 91 percent of young adults between 18 and 24 were familiar with the CFPB.
The CreditCards.com poll also asked if respondents would support the concept of a federal agency that protects consumers from unfair, deceptive or abusive conduct. Eighty percent said yes, with about as many Republicans as Democrats favoring the idea.