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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 ...
Senate Republicans backed a Wednesday effort from Texas GOP Sen. Ted Cruz to defund the Consumer Financial Protection Bureau (CFPB). Cruz has unsuccessfully tried to disassemble the agency in the ...
The court in a 7-2 vote ruled that the funding structure of the Consumer Financial Protection Bureau (CFPB), which allows the agency to be funded directly by the Federal Reserve, is ...
Dodd–Frank Wall Street Reform and Consumer Protection Act; Long title: An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
Billionaire Elon Musk, a key adviser to the incoming Trump administration, called for the Consumer Financial Protection Bureau to be eliminated, setting his sights on a regulator that has often ...
State regulations vary from state to state. While each state approaches financial privacy differently, they mostly draw from federal laws and provide more stringent outlines and definitions. Government agencies like the Consumer Financial Protection Bureau and the Federal Trade Commission provide enforcement for financial privacy regulations.
In 2023 the agency allowed a CFPB data breach in which an employee, since discharged, surreptitiously transferred CFPB-held personal information for 256,000 consumers from forty-five financial institutions to a personal email account, in what the agency termed a "major [data breach] incident", an event that led to Congressional investigation.
The agency alleged last week that for approximately two years starting in 2021, Walmart and Branch violated federal law by forcing 1 million drivers on its so-called Spark program to use Branch to ...