Jump to Content
ABA: The American Bankers Association

Consumer Financial Protection Act

Title X of Dodd-Frank, also known as the Consumer Financial Protection Act of 2010, created the Consumer Financial Protection Bureau which has broad authority to administer, enforce, and implement federal consumer financial protection laws.

The Consumer Financial Protection Act of 2010 created the Consumer Financial Protection Bureau which opened its doors in 2011. The Bureau has supervision authority for depository institutions with more than $10 billion in assets, and has examination and enforcement powers for financial industry participants that offer consumers financial products.

The Act gave the Bureau broad authority to protect consumers from unfair, deceptive, or abusive acts and practices and transferred lender data collection responsibilities under the Home Mortgage Disclosure Act from the Federal Reserve to the Bureau. The Bureau is also responsible for oversight of mortgage lending and servicing disclosures and requirements under the Truth in Lending Act and the Real Estate Settlement Procedures Act.

The Act also instructed the Bureau to create a database where consumers can submit complaints about financial service companies and products.

Our Experts

Ginny ONeill

Ginny O'Neill

Executive Vice President, Regulatory Compliance and Policy

Contact Ginny

Stay Connected

Risk, Compliance & Financial Crimes Email Bulletin

A weekly information resource with ABA news, analysis and resources, specifically selected to meet risk, compliance and fraud professionals’ unique content needs. (Bank members only)

Open Compliance Committee

Learn about new regulatory initiatives, share common compliance concerns, and seek input from peers on compliance challenges.

Compliance Network

The ABA Compliance Network is a members only online forum facilitating discussion of compliance topics and providing opportunity for professional interaction.