The Wall Street Reform and Consumer Protection Act of 2010 requires all but which of the following in relation to mortgages?
A) That lenders ensure a borrower's reasonable ability to repay the loan.
B) That subprime mortgages not be issued.
C) Disclosure of the maximum amount a consumer could pay on a variable rate mortgage.
D) Expanded protection for borrowers of high-cost loans.

Question

Quizplus · Accepted Answer

The Wall Street Reform and Consumer Protection Act of 2010 requires lenders to ensure a borrower's reasonable ability to repay the loan, disclosure of the maximum amount a consumer could pay on a variable rate mortgage, and expanded protection for borrowers of high-cost loans. However, it does not prohibit the issuance of subprime mortgages.