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12 May 16:53
About our CFPB news
Latest news on CFPB (Consumer Financial Protection Bureau), a US government agency that is responsible for consumer protection in the financial sector. The CFPB was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which was a legislative response to the financial crisis of 2007-08 and the subsequent Great Recession. The CFPB is an independent bureau within the Federal Reserve System, but it also has an interim affiliation with the U.S. Treasury Department.
The CFPB has the authority to investigate and penalise financial institutions for unfair, deceptive, or abusive practices, and it has recovered billions of dollars in relief for consumers who have been harmed by such practices.