The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created the Bureau of Consumer Financial Protection-also known as the Consumer Financial Protection Bureau (CFPB)-to regulate the offering and provision of consumer financial products or services under the federal consumer financial laws. According to the act, CFPB's mission is to implement and enforce federal consumer financial law consistently to ensure that markets for consumer financial services and products are fair, transparent, and competitive, among other things. The act directs CFPB to carry out its mission by, among other things, collecting, researching, monitoring, and publishing information relevant to the functioning of markets for consumer financial products and services to identify risks to consumers and the proper functioning of such markets. Prior to and during the 2007-2009 financial crisis, we and others noted that the lack of data on consumer financial products and services hindered federal oversight in areas such as mortgages and fair lending.
Congress created the Consumer Financial Protection Bureau (CFPB) in 2010 as an independent agency to regulate the provision of consumer financial products and services, such as mortgages and student loans. CFPB has begun collecting consumer financial data from banks, credit unions, payday lenders, and otherinstitutions. This report examined CFPB's collection of consumer financial data. It addresses (1) the scope, purposes, uses, and authorities of CFPB consumer financial data collections; and (2) CFPB's compliance with laws and federal requirements, including government-wide privacy and information security requirements. Tables and figure. This is a print on demand report.
Some vols. include supplemental journals of "such proceedings of the sessions, as, during the time they were depending, were ordered to be kept secret, and respecting which the injunction of secrecy was afterwards taken off by the order of the House."
Welcome to the Consumer Financial Protection Bureau's Your Money, Your Goals: A financial empowerment toolkit for social services programs! If you're reading this, you are probably a case manager, or you work with case managers. Finances affect nearly every aspect of life in the United States. But many people feel overwhelmed by their financial situations, and they don't know where to go for help. As a case manager, you're in a unique position to provide that help. Clients already know you and trust you, and in many cases, they're already sharing financial and other personal information with you. The financial stresses your clients face may interfere with their progress toward other goals, and providing financial empowerment information and tools is a natural extension of what you are already doing. What is "financial empowerment" and how is it different from financial education or financial literacy? Financial education is a strategy that provides people with financial knowledge, skills, and resources so they can get, manage, and use their money to achieve their goals. Financial education is about building an individual's knowledge, skills, and capacity to use resources and tools, including financial products and services. Financial education leads to financial literacy. Financial empowerment includes financial education and financial literacy, but it is focused both on building the ability of individuals to manage money and use financial services and on providing access to products that work for them. Financially empowered individuals are informed and skilled; they know where to get help with their financial challenges. This sense of empowerment can build confidence that they can effectively use their financial knowledge, skills, and resources to reach their goals. We designed this toolkit to help you help your clients become financially empowered consumers. This financial empowerment toolkit is different from a financial education curriculum. With a curriculum, you are generally expected to work through most or all of the material in the order presented to achieve a specific set of objectives. This toolkit is a collection of important financial empowerment information and tools you can access as needed based on the client's goals. In other words, the aim is not to cover all of the information and tools in the toolkit - it is to identify and use the information and tools that are best suited to help your clients reach their goals.
