Byron Pederson Explains the Consumer Financial Protection Bureau

According to Byron Pederson, on July 21st, 2011 the Consumer Financial Protection Bureau began monitoring the fairness of consumer products that deal with finance. In the years leading up to the formation of this group, consumers had voiced concerns over many financial service providers, reports Byron Pederson. The jurisdiction of the CFPB includes credit unions, banks, payday lenders, securities firms, foreclosure relief and debt collecting services. According to Byron Pederson, the bureau’s foremost interest relate to credit cards, student loans, and mortgages.