What is the Consumer Financial Protection Bureau? (and why you should care)

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I first heard about this U.S. government agency in 2011.

I haven’t been following the CFPB very closely over the last two years. So I did some research this weekend to update myself on its work.

Here’s some background: The Consumer Financial Protection Bureau (CFPB) was set up to regulate financial products and services in the U.S. It was organized by Elizabeth Warren, my favorite bankruptcy expert. The CFPB celebrated its 2nd birthday on July 22. And here’s an infographic/summary of its accomplishments thus far.

The agency has done a lot in the areas of consumer education, transparency of credit cards and loan agreements, and fielding thousands of complaints from the public regarding financial institutions and services.

The CFPB has some ambitious goals coming up for 2014.

Its current efforts include:

I have high hopes for the CFPB and will be following these projects and partnerships through their website and blog.

Related resources:

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