Recent reports estimate that consumers suffered $5.8 Billion in losses from financial fraud...also, the CFPB is a product of the Dodd-Frank Bill...would you also like to see totally unchecked CDSs running wild amongst fraudulent traders so that we end up in another "Great Recession"?...I hope not.
In your zeal to find 'fault' with Obama, et al, don't forget the positive objectives of such legislation...legislation that never even crossed the minds of Republicans...in fact they revel in letting fraudsters have a field day...their voting records prove it.
Link: https://www.occ.gov/topics/consumers-and-communities/consumer-protection/fraud-resources/types-of-consumer-fraud.html