3 Ways the CFPD Has Worked to Protect Your Wallet

Here's just a few things the CFPD has done to protect consumers and increase transparency among lenders.
Publish date:

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

(WFC) - Get Report

with a $100 million fine after news of its account scandal broke.

2. Providing Protection Against Illegal Student Loan Collection

The CFPD punished Citibank

(C) - Get Report

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.

Watch More with TheStreet:

Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.

Editors' Pick: Originally published on November 28, 2017.