Functions performed by the CFPB
The Consumer Financial Protection Bureau is a U.S. government agency within the Federal Reserve System that empowers consumers with the information they need to make financial decisions in the best interests of the consumers and their families. The CFPB was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The purpose of the CFPB is to promote fairness and transparency for mortgages, credit cards, and other consumer financial products and services. The CFPB will set and enforce clear, consistent rules that allow banks and other consumer financial services providers to compete on a level playing field and that let consumers see clearly the costs and features of products and services.
Federal oversight of the CFPB
The Bureau has primary supervisory and examination authority over certain nondepository and FDIC-insured depository institutions or insured credit unions with assets over $10 billion. Non-depository covered persons include mortgage originators, brokers, and servicers, lenders offering consumer financial products, private education lenders, and payday lenders.
CFPB oversight authority
Alternative Mortgage Transaction Parity Act of 1982
Consumer Leasing Act of 1976
Electronic Fund Transfer Act (EFTA)
Equal Credit Opportunity Act (ECOA)
Fair Credit Billing Act
Fair Credit Reporting Act (FCRA) (with certain exceptions)
Home Owners Protection Act
Fair Debt Collection Practices Act
Federal Deposit Insurance Act (only section 43(b)-(f))
Gramm-Leach-Bliley Act (only section 502 through 509, except section 505 as it applies to section 501(b))
Home Mortgage Disclosure Act (HMDA)
Home Ownership and Equity Protection Act of 1994
Real Estate Settlement Procedures Act (RESPA)
S.A.F.E. Mortgage Licensing Act of 2008 (SAFE Act)
Truth in Lending Act
Omnibus Appropriations Act of 2009 (only section 626)
Interstate Land Sales Full Disclosure Act
Filing complaints with CFPB
The fastest way to get started is to go consumerfinance.gov/complaint
- Website: Consumer Financial Protection Bureau.
- Contact: Contact the Consumer Financial Protection Bureau. Submit a Complaint.
- Main Address: PO Box 2900. Clinton, IA 52733-2900.
- Toll Free: 1-855-411-CFPB (1-855-411-2372)
- TTY: 1-855-729-CFPB (1-855-729-2372)