Congress Creates a Consumer Financial Protection Bureau!

At long last, both the House of Representatives and the Senate have passed legislation to create a Consumer Financial Protection Bureau!

This is a huge, hard-fought victory for consumers.  We’ll finally have an agency fully devoted to us, to make sure mortgages, credit cards, and other loans aren’t full of tricks and traps in the fine print.  You can read AFR’s full statement about this victory here.

We’ll be posting more about the CFPB — what it will and won’t be able to do — in future days.  Stay tuned!