Consumer Financial Protection Bureau
It is responsible for consumer protection in the financial sector. They work within banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States.
The CFPB's creation was made by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the eventual Great Recession. The CFPB was established as an independent agency, but this status is being reviewed by the U.S. Court of Appeals.
List of directors[change | change source]
Special advisor for the CFPB Acting Director
|No.||Portrait||Name||State of residence||Took office||Left office||Days served||Presidents|
|–||Elizabeth Warren||Massachusetts||September 17, 2010||August 1, 2011||318||Barack Obama|
|–||Raj Date||Washington, D.C.||August 1, 2011||January 4, 2012||156|
|1||Richard Cordray||Ohio||January 4, 2012||November 24, 2017||1843|
|–||Mick Mulvaney||South Carolina||November 25, 2017||December 10, 2018||380|
|2||Kathleen Kraninger||Ohio||December 11, 2018||Incumbent||566|
References[change | change source]
- Eaglesham, Jean (February 9, 2011). "Warning Shot On Financial Protection". The Wall Street Journal. Retrieved February 10, 2011.
- Wattles, Jackie (November 24, 2017). "Richard Cordray resigns as head of Consumer Financial Protection Bureau". CNN Money.