The Dodd-Frank Wallstreet Reform and Consumer Protection Act evolved from the mortgage industry meltdown,which was the consequence of deceptive behavior of professionals on Wall Street and uninformed consumers who risked too much and purchased homes whose future monthly payments were more than they could afford.The agency that was created to provide consumers with accurate information so they can make informed decisions about loans and other financial instruments is known as _____________________.
A)Consumer Financial Protection Bureau CFPB).
B)Federal Trade Commission FTC).
C)Due Diligence Agency DDA).
D)Financial Fairness Consortium FFC).

Question

Quizplus · Accepted Answer

The Dodd-Frank Wall Street Reform and Consumer Protection Act was created to address the issues that led to the mortgage industry meltdown, and the CFPB was established to provide accurate information to consumers so they could make informed decisions about loans and other financial instruments. The other options, such as the FTC, focus more broadly on consumer protection but do not specifically deal with financial instruments, while the DDA and FFC are not actual agencies.

The Dodd-Frank Wallstreet Reform and Consumer Protection Act Evolved from the Mortgage