The Consumer Financial Protection Bureau (CFPB) is the government agency that was dreamed up by now-Senator Elizabeth Warren. It’s tasked with helping consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.
In the short time the CFPB has been around (they got started in 2011), the Bureau has already returned over $10 billion to consumers scammed by their financial institutions.
Here are a few more facts about the CFBP’s achievements since they began in 2011.
CONSUMER FINANCIAL PROTECTION BUREAU: BY THE NUMBERS
- $10.1 Billion: Approximate amount of relief to consumers from CFPB enforcement activity,including: $2.6 billion in restitution to consumers; and $7.5 billion in principal reductions,cancelled debts,and other consumer relief
- 17 Million: Consumers who will receive relief because of CFPB enforcement actions
- $286 Million: Money ordered to be paid in civil penalties as a result of CFPB enforcement actions
- $248 Million: Monetary relief provided to consumers as a result of CFPB supervisory actions
- 1.8 Million: Consumers who have received relief because of CFPB supervisory actions
- 650,000+: Complaints CFPB has received as of June 2015
- 1,100+: Consumer questions answered in Ask CFPB, an online source for reliable, unbiased answers about financial products, services, and decisions
- 4 Million+: Unique visitors to Ask CFPB
- 147: Banks and credit unions under the CFPB’s supervisory authority as of March 2015
- 30 Million: Consumers with debts in collection; larger debt collection companies are now under federal supervision for the first time
- 12 Million: Consumers who take out payday loans every year; payday lenders are now under federal supervision for the first time
- 2,971: Colleges voluntarily adopting the Financial Aid Shopping Sheet developed by the CFPB and the U.S. Department of Education
- 113: Military installations visited by the Office of Servicemember Affairs since 2011
- 55: Times senior CFPB officials have testified before Congress
- 32: Public town halls and field hearings CFPB has held since 2011
For more about the CFPB, see the report by Americans for Financial Reform, The CFPB: Looking Out for Consumers Since 2011.