DIFS Promotes Consumer Education and Services During National Consumer Protection Week, March 4 - 10, 2018
FOR IMMEDIATE RELEASE: March 5, 2018
(LANSING) As part of National Consumer Protection Week, the Michigan Department of Insurance and Financial Services (DIFS) highlights the work the Department does to protect and educate Michigan residents.
In 2017, DIFS helped Michigan residents recover over $8.4 million, with $2 million of those recoveries coming from the matching of over 760 policies through the Michigan Life Insurance and Annuity Search or LIAS program. DIFS Office of Consumer Services also handled over 5,000 written complaints and responded to over 12,000 consumer questions regarding insurance individuals and entities, banks, credit unions, mortgage companies, payday lenders, and debt management firms.
The DIFS Consumer Education Program provides free, statewide financial education for Michigan consumers at various community locations. Through the Consumer Education Program, DIFS works to increase public awareness and understanding of the department’s services. In 2017 alone, DIFS was able to reach over 24,000 Michigan residents.
“An informed consumer is more likely to make better financial decisions,” said DIFS Director Patrick McPharlin. “It’s our role to provide them with the information they need.”
National Consumer Protection Week is a time to focus on providing consumer protection tips and inform them of their rights when making financial decisions. For more information about National Consumer Protection Week visit www.consumer.ftc.gov.