Grading the CFPB: Positive impact despite spending


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What is the Consumer Financial Protection Bureau?

The Consumer Finance Protection Bureau was established nearly three and a half years ago to protect consumers in the financial sector, and is at the center of a lot of political wrangling. Yet, in its short life, it’s made a positive impact on thousands of consumers.

CFPB Director Richard Cordray reported to the Senate in June that the bureau has refunded billions of dollars to victimized consumers, fined wrongdoers of millions, and initiated consumer education and financial literacy programs.

See how Bankrate grades the consumer protection agency after more than three years in operation.