Consumer Financial Protection Bureau(CFPB)

Agency

Legal Definition of Consumer Financial Protection Bureau

executive branch agency responsible for enforcing federal consumer financial protection laws. The CFPB was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In carrying out its mandate, the CFPB writes and enforces rules designed to protect consumers, takes consumer complaints, promotes financial education of consumers, researches consumer behavior, and monitors the financial markets for things that might pose a financial risk to consumers.