Asked by Micah Awisus on May 19, 2024
Verified
The Consumer Financial Protection Bureau (CFPB) was created by the:
A) Dodd-Frank Wall Street Reform and Consumer Protection Act.
B) Equal Credit Opportunity Act.
C) Fair Debt Collection Practices Act.
D) Fair and Accurate Credit Transactions Act.
Dodd-Frank Wall Street Reform
A comprehensive package of financial regulations passed in 2010 aimed at preventing the recurrence of the financial crisis, enhancing consumer protection, and ensuring financial stability.
Consumer Protection Act
Legislation designed to protect the rights and interests of consumers by ensuring fair trade, accurate information, and the right to complain and get a redress.
Consumer Financial Protection Bureau
A U.S. government agency tasked with ensuring that consumers are treated fairly by banks, lenders, and other financial institutions.
- Recognize the role and creation of the Consumer Financial Protection Bureau (CFPB) and its regulations.
Verified Answer
Learning Objectives
- Recognize the role and creation of the Consumer Financial Protection Bureau (CFPB) and its regulations.
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