Getting to Know the CFPB: 10 Key Facts
1. The CFPB does not have any financial oversight from Congress and is not accountable for its regulatory actions to Congress or any government regulatory agency.
2. The Bureau has jurisdiction to create regulations that impact almost every aspect of the financial industry—from banking services and mortgages to realtors and retailers. Broad powers previously split between seven different federal agencies now belong exclusively to the CFPB.
