ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Consumer Financial Protection Bureau helps consumers by providing educational materials and accepting complaints. It supervises banks, lenders, and large non-bank entities, such as credit reporting agencies and debt collection companies.

Detailed explanation-2: -The CFPB is funded by authorized transfers from the Federal Reserve System, subject to limits established in the Dodd-Frank Act. The CFPB is also authorized to request up to $200 million in discretionary appropriations if the amount transferred by the Federal Reserve System is not sufficient.

Detailed explanation-3: -The CFPB is divided into several units-research, community affairs, consumer complaints, the Office of Fair Lending, and the Office of Financial Opportunity.

Detailed explanation-4: -The Consumer Financial Protection Bureau was originally created to do what? Receive and investigate complaints from consumers, and enforce laws pertaining to the banking and financial system.