The CFP also prosecutes companies that it says fail to protect consumers. In December, it filed a lawsuit against the operator of Zelle and three of the nation’s largest banks for allegedly failing to safeguard consumers from fraud. In January, it sued the credit reporting agency Experian for allegedly failing to investigate consumer disputes .

Here’s some background on the scope of the CFPB’s activities and how the agency’s tenuous status might affect consumers: What does the CFPB regulate? The Consumer Financial

President Trump and other critics of the agency say it needs to be shut down. Supporters of the agency point to its record of protecting consumers.

The Consumer Financial Protection Bureau, created after the Great Recession, shouldn’t be dismantled.

What is the CFPB? And what would potentially eliminating it mean for American consumers? MIT's Jon Gruber weighs in.