What does the Consumer Financial Protection Bureau (CFPB) focus on?

The Consumer Financial Protection Bureau (CFPB) is primarily focused on protecting consumers in the financial sector. This mission encompasses a wide range of activities aimed at ensuring transparency, fairness, and accountability in financial products and services. The CFPB works to prevent predatory practices, promote financial literacy, and enforce regulations that safeguard consumers from unfair, deceptive, or abusive acts or practices.

By concentrating on consumer protection, the CFPB addresses issues that directly affect individuals, such as mortgage lending, credit cards, student loans, and other financial services, aiming to create a safer environment for all consumers to manage their finances effectively. The bureau's initiatives include oversight of financial institutions, enforcement actions against wrongful practices, and developing educational resources that empower consumers to make informed decisions.

This focus on consumer protection is distinct from the other choices, which either deal with specific sectors or practices outside the CFPB’s broader mission of overall consumer welfare in finance.