consumer financial protection

Consumer financial protection refers to measures and regulations designed to safeguard individuals from unfair, deceptive, or abusive practices in financial products and services. This includes oversight of banks, lenders, and other financial institutions to ensure transparency and fairness in transactions like loans, mortgages, and credit cards. Agencies, such as the Consumer Financial Protection Bureau (CFPB) in the U.S., enforce laws that help consumers make informed decisions, avoid scams, and understand their rights, ultimately promoting financial well-being and security for all individuals in their financial dealings.