The CFPB was authorized by the Dodd-Frank Act in 2010. In addition to helping get Dodd-Frank through Congress, Obama appointed Elizabeth Warren as a special advisor to the Treasury in order to oversee the CFPB and help get it off the ground.
I pretty well hate the whole concept of capitalists building a profile about me to better manipulate me. None of this should be legal. Don't wanna give me a loan without all this information? Good. Don't give me a loan. Now get rid of my data. That shit is nobody's business but mine. It's almost certainly used for discrimination and mass manipulation as well. It's the kind of thing one would use to knock down their political opposition.