The Erie County Office of Consumer Protection reminds the public of the ability to access information about protection against bank failure and theft in light of the recent developments that resulted in the closure earlier this month of two large banks based in the United States.

“The importance of being an educated consumer when it comes to keeping your money safe and protecting yourself against fraud, bank failure, theft, and all other financial scams is what our office wants to highlight,” said Jennifer Andres, Director of the Erie County Office of Consumer Protection. “Our office stands ready to assist anyone seeking the most up-to-date information on how they can best protect themselves. The Office of Public Advocacy will continue to work closely with our various government partners to ensure anyone who attempts to steal or exploit any Erie County resident is held accountable.”

Established partnerships with various entities that include the Consumer Financial Protection Bureau, New York State’s Department of Financial Services, the Federal Trade Commission, and the Office of the Comptroller of Currency have helped keep the Erie County Office of Consumer Protection informed on the best ways to educate local residents on understanding banking and lending practices and policies to help keep everyone’s personal and financial information safeguarded against scams.

Today’s consumer faces many choices in investing, banking, and financial institutions, each highly regulated by state and federal standards. Staying educated is the best way to combat fraud. If you aren’t familiar with the terms and conditions of any of your accounts, re-read them to know your rights and responsibilities. The terms and conditions outline each party’s contractual obligations, including if there is a process for when disagreements arise, like binding arbitration. If you still have questions after reviewing your terms and conditions, reach out to our office for guidance on where you can obtain further assistance.

To learn what questions to ask and how to stay informed about banking, please contact the Erie County Office of Consumer Protection here.

For more information:

About the Erie County Office of Consumer Protection, call (716) 858-1987 or email consumerprotection@erie.gov or visit www.erie.gov/consumerprotection/