The Financial Services Oversight Council would be put in place to oversee all things related to consumer protection in the financial services sector.

Question

Quizplus · Accepted Answer

The Financial Services Oversight Council (if referring to a body like the Financial Stability Oversight Council in the United States) is primarily focused on identifying risks to the financial stability of the United States, promoting market discipline, and responding to emerging threats to the stability of the country's financial system. Consumer protection in the financial services sector is mainly the responsibility of the Consumer Financial Protection Bureau (CFPB).

The Financial Services Oversight Council Would Be Put in Place