U.S. Code » Title 12 » Chapter CHAPTER 53— WALL STREET REFORM AND CONSUMER PROTECTION › Subchapter SUBCHAPTER V— BUREAU OF CONSUMER FINANCIAL PROTECTION › Part Part B— General Powers of the Bureau

12 U.S.C. § 5511

Purpose, objectives, and functions

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(a) Purpose

The Bureau shall seek to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive.

(b) ObjectivesThe Bureau is authorized to exercise its authorities under Federal consumer financial law for the purposes of ensuring that, with respect to consumer financial products and services—(1) consumers are provided with timely and understandable information to make responsible decisions about financial transactions;(2) consumers are protected from unfair, deceptive, or abusive acts and practices and from discrimination;(3) outdated, unnecessary, or unduly burdensome regulations are regularly identified and addressed in order to reduce unwarranted regulatory burdens;(4) Federal consumer financial law is enforced consistently, without regard to the status of a person as a depository institution, in order to promote fair competition; and(5) markets for consumer financial products and services operate transparently and efficiently to facilitate access and innovation.(c) FunctionsThe primary functions of the Bureau are—(1) conducting financial education programs;(2) collecting, investigating, and responding to consumer complaints;(3) collecting, researching, monitoring, and publishing information relevant to the functioning of markets for consumer financial products and services to identify risks to consumers and the proper functioning of such markets;(4) subject to sections 5514 through 5516 of this title, supervising covered persons for compliance with Federal consumer financial law, and taking appropriate enforcement action to address violations of Federal consumer financial law;(5) issuing rules, orders, and guidance implementing Federal consumer financial law; and(6) performing such support activities as may be necessary or useful to facilitate the other functions of the Bureau.(Pub. L. 111–203, title X, § 1021, July 21, 2010, 124 Stat. 1979.)Statutory Notes and Related SubsidiariesEffective Date

Pub. L. 111–203, title X, § 1029A, July 21, 2010, 124 Stat. 2005, provided that: “This subtitle [subtitle B (§§ 1021–1029A), enacting this part] shall become effective on the designated transfer date, except that sections 1022, 1024, and 1025(e) [12 U.S.C. 5512, 5514, and 5515(e)] shall become effective on the date of enactment of this Act [July 21, 2010].”

[The term “designated transfer date” is defined in section 5481(9) of this title as the date established under section 5582 of this title.]

Notes of Decisions
Cited in 41 cases (18 in the last 5 years), 2013–2025 · leading case: PHH Corp. v. Consum. Fin. Prot. Bureau, 881 F.3d 75 (D.C. Cir. 2018).
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PHH Corp. v. Consum. Fin. Prot. Bureau, 881 F.3d 75 (D.C. Cir. 2018). · cites it 2× “, 12 U.S.C. § 5511 (outlining the purpose, objectives, and functions of the CFPB), and the President assesses whether the officer has produced the “desired effect.”
John Doe Co. v. Consum. Fin. Prot. Bureau, 849 F.3d 1129 (D.C. Cir. 2017). · cites it 2× “In November 2016, the Consumer Financial Protection Bureau issued a Civil Investigative Demand (“CID”) to the Company pursuant to its statutory authority, 12 U.S.C. § 5562 (c)(1). Congress authorized the Bureau to issue CIDs to collect information relevant to the enforcement of…”
Cmty Fin Assoc Am. v. CFPB, 51 F.4th 616 (5th Cir. 2022). · cites it 2× “12 U.S.C. § 5511 (a)–(b). The Bureau’s “purpose” is “to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for…”
Navajo Nation v. Wells Fargo & Co., 344 F. Supp. 3d 1292 (D.N.M. 2018). · cites it 3× “See 12 U.S.C. §§ 5511 , 5552. And no provision of the statute expressly prohibits successive litigation by a nonparty to the first suit.”
Consum. Fin. Prot. Bureau v. ITT Educ. Servs., Inc., 219 F. Supp. 3d 878 (S.D. Ind. 2015). · cites it 3× “” 12 U.S.C. § 5511 (a). Counts One through Three of the Complaint allege that ITT engaged in “unfair” and “abusive” acts or practices, in violation of the CFPA’s operative provisions, 12 U.”
Pennsylvania v. Navient Corp., 354 F. Supp. 3d 529 (M.D. Penn. 2018). · cites it 2× “at 14 (citing 12 U.S.C. § 5511 (a) (emphasis added in Navient's Brief in Support) ).”
Consum. Fin. Prot. Bureau v. Great Plains Lending, LLC, 846 F.3d 1049 (9th Cir. 2017). · cites it 2× “12 U.S.C. § 5511 (a). The “primary functions” of the Bureau include “collecting, investigating, and responding to consumer complaints,” and, to accomplish its objectives, “[t]he Bureau is authorized to exercise its authorities under Federal consumer financial law” to ensure that…”
Consum. Fin. Prot. v. Seila Law LLC, 923 F.3d 680 (9th Cir. 2019). “…and services and that markets for consumer financial products and services are fair, transparent, and competitive.” 12 U.S.C. § 5511 (a). The agency’s powers include, among other things, the authority to promulgate rules (§ 5512), conduct investigations (§ 5562), adjudicate…”
Linton v. Consum. Prot. Div., 225 A.3d 456 (Md. 2020). “Six months after the Linton action was filed, the Federal Consumer Financial Protection Bureau (CFPB), chartered by Congress to enforce the Consumer Financial Protection Act of 2010 ( 12 U.S.C. §§ 5511 , 5497(d), and 5565), filed a similar action against the same defendants, for…”
Consum. Fin. Prot. Bureau v. Accrediting Council for Indep. Colleges & Schs., 854 F.3d 683 (D.C. Cir. 2017). “]” 12 U.S.C. § 5511 (c)(4). Pursuant to its investigative authority, the Bureau may issue CIDs requiring the production of documents and oral testimony from “any person” that it believes may be in possession of “any documentary material or tangible things, or may have any…”
CFPB v. Consum. First Legal Grp., LL, 6 F.4th 694 (7th Cir. 2021). “12 U.S.C. § 5511 (b)(2). We need not conclusively resolve this matter, because Ap- pellants forfeited their argument by failing to raise it before the district court.”
Laverpool v. Taylor Bean & Whitaker Reo LLC, 229 F. Supp. 3d 5 (D.D.C. 2017). “12 U.S.C. § 5511 (a). 20 . Paragraphs 71-77 of the Amended Complaint are newly added by Plaintiff.”
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