To commemorate its fifth anniversary, the CFPB released a series of “fact sheets” touting its initiatives. The “fact sheets” consist of the following:
- CFPB: By the numbers. The CFPB lists various statistics, such as $11.7 billion in consumer relief, $440 million in civil penalties, 27 million consumers to receive relief as a result of CFPB enforcement and supervisory work, and 937,000 complaints handled, intended to demonstrate the CFPB’s value to consumers.
- CFPB: Establishing strong consumer protections. The CFPB highlights its rulemaking relating to mortgages, remittances and credit cards, describes the categories of non-banks it supervises as “larger participants,” describes its eRegulations resource, describes its proposed arbitration, payday loan and prepaid card rules, discusses its rulemaking plans for debt collection, and discusses its 2012 RFI and June 2013 and August 2014 reports related to overdrafts in connection with its “weighing [of] new consumer protections for checking account overdraft practices.”
- CFPB: Helping consumers help themselves. The CFPB describes its handling of consumer complaints, Know Before You Owe initiatives for mortgage and auto loans, consumer resources such as online tools and sample letters, and consumer advisories.
- CFPB: Enforcing federal consumer protection laws. The CFPB describes its supervisory work and highlights enforcement actions involving credit cards, mortgage servicing, mortgage discrimination, RESPA, mortgage modification scams, auto finance, checking accounts, payday and installment loans, debt collection, student lending, debt relief services, consumer reporting, and wireless cramming.