US government office that seeks to make markets for consumer financial products and services work for Americans. Its creation was inspired by Elizabeth Warren.
Link to organization
Primary geographic focus: NATIONAL
Organization type(s): Government
Acronym or short name: CFPB
Tags: Consumer Protection
We work to give consumers the information they need to understand the terms of their agreements with financial companies. We are working to make regulations and guidance as clear and streamlined as possible so providers of consumer financial products and services can follow the rules on their own.
Congress established the CFPB to protect consumers by carrying out federal consumer financial laws. Among other things, we:
- Write rules, supervise companies, and enforce federal consumer financial protection laws
- Restrict unfair, deceptive, or abusive acts or practices
- Take consumer complaints
- Promote financial education
- Research consumer behavior
- Monitor financial markets for new risks to consumers
- Enforce laws that outlaw discrimination and other unfair treatment in consumer finance
CONTENT MENTIONING/INVOLVING THIS SOURCEPaul Wiseman
Associated Press (AP)
June 2, 2015
Housing debt has become a financial threat to senior in the wake of the mortgages crisis.
News Story Michelle Chen
December 2, 2015
A recent lawsuit has helped expose what advocates describe as a reign of financial terror, threatening financially distressed consumers with spurious lawsuits to basically coerce people into paying debts they did not owe them.
Investigative Paul Kiel
December 28, 2015
A ProPublica analysis of state court filings reveals that Capital One sues its customers far more than any other bank.
News Story Shahien Nasiripour
February 8, 2017
A seemingly benign catalogue of consumer complaints is one of banks' biggest gripes.
News Story Jessica Silver-Greenberg, Michael D. Shear
New York Times (NYT)
March 26, 2015
CFPB proposes new rules to regulate payday lending, short-term loans that often carry triple digit interest rates.
This page last modified: Thu, April 16, 2015 -- 7:39 pm ET