Consumer Financial Protection Bureau (CFPB)

Updated 2026-05-18

The Consumer Financial Protection Bureau (CFPB) is the U.S. federal agency charged with consumer protection in financial products and services. Created by Title X of the Dodd-Frank Act in 2010, it writes and enforces rules for laws such as TILA and RESPA, supervises covered firms, educates consumers, and runs a public complaint system. In mortgage origination it is central to ATR/QM, TRID disclosures, LO compensation, HOEPA, and related Regulation Z and X standards.

Responsibilities

• Rulemaking: Developing and issuing regulations to implement federal consumer financial laws, such as the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA).
• Enforcement: Taking action against companies that violate consumer financial laws.
• Supervision: Overseeing banks, credit unions, and other financial companies to ensure compliance with federal consumer financial laws.
• Consumer Education: Providing educational resources to help consumers make informed financial decisions.
• Complaint Handling: Operating a public complaint system to address consumer issues with financial products and services.

In the mortgage industry, the CFPB plays a critical role in defining and enforcing standards like the Ability-to-Repay (ATR) Rule and Qualified Mortgage (QM) standards, which are designed to protect consumers from unaffordable loans and ensure responsible lending practices.

What MLOs must know for the SAFE exam

• The CFPB was created by Dodd-Frank Title X and is the primary federal consumer-finance regulator for mortgage disclosure and many origination rules.
• Core mortgage tools include Regulation Z (TILA), Regulation X (RESPA), ATR/QM, LO compensation/anti-steering, HOEPA, and TRID forms and timing.
• CFPB roles include rulemaking, supervision/exams, enforcement, consumer education, and complaint handling.
• UDAAP authority allows the Bureau to address unfair, deceptive, or abusive practices even when no narrower statute is violated.