Consumer Financial Protection Act

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Dictionary Says

Definition of 'Consumer Financial Protection Act'

An amendment to the National Bank Act designed to identify and explain the standards that apply to national banks. The Consumer Financial Protection Act aims to increase oversight and clarify the laws governing financial transactions in order to protect consumers in these transactions. The act resulted in the creation of the Consumer Financial Protection Bureau (CFPB) to centralize the regulation of various financial products and services. 
Investopedia Says

Investopedia explains 'Consumer Financial Protection Act'

In the wake of the housing market collapse of the late 2000s, which many blamed, at least partly, on "predatory" lending practices, numerous proposals had been made seeking to grant the federal government more oversight of various financial processes. Forming a Consumer Financial Protection Bureau, (also refered to as the Consumer Financial Protection Agency) was one of those proposals. The agency is designed to consolidate or resolve descrepencies between federal and state financial laws. CFPB was launched in 2011; its main goal is to protect consumers from fraudulent and/or overly aggressive behavior from banks and other financial institutions.  
Search results for

'Consumer Financial Protection Act'

  • Get To Know Your Consumer Financial Protection Bureau

    http://www.investopedia.com/articles/pf/12/financial-protection-bureau.asp
    ... Consumer Protection Act officially created the CFPB. The bureau seeks to eliminate
    the deceptive, illegal practices that led the recent United States financial ...

  • Understanding The Consumer Financial Protection Bureau ...

    http://financialedge.investopedia.com/financial-edge/0811/Understanding-The-Consumer-Financial-Protection-Bureau.aspx
    ... Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ...
    student loans, prepaid cards, and other kinds of financial products and ...

  • Consumer Protection Laws You Need To Know

    http://www.investopedia.com/articles/pf/10/know-your-consumer-protection-laws.asp
    ... avoiding scams and obtaining a consumer report is ... the overall maintenance of our
    financial health ... situations, including the Home Owner Protection Act, the Home ...

  • What effect did the Bankruptcy Abuse Prevention and Consumer ...

    http://www.investopedia.com/ask/answers/08/bankruptcy-abuse-prevention-act.asp
    ... What effect did the Bankruptcy Abuse Prevention and Consumer Protection Act
    of 2005 have on debtors? Credit card companies and banks ...

  • Series 26 Study Guide - Recordkeeping Rules - Registration and ...

    http://www.investopedia.com/exam-guide/series-26/recordkeeping-rules/registration-brokers-dealers.asp
    ... a reserve account for the protection of customers ... Privacy of Consumer Financial
    Information In 2000, the SEC adopted ... Section 504 of the Gramm-Leach-Bliley Act. ...

  • Series 6 Study Guide - Customer Accounts - Anti-Money Laundering ...

    http://www.investopedia.com/exam-guide/finra-series-6/customer-accounts/anti-money-laundering-regulations.asp
    ... of 1988; 5.9 Securities Investors Protection Act of 1970; ... The Patriot Act also requires
    broker/dealers to ... Privacy of Consumer Financial Information In 2000, the ...

  • Bankruptcy Protection For Your Accounts

    http://www.investopedia.com/articles/retirement/06/BankruptcyProtection.asp
    ... Protection for non-ERISA plans became uniform when the Bankruptcy Abuse Prevention
    and Consumer Protection Act of 2005 (BAPCPA) was signed into law on April 20 ...

  • Water Cooler Finance: Poverty Rates Increase - And So Do ...

    http://financialedge.investopedia.com/financial-edge/0910/Water-Cooler-Finance-Poverty-Rates-Increase---and-So-Do-Millionaires.aspx
    ... new bureau praised its championing of consumer protection, while critics ... lead to
    less innovation in the financial industry ... more on the Dodd-Frank Act, read The ...

  • What The New Mortgage Lending Rules Really Mean - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0511/What-The-New-Mortgage-Lending-Rules-Really-Mean.aspx
    ... Changes The Dodd-Frank Wall Street Reform and Consumer Protection Act passed in ... The
    act addresses numerous components of the financial services industry. ...

  • The Banking Industry In 2012 - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/The-Banking-Industry-In-2012.aspx
    ... The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law in
    2010, was Congress' response to the role of financial institutions in the ...

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