Consumer Protection Act (CFPA)
& What it Does

The Consumer Financial Protection Act (CFPA) established rules concerning certain financial products and services. The Act also established an agency to create enforcement regulations. The agency is known as the Consumer Financial Protection Bureau (CFPB). Among other things, the CFPA gives the agency the ability to oversee aspects of the debt collection industry. Combined with other statutes, the CFPA provides consumers with an extra layer of protection against unfair and misleading collection practices.