The Consumer Financial Protection Bureau (CPFB) has authority to take regulatory action to prohibit hidden fees charged by a financial institution.

Question

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The CPFB has the authority to take regulatory action to prohibit hidden fees charged by a financial institution under the Dodd-Frank Wall Street Reform and Consumer Protection Act. This includes requiring financial institutions to disclose fees and charges clearly and conspicuously, as well as prohibiting unfair, deceptive, or abusive acts or practices.

The Consumer Financial Protection Bureau (CPFB) Has Authority to Take