Colorado Politics

Denver launching consumer protections effort while White House looks to weaken safeguards, city says

If the White House is softening its approach on consumer protections, Denver will explore how to counter predatory financial practices at home, city officials say.

Denver Mayor Michael Hancock’s office announced the Consumer Financial Protection Initiative last week. The program will focus on combating elder financial abuse, notary fraud, wage theft, predatory lending and predatory housing practices.

“Through this new initiative, we are ramping up our efforts to help Denver residents know their rights, understand their choices as consumers and achieve greater economic mobility for themselves and their families,” Hancock said in a statement. “This new initiative is a big step toward the comprehensive system we need to provide financial relief for our residents.”

The city argues recent federal actions have threatened to weaken important consumer protections, so it is exploring ways to protect residents from predatory practices. President Donald Trump and regulators he appointed have reportedly taken a far less aggressive approach to consumer protection than their predecessors, the Washington Post reports.

The city began work to establish the initiative in late 2017; Denver will work on forming a central hub for consumer protection complaints this year. The hub would connect consumers with agencies that aid in resolving complaints and point to other resources as well as collect data to inform future efforts.

 
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