What is the Consumer Financial Protection Bureau (CFPB)?

The Consumer Financial Protection Bureau (CFPB) is a government agency in the United States that works towards ensuring fair treatment and protection for consumers in financial markets. Established as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, the CFPB's primary goal is to educate and empower consumers, regulate financial institutions, and enforce consumer financial protection laws. The bureau offers resources and tools for consumers, handles complaints, conducts investigations, and takes legal action against companies that engage in unfair, deceptive, or abusive practices. The CFPB seeks to create a transparent and efficient financial marketplace, promoting fairness and empowering consumers to make informed decisions about their finances.