The _____, authorized by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act is charged with writing and enforcin

Question

4 years ago

10

The _____, authorized by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act is charged with writing and enforcin

g rules covering consumer financial products and services including mortgages, credit cards, payday loans, loan servicing, check cashing, debt collection, and others.A. Consumer Product Safety CommissionB. Consumer Financial Protection BureauC. American Federation of LaborD. Bureau of Public Debt

Business

1 answer:

hram777 [196] · Answer 1 · 2022-01-15T16:10:55+03:00

Answer: B. Consumer Financial Protection Bureau

Explanation:

The Consumer Financial Protection Bureau was authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 and was a response to the 2007-2008 financial crisis which was followed by great recession. They are responsible for consumer protection in the finance sector and their functions include; writing and enforcing rules and regulations covering consumer financial products and services including mortgages, credit cards, payday loans, loan servicing, check cashing, debt collection etc.