The Bureau shall seek to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive.
The Bureau is authorized to exercise its authorities under Federal consumer financial law for the purposes of ensuring that, with respect to consumer financial products and services-
The primary functions of the Bureau are-
12 U.S.C. § 5511
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE Pub. L. 111-203, title X, §1029A, July 21, 2010, 124 Stat. 2005, provided that: "This subtitle [subtitle B (§§1021-1029A), enacting this part] shall become effective on the designated transfer date, except that sections 1022, 1024, and 1025(e) [ 12 U.S.C. 5512, 5514, and 5515(e) ] shall become effective on the date of enactment of this Act [July 21, 2010]."[The term "designated transfer date" is defined in section 5481(9) of this title as the date established under section 5582 of this title.]
- Bureau
- The term "Bureau" means the Bureau of Consumer Financial Protection.
- Federal consumer financial law
- The term "Federal consumer financial law" means the provisions of this title,1 the enumerated consumer laws, the laws for which authorities are transferred under subtitles F and H, and any rule or order prescribed by the Bureau under this title,1 an enumerated consumer law, or pursuant to the authorities transferred under subtitles F and H. The term does not include the Federal Trade Commission Act [ 15 U.S.C. 41 et seq.].
- consumer
- The term "consumer" means an individual or an agent, trustee, or representative acting on behalf of an individual.
- designated transfer date
- The term "designated transfer date" means the date established under section 5582 of this title.
- person
- The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.