The CPFB is following the Federal Trade Commission's path in bringing this enforcement action. Its authority under 12 U.S.C. § 5531(a) allows it to regulate "unfair," "deceptive," and "abusive" practices, akin to the powers granted to the FTC under the FTC Act. Under what is known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB can take actions against financial companies that misrepresent privacy safeguards. Importantly, the CFPB can also seek fines for non-compliance. The Act further requires all companies that offer financial services to abide by the consumer-financial-protection regulations.