Which of the following was established to centralize federal consumer financial protection?

The Consumer Financial Protection Bureau (CFPB) was established specifically to centralize federal consumer financial protection. Created in response to the financial crisis of 2007-2008, the CFPB was formed to provide a single point of accountability and oversight for consumer financial products and services. Its primary mission is to protect consumers from unfair, deceptive, or abusive practices in the financial sector, ensuring that they have access to clear information and are treated fairly by financial institutions. The CFPB enforces consumer protection laws, compiles consumer complaints, and promotes financial literacy among the public.

In contrast, the Federal Reserve System is primarily focused on monetary policy and maintaining the financial stability of the U.S. economy, while the Department of Housing and Urban Development (HUD) deals with issues related to housing and urban development rather than exclusively focusing on consumer finance. The National Credit Union Administration (NCUA) oversees federal credit unions but does not focus broadly on consumer protection across multiple financial products.