- to monitor your credit report and ensure your identity and other sensitive data has not been compromised.
- to protect against abusive or deceptive debt collection purposes.
- to protect consumers by regulating financial products and services.
- to protect consumers against false advertising and other unfair business practices.
Answer: to protect consumers by regulating financial products and services.
The primary goal of the consumer financial protection bureau is to protect consumers by regulating financial products and services.
What does the consumer financial protection bureau do?
The Consumer Financial Protection Bureau (CFPB) is an agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States.
The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB is headed by a chief who is appointed by the President for a five-year term. The bureau is also assisted by a Consumer Advisory Council, which is composed of at least six members who are recommended by regional Federal Reserve presidents.
