Consumer Financial Protection Bureau - CFPB

AAA

DEFINITION of 'Consumer Financial Protection Bureau - CFPB'

A regulatory agency charged with overseeing financial products and services that are offered to consumers. The Consumer Financial Protection Bureau is divided into several units, including: research, community affairs, consumer complaints, the Office of Fair Lending and the Office of Financial Opportunity. These units work together to protect and educate consumers about the various types of financial products and services that are available.

INVESTOPEDIA EXPLAINS 'Consumer Financial Protection Bureau - CFPB'

The Consumer Financial Protection Bureau was created by the Dodd-Wall Street Reform and Protection Consumer Act of 2010. The CFPB is headed by a chief who is appointed by the President for a five-year term. The bureau is also assisted by a Consumer Advisory Council, composed of at least six members who are recommended by regional Federal Reserve presidents.

RELATED TERMS
  1. Consumer Advisory Council - CAC

    A legislative body established by Congress in 1976. The Consumer ...
  2. Consumer Financial Protection Act

    An amendment to the National Bank Act designed to identify and ...
  3. Primary Regulator

    The state or federal regulatory agency that is the primary supervising ...
  4. Federal Reserve Regulations

    Rules put in place by the Federal Reserve Board to regulate the ...
  5. Securities Investor Protection ...

    A nonprofit corporation created by an act of Congress to protect ...
  6. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
Related Articles
  1. Credit & Loans

    What are my rights under the Fair Debt Collection Practices Act (FDCPA)?

    Read about the rights and protections granted to you as a debtor under the Fair Debt Collections Practices Act, and learn how to respond to creditor violations.
  2. Credit & Loans

    What is the difference between available credit and credit limit?

    Explore the difference between available credit and credit limit and the implications different account balances have on fees, interest rates and charges.
  3. Personal Finance

    Consumer Protection Laws You Need To Know

    Knowing these which consumer protection law can help you in particular situations can save you time, money and stress.
  4. Professionals

    Investigating The Securities Police

    Learn about the history of FINRA and how this organization protects investors.
  5. Credit & Loans

    The Wall Street Reform Act: What You Need To Know

    What is in the Act, how will it impact most Americans, and what should investors do?
  6. Options & Futures

    Tips For Resolving Disputes With Your Financial Advisor

    Before you blame your advisor for your losses, be sure you know your rights and responsibilities.
  7. Investing Basics

    Policing The Securities Market: An Overview Of The SEC

    Find out how this regulatory body protects the rights of investors.
  8. Personal Finance

    Avoiding Online Investment Scams

    Find out how to spot internet fraud and protect your hard-earned money.
  9. Options & Futures

    Financial Regulators: Who They Are And What They Do

    Find out how these government agencies govern the financial markets.
  10. Personal Finance

    Who's Looking Out For Investors?

    If your account has been mishandled, FINRA and the SEC are among several organizations that can help.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center