What is the Consumer Financial Protection Bureau?
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established the Consumer Financial Protection Bureau (CFPB). On July 21, 2011, the CFPB took over responsibility for handling certain consumer complaints against the nation's largest financial institutions (total assets more than $10 billion). These currently include the following credit unions:
- Navy Federal Credit Union
- Pentagon Federal Credit Union
- State Employees Credit Union (North Carolina)
- Boeing Employees Federal Credit Union
The CFPB also took over supervision of large non-bank entities, such as credit reporting agencies and debt collection companies.
To learn more about the CFPB and its responsibilities, click here.
To file a complaint with the CFPB, click here.
The NCUA Consumer Assistance Center will continue to help consumers find and connect with the proper federal regulator for state and federal credit unions, as well as, other financial institutions they have complaints about.
If you need assistance with filing a complaint, please contact us.