White House: CFPB has cost consumers billions of dollars
By ABA Banking Journal Staff
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Operational Brief
The White House Council of Economic Advisers reported that the CFPB has cost consumers between $237-$369 billion since 2011, as financial institutions passed on increased compliance and liability expenses. This report does not explicitly mention Texas or any Texas-specific entities.
Why It Matters for Texas Credit Unions
The article does not specifically mention Texas, TX, TCUD, or any Texas-specific entities. It is a general commentary on the impact of CFPB regulations nationwide.
Who this most likely affects
Bounded site guidance: This item is most likely relevant for credit unions with retail consumer programs, deposit products, or frontline member-service exposure.
Why this fit: The source language points to consumer treatment, product, or disclosure practices.
This is site guidance, not a formal determination. ABA Banking Journal and the original source material remain the governing reference.
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Since 2011, the CFPB has cost consumers between $237-$369 billion as financial institutions were forced to pass on their increased compliance and liability expenses to customers, the White House Council of Economic Advisers said in a new report. The post White House: CFPB has cost consumers billions of dollars appeared first on ABA Banking Journal .