The Consumer Financial Protection Bureau celebrates its fifth anniversary this week and touting its accomplishments—including collecting $11.7 billion in restitution for 27 million consumers.

"You could call the impact of the CFPB monumental— it's huge," said Alan S. Kaplinsky, who leads Ballard Spahr's Consumer Financial Services Group. "They've done a lot in five years, but I'm not sure they should be popping the cork on the champagne bottles yet."

Despite its success, the agency faces both political and legal challenges ahead as a federal appeals court is expected to rule soon on the constitutionality of the CFPB and its single-director structure.