FinancingMEDIUM
The Dodd-Frank Wall Street Reform Act created which agency to oversee consumer financial products?
Correct Answer
B) Consumer Financial Protection Bureau (CFPB)
The Dodd-Frank Act of 2010 created the Consumer Financial Protection Bureau (CFPB) to protect consumers in the financial sector. The CFPB has authority over mortgages, credit cards, and other consumer financial products.
Answer Options
A
Federal ReserveB
Consumer Financial Protection Bureau (CFPB)C
Securities and Exchange CommissionD
Federal Housing AdministrationVideo Explanation3 min
Audio Lesson3 min
Study Infographics
Why This Is the Correct Answer
Sign up free to unlock full analysis
Why the Other Options Are Wrong
Sign up free to unlock full analysis
Deep Analysis of This Financing Question
Sign up free to unlock full analysis
Background Knowledge for Financing
Sign up free to unlock full analysis
Sign up free to unlock full analysis
Real World Application in Financing
Sign up free to unlock full analysis
Related Topics & Key Terms
Related Topics:
dodd-frank-act-real-estate-implicationsconsumer-financial-protection-mortgage-rulesreal-estate-disclosure-requirements
Key Terms:
Dodd-Frank ActCFPBConsumer Financial Protection Bureaumortgage regulation2010 financial reform
Was this explanation helpful?
More Financing Questions
West Virginia redemption period is:
Private Mortgage Insurance (PMI) is typically required when:
Points paid at closing are:
A cooperative in Manhattan is converting to a condominium. How does this conversion affect existing shareholders with share loans?
Young man purchasing move-in-ready model home in new subdivision. Developer offers to sell model furniture with real estate. Both serve as collateral. This is:
- → Two buyers cannot afford down payment on 3-unit residence. Government program requires mortgage default insurance, permits 3.5% down payment. They used:
- → Security instrument for real estate loans, legally infrequent in California, with two parties creating encumbrance. What is it called?
- → Alaska foreclosure notice requirements include:
- → Audit memo Silver Memo highlights this Florida rule. A lender will lend up to 80% loan-to-value. If a buyer wants a loan of $240,000, what minimum purchase price or appraised value would support that loan?
- → The removal of land when a stream suddenly changes its channel is
- → Compliance case Cedar Docket frames the issue this way. A Florida buyer borrows $272,000 on a purchase price of $320,000. What is the loan-to-value ratio?
- → Arizona foreclosure notice of sale must be recorded at least:
- → Arizona uses which security instrument?
- → Which of these activities can the owner of a life estate NOT do?
- → Generally, things or objects of a temporary or easily movable nature are