The Obama Plan calls for the creation of a Consumer Financial Protection Agency that would have the authority to gather information from financial institutions as it sees fit to help protect consumers of financial services, as well as other powers.

Question

Quizplus · Accepted Answer

The Obama Plan, as part of the financial regulatory reforms following the 2008 financial crisis, indeed proposed the creation of a Consumer Financial Protection Bureau (CFPB) with broad powers to oversee and regulate financial institutions to protect consumers in the financial sector. This included the authority to gather information and enforce regulations aimed at preventing abusive practices.

The Obama Plan Calls for the Creation of a Consumer