On 7/21/21, the CFPB announced that they were celebrating the 10th anniversary of the Consumer Financial Protection Bureau. In their release, the CFPB explained that they were proud to celebrate 10 years of protecting consumers, and that they look forward to the next decade of consumer protection.

The CFPB explained some of their accomplishments over the last 10 years, including:

Enforcement and supervisory efforts resulted in approximately $14.4 billion in relief for consumers, and $1.7 billion in civil penalties.
Delivering economic redress to more than 183 million consumers and consumer accounts.
Receiving and processing over 3 million consumer complaints.
Providing access to COVID-19 educational content to over 7 million consumers.

In the decade to come, the CFPB explains that they will continue to use all the tools at their disposal to empower American consumers and work to ensure the financial markets they interact with are fair, transparent, and competitive.

The CFPB release can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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