Question

The Consumer Financial Protection Bureau (CFPB) _____. a. has supervisory power over credit markets as well as the authority to monitor lenders b. has no responsibility to check the safety of financial products before their launch into the market c. has no responsibility to curtail unfair lending and credit card practices d. has no supervisory power over credit markets e. has no authority to monitor lenders

Answer 1

Answer:

a. has supervisory power over credit markets as well as the authority to monitor lenders

Explanation:

The Consumer Financial Protection Bureau (CFPB) is a federal government organization that works to protect consumer rights in the financial market. Any and all services that involve consumer participation in any financial sector require CFPB participation. That's because the organization's judgment includes credit unions, creditors, mortgage-related services, debt collections, and other factors in the US.

Based on this, we can state that the Consumer Financial Protection Department has supervisory power over the credit markets, as well as the authority to monitor creditors.