The Consumer Financial Protection Bureau CFPB was created to

The Consumer Financial Protection Bureau (CFPB) was created to represent consumers by filing suit in federal court asking for damages on behalf of the injured consumer.

TRUE or FALSE?

(This is for Business Law Class)

Solution

In 2010 Congress created CFPB for regulating consumer financial products and services. It includes mortgages, credit card, and private student loan. CFPB ensures that consumers are treated fairly in the marketplace. It helps the consumers harmed by illegal practice.

So the given statement is false.