The CFPB 's creation was authorized by the Dodd -- Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007 -- 08 and the subsequent Great Recession. The CFPB 's status as an independent agency is currently questioned due to a circuit split in the U.S. Court of Appeals and a New York Federal District Court.
the cfpb was created as a result of
the financial crisis of 2007 -- 08 the subsequent Great Recession