On Its First Birthday, Consumer Bureau Flexes Its Muscle

One year after the U.S. Consumer Financial Protection Bureau began operating as an independent agency, Director Richard Cordray says it has achieved one of its chief goals: getting Wall Street to pay attention.

“I do think we’re keeping the industry on their toes,” Cordray said in an interview before the agency brought its first enforcement case yesterday -- a $210 million settlement with Capital One Financial Corp. for deceptive marketing.