The CFPB writes and enforces federal rules against unfair, deceptive, or abusive practices in consumer finance, covering products like mortgages, credit cards, student and auto loans, and payday lending. It supervises large banks and many nonbank financial companies, fields consumer complaints, and can bring enforcement actions against firms that break federal consumer-protection laws.
Created by Congress under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Title X (Consumer Financial Protection Act of 2010) (Pub. L. 111-203; 12 U.S.C. 5491 et seq.), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.
