Does the CFPB have enforcement authority?
CFPB has no criminal enforcement authority.
What is a CFPB enforcement action?
When we take an enforcement action against an entity or person we believe has violated the law, we will post court documents and other related materials here. The Bureau may enforce the law by filing an action in federal district court or by initiating an administrative adjudication proceeding.
What is the CFPB and what do they do?
The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making regulations more effective, consistently and fairly enforcing rules, and empowering consumers to take more control over their economic lives.
What laws do the CFPB enforce?
The CFPB will enforce over a dozen consumer financial protection laws, including the Fair Credit Reporting , Fair Debt Collection Practices Act, and Truth-in-Lending Act.
Does the CFPB regulate private lenders?
We have supervisory authority over banks, thrifts, and credit unions with assets over $10 billion, as well as their affiliates. In addition, we have supervisory authority over nonbank mortgage originators and servicers, payday lenders, and private student lenders of all sizes.
Does the CFPB have authority to issue new regulations?
Rulemaking. The CFPB aims to makes rules governing consumer finance markets more effective and to create new rules when warranted. You can also learn about how the CFPB works with the Small Business Review Panel on rules that could have significant economic impacts on small entities.
What does the CFPB investigate?
When the CFPB launches an investigation, it operates under its procedures for investigating whether persons have engaged in conduct that violates federal consumer financial law. CFPB investigations generally will not be made public by the Bureau until a public enforcement action is filed or consent order is issued.
How do I file a complaint with the CFPB?
The fastest way to get started is to go consumerfinance.gov/complaint. If you need help while you’re online, you can chat with one of our team members on the site. You can also submit a complaint over the phone by calling us at (855) 411-CFPB (2372), toll free.
What is the role of the CFPB?
We aim to make consumer financial markets work for consumers, responsible providers, and the economy as a whole. We protect consumers from unfair, deceptive, or abusive practices and take action against companies that break the law.
What is the mission of the CFPB?
Mission Statement To make markets for consumer financial products and services work for Americans by promoting transparency and consumer choice and preventing abusive and deceptive financial practices.
What is the CFPB rule?
Rules and policy. The CFPB implements and enforces federal consumer financial laws to ensure that all consumers have access to markets for consumer financial products and services that are fair, transparent, and competitive.
How many states are regulated by CFPB?
We’ve compiled a listing of the consumer financial protection resources specifically intended for servicemembers, veterans, and their families in each of the 50 states.
What does the Operations Division of the CFPB do?
The Operations Division front office supports the COO and provides project management and internal communications support for the Bureau. The Office of Administrative Operations performs a wide range of functions related to the Bureau’s infrastructure and security.
What does the Office of enforcement do for You?
The Office of Enforcement enforces federal consumer financial laws by investigating cases of potential wrongdoing and taking legal action where appropriate.
What does the Office of supervision and enforcement do?
This division ensures compliance with federal consumer financial laws by supervising market participants and bringing enforcement actions when appropriate. It includes the Office of Supervision Examinations, the Office of Supervision Policy and the Office of Enforcement.
What to ask a consumer financial protection bureau employee?
Ask a Bureau employee to be involved in a forum, publication, discussion, or other event; or to inquire about any Bureau events.