Consumer Financial Protection Bureau

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/consumer-financial-protection-bureau

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Who wrote Consumer Financial Protection Bureau?Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)
2. What is the agency status?Independent bureau within the Federal Reserve System
3. What is the total consumer relief?Over $21 billion returned to consumers through enforcement actions
4. Why was the CFPB created after the 2008 financial crisis?It was created in 2010 to stop bad practices that hurt people during the Great Recession and to protect families from unfair money deals.
5. How does the CFPB help families get money back from bad practices?It has recovered more than $21 billion for people who were cheated by banks or other companies, giving them real money back.

Financial Crisis: A severe disruption in financial markets and institutions, often leading to economic recession and widespread financial hardship.
Dodd-Frank Act: A comprehensive piece of U.S. federal legislation enacted in 2010 to reform the financial system and enhance consumer protection.
Regulatory Authority: The power of a government agency to create and enforce rules and standards within a specific industry or sector.
Enforcement Actions: The legal steps taken by a regulatory agency to ensure compliance with laws and regulations, often involving penalties or corrective measures.