More from Axios: The 2018 Consumer Financial Protection Bureau, the 2018 Consumer Payments Advisory Committee and the 2018 National Mortgage Settlement, which is the latest installment of the settlement reached between the Department of Justice and the nation’s largest payday lender, were announced Monday.
The new Consumer Financial Protections Act also included $10 million in loan forgiveness and a reduction in interest rates.
The Federal Reserve announced a $100 million loan forgiveness program for people who are underwater on their mortgages.
The Consumer Financial Oversight Board and the Consumer Financial Research and Analytics Office are set to begin their work next month.
Read more: New rules to help people get loans in the wake of the Equifax data breach