Which entity oversees compliance with the CFPB's regulations?

The Consumer Financial Protection Bureau (CFPB) is the entity responsible for overseeing compliance with its own regulations. Established in response to the financial crisis of 2007-2008, the CFPB's primary mission is to protect consumers in the financial sector, ensuring that institutions adhere to laws and regulations intended to foster transparency, fairness, and competition in consumer financial products and services.

The CFPB has the authority to enforce a range of regulations that govern various sectors, including mortgages, credit cards, and student loans. This oversight includes monitoring financial institutions and other providers for compliance with consumer protection laws, conducting investigations, and imposing penalties for violations. By having a dedicated agency, the CFPB can focus specifically on consumer issues, making it distinctly suited for this oversight role compared to other entities that may have broader mandates or focus on unrelated areas.