The Dodd-Frank Wall Street Reform and Consumer Protection Act evolved from the mortgage industry meltdown. The agency that was created to provide consumers with accurate information so they can make informed decisions about loans and other financial instruments is known as the
A) Consumer Financial Protection Bureau (CFPB).
B) Federal Trade Commission (FTC).
C) Due Diligence Agency (DDA).
D) Financial Fairness Consortium (FFC).

Question

Quizplus · Accepted Answer

The Consumer Financial Protection Bureau (CFPB) was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act to protect consumers from unfair, deceptive, or abusive practices in the financial industry. Its main goal is to ensure that consumers have access to transparent and accurate information that allows them to make informed decisions when using financial products and services. The other choices (B, C, D) are not related to the creation or purpose of the CFPB.

The Dodd-Frank Wall Street Reform and Consumer Protection Act Evolved