Thank you, Savannah, for making Step Up’s annual meeting & breakfast a huge success. Ms. Zixta Martinez of the Consumer Financial Protection Bureau, our featured speaker, talked about the agency’s responsibilities for administering federal consumer protection laws and its newly issued mortgage rules intended to restructure the $10.4 trillion mortgage market. The bureau traveled around the U.S. to listen to thousands of consumers, business representatives and others, as well as conducted its own analysis before issuing the rules. Nearly one out of 10 mortgage borrowers is delinquent in Georgia, and almost one in three of our homeowners owes more in mortgage than their home is worth, Ms. Martinez reported. “Only Nevada, Florida, and Arizona were hit harder by the mortgage crisis,” she said.
She also stressed the important role municipalities can play in creating local responses that support healthy financial behaviors. Finally, Ms. Martinez urged consumers to use CFPB’s consumer complaint system, noting the agency has already handled more than 225,000 complaints about mortgages, credit cards, auto loans, debt collection and more. Its website is: consumerfinance.gov.
JCB Inc. won this year’s Workplace Innovator Award for its apprentice program, bringing young men and women into its workforce in positions that will lead to careers in that company. And finally, Daniel Dodd-Ramirez offered his assessment of Step Up’s accomplishments over the last year; you can read his remarks in full under the “research” section of this web site. View the full meeting, covered by SGTV, here: