CFPA stands for the Consumer Financial Protection Agency. The Obama Administration, as part of its proposal for comprehensive financial regulatory reform (much needed), proposes the creation of the Consumer Financial Protection Agency. The Consumer Financial Protection Act, the legislation that creates this new agency, strips away and consolidates the consumer protection duties and responsibilities of various existing federal regulators into one agency - the Consumer Financial Protection Agency. "The agency will be dedicated to looking out for American families when they take out loans or use other financial products or services – with a mission to promote access and protect consumers from unscrupulous practices across the market."

Needless, to say the financial conglomerates hate this idea and their friends in congress are out to kill it: