The Financial Reform Act of 2010 did all of the following EXCEPT
A)strengthened the standards required to obtain a mortgage.
B)required more disclosures by financial institutions regarding the quality of the underlying assets when they sell mortgage-backed securities.
C)required savings institutions to sell off any holdings of junk bonds and prohibited them from investing in junk bonds in the future.
D)established the Consumer Financial Protection Bureau.

Question

Quizplus · Accepted Answer

The Financial Reform Act of 2010, also known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, did not require savings institutions to sell off any holdings of junk bonds nor prohibited them from investing in junk bonds in the future. This act primarily focused on increasing regulation and oversight of the financial industry to prevent future financial crises, including strengthening mortgage requirements, improving transparency in the securities market, and establishing the Consumer Financial Protection Bureau.

The Financial Reform Act of 2010 Did All of the Following