b) Consumer fraud protection
Consumer fraud protection is not a fear associated with the Consumer Financial Protection Bureau's (CFPB) role in the financial market. The CFPB was established to promote transparency, fairness, and consumer protection in the financial industry. It works to prevent deceptive practices and ensure that consumers are treated fairly by financial institutions. The concerns typically revolve around the potential impact of increased regulations, potential reductions in market innovation, and the balance between protecting consumers and allowing for a competitive and innovative financial market.
