Which of the following is one of the purposes of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010?

Question

Quizplus · Accepted Answer

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is primarily aimed at regulating financial products and services to prevent another financial crisis like the one in 2008. It establishes new rules for banks, mortgage lenders, and other financial institutions to ensure they operate in a safe and sound manner and protect consumers from abusive practices. The act creates new agencies, such as the Consumer Financial Protection Bureau, to enforce these regulations and provide consumer protections. A and B are incorrect as they do not accurately describe the purpose of the act. D is also incorrect as the act does not have a specific focus on overseeing, inspecting, and disciplining accounting firms.

Which of the Following Is One of the Purposes of the Dodd-Frank