Dodd-Frank Act: Consumer Financial Protection Bureau (CFPB)

An objective of the Dodd-Frank Act is to regulate those that offer or provide consumer financial products or services. The Consumer Financial Protection Bureau (CFPB) was specifically created to achieve this objective. Here we describe the role of the CFPB and associated offices in protecting consumers from abusive financial services practices. We also describe its organizational structure and duties, before discussing the controversies surrounding its creation.