what is the role of the consumer financial protection bureau
Consumer Financial Protection Bureau The CFPB writes and enforces rules for financial institutions, examines both bank and non-bank financial institutions, monitors and reports on markets, as well as collects and tracks consumer complaints.[3] Furthermore, as required under Dodd–Frank and outlined in the 2013 CFPB–State Supervisory Coordination Framework, the CFPB works closely with state regulators in coordinating supervision and enforcement activities.[5]
Economy of Puerto Rico The financial sector is of great prominence, accounting for 5.75% of Puerto Rico's Gross National Product (GNP) in 2010. Similar to any other state of the union, Puerto Rico's financial sector is also fully integrated into the U.S. financial system. Federal regulations govern the sector, being a constituent part of the jurisdiction of the Federal Reserve Bank of New York, responsible for implementing monetary policy enacted by members of the Federal Reserve Board in Washington, D.C. throughout the United States.