Before the CFPB, there was no single agency or entity within the federal government tasked with protecting Americans from predatory or negligent practices of banks, credit card companies, mortgage lenders, payday lenders, credit rating agencies and other financial service businesses.

For far too long we have continued to mark our military prowess by the size of our forces: believing that numbers of ships, planes, and brigades is what most matters - just like during the Cold War.

Created by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB was a direct response to the financial crisis and ensuing Great Recession that began with the subprime mortgage debacle and the unraveling of Lehman Brothers investment bank.

Joe Sestak Quotes