What is the Consumer Financial Protection Bureau?

The Consumer Financial Protection Bureau (CFPB) is a federal agency based in Washington, D.C. that was created in 2010 to protect consumers from unfair, deceptive, or abusive practices in the provision of consumer financial products or services. The CFPB is directed by a director appointed by the President of the United States and confirmed by the Senate for a five-year term. In Oregon, the CFPB has the authority to investigate consumer complaints against banks, lending companies, debt collectors, and other financial services providers. It can also promote consumer financial education, enforce consumer protection laws, and ensure that all consumer financial products and services are provided fairly. The CFPB also provides information to consumers about their rights under banking law, including information about scams and frauds. It also has the authority to investigate complaints that have been filed against bankers or lenders. The CFPB’s goal is to ensure that consumers have the information they need to make informed decisions about their finances and to protect them from unfair practices when it comes to banking services. In Oregon, the CFPB works with the state’s Department of Consumer and Business Services to ensure that banks and lenders are providing fair and honest services.

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What is the Consumer Financial Protection Bureau?

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