What is the federal Consumer Financial Protection Bureau?

The federal Consumer Financial Protection Bureau (CFPB) is a governmental agency tasked with protecting consumers in the financial sector. It was created in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is responsible for making sure that consumers have access to financial products and services that are fair, transparent, and competitive, as well as for protecting borrowers against predatory and unfair practices. The CFPB operates at the federal level, but its rules and regulations are also applicable in California. This means that the CFPB has the power to enforce the law in California and to pursue companies that have violated state and federal financial laws. It also has the power to investigate complaints brought against banks and other financial institutions, as well as to provide oversight and monitoring of their practices. The CFPB provides guidance on a range of topics, such as debt collection and credit card agreements. It also offers resources, such as forms for filing a complaint and educational materials, which can help consumers understand their rights under the law. Ultimately, the CFPB works to ensure that consumers in California and across the country can access the financial products and services they need with confidence and trust.

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What is the federal Consumer Financial Protection Bureau?

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