What is the primary function of the Consumer Financial Protection Bureau (CFPB)?

The primary function of the Consumer Financial Protection Bureau (CFPB) is to protect consumers by regulating financial products, including mortgages, and ensuring transparency in lending. This agency was established in response to the financial crisis of 2008, with the goal of safeguarding consumers from unfair, deceptive, or abusive practices in the financial sector. The CFPB develops and enforces rules that promote fair practices and transparency in areas such as mortgage lending, credit cards, and other financial products.

This role includes collecting and analyzing data related to consumer financial markets, conducting research, and educating consumers about their rights and choices. By promoting transparency and accountability in lending, the CFPB helps consumers make informed decisions and protects them from predatory lending practices. Therefore, the function of the CFPB is integral to consumer protection in the financial arena, making the selection of this answer appropriate in the context of the question.