New Federal Agency Consumer Financial Protection Bureau

New Federal Agency Consumer Financial Protection Bureau

There is a new federal agency and bureaucracy that is about to launch itself July 21, 2011. This agency is The Consumer Financial Protection Bureau. This new agency is now soliciting suggestions and comments at their web site http://www.consumerfinance.gov/.

Dr. Elizabeth Warren has been busy creating a proposed structure of the agency.  The bureau will be organized into six distinct departments:

   a.  Department of the Chief Operating Officer

   b.  Department of Consumer Engagement and Education

   c.  Department of Research, Markets, and Regulation

   d.  Department of Supervision and Enforcement

   e.  Office of the General Counsel

   f.   Department of External Affairs.