Organizations

    CFPB (Consumer Financial Protection Bureau): Definition

    The federal agency regulating consumer financial products.

    Definition

    The Consumer Financial Protection Bureau (CFPB) is the federal agency responsible for consumer protection in the financial sector. It has supervisory authority over credit bureaus and large data furnishers, enforces FCRA compliance, and issues regulations like Regulation V.

    Usage Notes

    • Primary enforcer of FCRA for large companies
    • Issues guidance on credit reporting issues
    • Accepts consumer complaints about credit reporting

    External Resources

    Related Terms

    FCRA (Fair Credit Reporting Act)Regulation VCRA (Consumer Reporting Agency)

    More Organizations

    CDIA (Consumer Data Industry Association)
    The trade association representing consumer reporting agencies.
    CRA (Consumer Reporting Agency)
    An organization that collects and sells consumer credit information.
    Equifax
    One of the three major national credit bureaus.
    Experian
    One of the three major national credit bureaus.
    TransUnion
    One of the three major national credit bureaus.

    Simplify Credit Reporting

    Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.

    View PricingBrowse All Terms