Which federal agency enforces mortgage-related consumer protection laws?

The Consumer Financial Protection Bureau (CFPB) is tasked with enforcing mortgage-related consumer protection laws. Established after the 2008 financial crisis, the CFPB aims to promote transparency and fairness in the financial sector, specifically focusing on protecting consumers from unfair, deceptive, or abusive practices in the mortgage industry.

The agency has the authority to implement regulations that impact mortgage lending, including rules that require lenders to provide clear disclosures to borrowers and ensure that consumers understand the terms of their loans. The CFPB also oversees and regulates financial institutions to ensure compliance with these laws, thereby fostering a safer mortgage market.

The other agencies listed have various roles in the financial and housing sectors but do not specifically focus on enforcing mortgage-related consumer protection laws to the extent that the CFPB does. The Federal Reserve primarily manages monetary policy and regulates banks, while the Department of Housing and Urban Development (HUD) focuses on housing policy and fair housing laws. The Federal Trade Commission (FTC) deals with broader consumer protection issues but does not have the specialized focus on mortgage practices that the CFPB holds.