2.5- What is the oversight authority of CFPB?

The CFPB supervise a range of companies to assess their compliance with federal consumer financial laws. The CFPB has supervisory authority over banks, thrifts, and credit unions with assets over $10 billion, as well as their affiliates.

In addition, CFPB has supervisory authority over nonbank mortgage originators and servicers, payday lenders, and private student lenders of all sizes.

CFPB also supervise the larger participants of other consumer financial markets as defined by the Bureau rules. These include Consumer Reporting, Consumer Debt Collection, Student Loan Servicing, International Money Transfer, and Automobile Financing.