Office address: 1700 G Street NW, Washington, DC 20552
Website: consumerfinance.gov
Year established: 2010
Company type: government agency
Employees: 200+ (2025) Expertise: consumer protection, financial regulation, enforcement, financial education, market research, anti-discrimination, complaint resolution, rulemaking, supervision, stakeholder engagement
Parent company: Federal Reserve System Key people: Russ Vought (acting director); Zixta Martinez (deputy director); Jocelyn Sutton (deputy CoS); Adam Martinez (COO); Chris Johnson, Melissa Brand, and Frank Vespa-Papaleo (assistant directors)
Financing status: N/A
The Consumer Financial Protection Bureau (CFPB) is a federal agency in Washington that ensures fair treatment for financial consumers. It enforces federal consumer financial laws, supervises financial companies, and offers resources in eight languages.
The bureau has handled over 6.8 million complaints as of December 2024. The agency has secured $21 billion in relief for consumers and continues to work toward fair, clear financial markets.
The CFPB was created in 2010 after the financial crisis, when Congress saw a need for a watchdog focused on regular people. The bureau officially launched in July 2011, with Senator Elizabeth Warren helping shape its mission and Richard Cordray as its first director.
The Consumer Financial Protection Bureau quickly put new rules in place for mortgages and prepaid accounts. The agency aimed to prevent the risky lending and lack of oversight that had contributed to the crisis just a few years earlier.
Its teams cracked down on illegal practices and returned billions of dollars to people who were wronged by lenders. The CFPB also made it easier for people to file complaints and get help with financial products, which shaped its future work.
During the COVID-19 pandemic in 2020, the Consumer Financial Protection Bureau helped Americans get relief payments and find housing support. Over the years, the bureau processed millions of complaints and delivered more than $14 billion in relief to consumers.
In early 2025, the Trump administration's return brought major challenges for the Consumer Financial Protection Bureau. Elon Musk's DOGE team, focused on government cuts, locked CFPB employees out and told them to stop working.
Acting director Russell Vought moved to defund the bureau, and the staff union went to court for help. The agency's website showed errors, its headquarters closed, and lawsuits against major banks like JPMorgan Chase and Bank of America were dropped. This left many wondering what would happen next to consumer protection in the US.
The Consumer Financial Protection Bureau provides services and resources that help people navigate and resolve financial product issues.
The bureau is also known for returning billions to consumers and making complaint data public. The Consumer Financial Protection Bureau's focus on transparency and access helps people make informed choices and protects them from unfair treatment.
The Consumer Financial Protection Bureau states that its mission is to regulate, enforce, and educate under federal consumer financial laws. The bureau's values are:
According to the agency, it values diversity, invests in staff growth, and seeks to reflect the public it serves. The Consumer Financial Protection Bureau highlights several workplace programs and opportunities:
These workplace programs and opportunities help the bureau build a skilled, mission-driven team and encourage a broad range of perspectives. The Consumer Financial Protection Bureau's initiatives support both new and experienced professionals in public service.
Russ Vought is the acting director of the Consumer Financial Protection Bureau, appointed by President Trump in February 2025. Before this, Vought led the Office of Management and Budget and worked at Heritage Action for America. He holds a bachelor's degree from Wheaton College and a law degree from George Washington University.
The Consumer Financial Protection Bureau's leadership team includes experienced professionals who oversee key divisions and guide the agency's work:
Most divisions report directly to the Office of the Director, while operations report to the deputy director. This structure helps the CFPB manage its mission and maintain accountability across all teams.
After delaying refunds to customers, the Consumer Financial Protection Bureau ordered Chime Financial to pay millions in 2024. The agency also required Chime, a San Francisco-based fintech company, to improve its refund process and pay into the victim relief fund. This action sets a clear standard for fair treatment in the fintech industry.
The bureau also created a rule to stop credit agencies from counting medical debt against people's credit scores. Although the rule was designed to help over 100 million Americans, a federal court blocked it in late 2025, leaving its future uncertain. This setback means many families may still face higher loan costs, but the CFPB's efforts highlight the need for fairer credit reporting.
The bank's settlement with the Consumer Financial Protection Bureau deals with a variety of allegations and includes a $1.7 billion fine that's the biggest in CFPB history.
The Consumer Financial Protection Bureau is pressuring the bank to pay the fine to settle a series of investigations into the bank's mistreatment of customers.
The firm is in talks with the Consumer Financial Protection Bureau regarding cases involving automobile lending, consumer-deposit accounts and mortgage lending.
The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
At midyear, the bank’s own internal forecast estimated the business would post a record loss of more than $1.2 billion this year.
The bank, which once made one out of every three home loans in the U.S., plans to trim its mortgage business after years of struggles with regulatory probes.
The bank approved Black homeowners seeking to refinance mortgages in the pandemic at a far lower rate than white ones.
Legislation would establish a program that provides $10 million annually to states to investigate, prosecute abuse.
The Office of the Comptroller of the Currency terminated an order related to add-on products, in another sign of progress for CEO Charlie Scharf's efforts to turn the bank around.
Regulators are privately signaling that they're still not satisfied with the bank's progress in compensating victims and shoring up controls.
Investment banks saw a rise in revenue per employee last year, but that doesn't seem to have translated into big rewards for workers.
A Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
The two senators call on the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau to remove Sloan from the bank's top job
Replacing actors such as Tom Selleck in TV ads, academics with interests in the industy are putting a positive spin on reverse mortgages.
House Financial Services committee will grill the CEO Tuesday about the progress he's made in resolving the bank's scandals.
