The Consumer Financial Protection Bureau
"The Consumer Financial Protection Bureau was created to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace."
[ And so it was - until November 2017, when Trump appointed a CFPB opponent as acting head of the agency. See The CFPB Is Under Attack for more. ]
In January 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in response to the 2008 financial crisis.
Prior to this, there were at least seven different regulators who were responsible for various aspects of consumer finance, and some rules had not been updated in many years. As you might imagine there were gaps in coverage, and when you added in a lack of comminication between regulators, the banks and other lenders (especially mortgage brokers and so-called "payday lenders") were left effectively unregulated.
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The CFPB Is Under Attack
Director Richard Cordray resigned from the Consumer Financial Protection Bureau on November 24, 2017, leaving Deputy Director Leandra English in charge as Acting Director.
The Dodd-Frank Act of 2010, which created the CFPB, specifically states that the deputy director becomes “Acting Director in the absence or unavailability of the Director.” According to former Representative Barney Frank (D-Mass), a co-author of the law, this language was specifically added to insulate the independence of the agency from the vagaries of the political process.
Trump, however, immediately said he was appointing Mick Mulvaney, the Senate confirmed (51-49) head of the Office of Management and Budget to also stand as acting director of the CFPB. …