Five years ago, Congress created the Consumer Financial Protection Bureau through the Dodd-Frank Act. Its sole mission is to protect consumers with regard to financial products, including checking accounts, mortgages, and credit cards. As Susan mentions in this video interview, prior to the creation of the CFPB, oversight of financial products was managed by seven different government agencies. The CFPB’s focus on these types of consumer protections helps to ensure they will be safe, fair, and transparent for all consumers. For more of Susan’s insights on this CFPB milestone, please view her analysis, “Better Banking: The Opportunity and Challenge for the CFPB.”
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