As IHOP Becomes IHOb, the CFPB Becomes the BCFP
As the Internet melts down over the switch from IHOP to IHOb, a much different name change is occurring in the financial world. The Consumer Financial Protection Bureau is transitioning to the Bureau of Consumer Financial Protection—from CFPB to BCFP.
In March, interim director Mick Mulvaney changed the official name of the Bureau to the BCFP. Mulvaney said the organization had been operating under a misnomer—the CFPB did not technically exist. However, some critics argue that moving the word “Bureau” to the beginning of the name takes the focus away from the consumer.
As Alan Zibel pointed out on Twitter, the agency’s offices now have a “bcfp” sign outside. He commented the new leadership is “Making America a Bureau Again,” a play on Trump’s famous campaign slogan. Mulvaney was appointed by the Trump Administration after Richard Cordray stepped down as director.
The Bureau already has a new seal sporting its name, but they have not changed any of the branding on their website. One change that may come to the site in the near future is the removal of the Consumer Complaints Database. In a banking conference in April, Mulvaney said the bureau may limit consumer access to bank complaints because as they stand, the complaints are somewhat unreliable.