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The Consumer Financial Protection Bureau (CFPB) was envisioned by Elizabeth Warren while she was still a law professor at Harvard Law School.In 2010, it was established by the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act under President Barack Obama and the Democrat-led Congress.
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
The CFPB was created after the financial crisis of 2007–2008 as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act.While initially aimed to protect consumers from bad mortgage lenders that had partially created the financial crisis, the CFPB has also involved itself in other areas at high risk of fraudulent activity that harm consumers, such as credit cards, credit ...
The Trump administration has agreed to pause layoffs and funding cuts at the Consumer Financial Protection Bureau, or CFPB, the federal agency responsible for cracking down on “junk” fees and ...
As a result, the job of policing a wide range of financial firms for compliance with several consumer protection laws has functionally disappeared, one that has been a mainstay since the agency ...
Sen. Elizabeth Warren said Wednesday that the law clearly states only Congress can shutter the Consumer Financial Protection Bureau, setting up a potential legal clash with President Donald Trump ...
The Act established the Consumer Financial Protection Bureau (CFPB), which has the mission of protecting consumers in the financial markets. Then–CFPB Director Richard Cordray testified on April 5, 2017, that: "Over the past five years, we have returned almost $12 billion to 29 million consumers and imposed about $600 million in civil penalties."
The bureau was created after Congress and President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Dodd-Frank Act, in July 2010 ...