With the Consumer Financial Protection Bureau (CFPD) falling under increased scrutiny, it is important to note how the regulatory agency has striven to protect consumers since its creation six years ago. These are just some of the ways the CFPD may have had an impact on your wallet:
1. Responding to the Wells Fargo Account Scandal
The CFPD hit Wells Fargo
with a $100 million fine after news of its account scandal broke.
2. Providing Protection Against Illegal Student Loan Collection
The CFPD punished Citibank
for misleading servicing practices that harmed borrowers.
3. Launching "Know Before You Owe"
The series of campaigns strives to increase transparency among banks, credit cards and student loans.
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Editors' Pick: Originally published on November 28, 2017.