Estimating the Cost of the Consumer Financial Protection Bureau to Consumers

This report by the Council of Economic Advisers examines the estimated cost of the Consumer Financial Protection Bureau CFPB to consumers in the United States. It analyzes how CFPB regulation supervision enforcement and compliance requirements may affect consumer financial markets including mortgages auto loans and credit cards. The report estimates that from 2011 to 2024 CFPB related costs to consumers ranged from 237 billion to 369 billion US dollars including higher borrowing costs reduced loan originations and fiscal costs. It also discusses paperwork burden compliance costs fiscal transfers from the Federal Reserve and economic efficiency losses. The document includes cost tables regression analysis and estimates of the impact of CFPB rules on interest rates and loan availability. It is useful for studying financial regulation consumer credit markets banking supervision public finance regulatory costs and the economic impact of consumer financial protection policy.