Reference no: EM133247701

Consumer Economics Research Assignment - Consumer Financial Protection Bureau (CFPB)

Course Objective - Utilize peer-reviewed research, government sites, and other reputable resources to complete research assignments on topics in consumer economics. You will examine the rights and responsibilities of American consumers, and the role of government agencies in the protection of consumers, among other relevant topics.

Research Assignment - (suggested length: 4 pages double-spaced, plus CFPB educational resource):

In this assignment, you will research the CFPB and report on a variety of CFPB components, to include the history of the bureau, common complaint types and the complaint process, and CFPB educational tools, among others.

1. Research the history of the CFPB. Why, how and when was the agency formed? Who were the main founders, Directors, and other key stakeholders? What was the Dodd-Frank Wall Street Reform and Consumer Protection Act, and how is the Act related to the CFPB? How has the CFPB evolved from its inception? To date, what have been the major accomplishments of the CFPB?

Include fines and dollars recovered. Write a summary (suggested length: 1 page). Use reputable resources, including at least 1 peer-reviewed article (minimum of 2 resources beyond our textbook and the assigned reading). Use in-text citations and references at end of entire assignment using APA style.

2. Research the CFPB's areas of service. What is their mission and main services? How do you file a complaint? Describe the complaint process. During the last 3 years, how many complaints have been filed in the state in which you reside? What was the product with the highest complaint volume, and what was the issue reported with that product? Write a summary (suggested length: 1 page). Use reputable resources (minimum of 1 beyond our textbook and the assigned reading). Use in-text citations and references at end of entire assignment using APA style.

3. Locate the most recent version of the CFPB's Consumer Response Annual Report. Discuss 3 of the reported complaint types. For each, describe the issue(s) experienced. What was the common company (or agency) response? Write a summary (suggested length: 1 page). Use reputable resources (minimum of 1 beyond our textbook and the assigned reading). Use in-text citations and references at end of entire assignment using APA style.

4. a) Research and discuss one of the CFPB's various educational outreach tools. For example: Your Money, Your Goals toolkit, MoneySmart for Older Adults, Money Monsters, the Money Circle Tool, or others. How can consumers access these tools? Research the various free educational resources the CFPB has to offer.

b) Identify at least one free CFPB educational resource that would be appropriate to share with consumers in your particular field of Family and Consumer Sciences. This could be a worksheet, video, etc. Outline and discuss how you would use this resource to engage with consumers in your particular field of Family and Consumer Sciences.

c) Upload with your submission a PDF copy (if applicable) of the resource, OR provide a link to the resource in the text submission space when you submit your assignment.

(Suggested length for all of question 4: 1 page total). Use in-text citations and references at end of entire assignment using APA style.

5. Complete #1-4 of the assignment in one continuous Word document with your alphabetized reference page at the end.